How-To Tuesday: Adding a Medical Benefit


It’s officially 2022! A new year may bring many changes to your business, such as hiring new employees or changing company benefit plans.

If you need to add a new benefit plan for an employee, PayWow makes it easy to do! Follow these simple steps to add a new medical benefit for an employee.

  1. On the dashboard, navigate to the “Benefits” tab.

2. Once there, you will see all of your current company benefits. To add a new benefit, click the “Steup a New Benefit” button in the upper right corner.

3. Select the “Setup” button for medical insurance (pre-tax).

4. In order to set up the benefit, you will need to add the following details:

  • Benefit Name – This is the name associated with the benefit provided to employees
  • Select whether it will be a calendar year plan or a fiscal year plan
  • New Hire Waiting Period – Set the number of days you would like to pass before your new employee may enroll in benefits
  • Health Benefit Type – Select if it is a medical, dental, or vision benefit
  • Insurance Premium Type – Determine whether the benefit will be a fixed premium or if it will vary depending on the employee
    • If the premium is fixed, you will need to enter the amount of deductions from the employee’s pay period and the companies contributions per pay period.

After adding these details, select save and continue.

5. Next, you can select the employees that you would like to add to this benefit plan. You can also determine the employee deduction per pay period and company contribution per pay period for each employee.

6. After selecting the employee(s), select “Save and Continue.” You will see a summary of the new benefit.

PayWow

With PayWow, you can assign applicable benefit types and track both employee and employer contributions. PayWow’s streamlined and easily accessible site/mobile app makes it simple to add a benefit plan for an employee. Get started today!


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