Does Paychex Offer Health Insurance

Does Paychex Charge For Direct Deposit

What Benefits Can a Small Business Offer To Attract and Retain Talented Employees?

The actual price you pay for outsourcing payroll depends on the number of employees you have and the specific services you require. The same reviewer reported that Paychex charges $15 per payroll for direct deposit payments and around $40 upfront in addition to $2.50 per employee for end of year W-2 processing.

Group Health Insurance Explained

Myriad changes in the health insurance market have more Americans, particularly business owners, focused on finding the right group coverage while managing costs. In current times, major medical insurance isnt just a nice-to-have: its a necessity.

Providing group health insurance can give you an edge over other businesses vying for your recruits. A nationwide survey conducted by Paychex looked at the impact of benefits on employee retention. Forty-four percent of employees stated they would leave their current employer due to a lack of benefits. Furthermore, affordable health insurance ranked first when asked which benefits would entice employees to stay at their current job. Lets look at how you can utilize health insurance offerings to retain your best workers.

How We Evaluated Paychex Vs Adp Vs Gusto

We evaluated Paychex vs ADP vs Gusto by looking at each providers pricing structures, features, and ease of use. We also checked whether HR professionals are available to give expert advice. Customer support was also an important factor since small business owners may need help navigating through the software.

Don’t Miss: Is Veneer Covered By Insurance

What Is Group Insurance

Group insurance plans cover groups of two or more people typically an employer, two or more employees, and their families. Group insurance is a particularly effective option for helping businesses attract qualified job candidates and reduce employee turnover. Despite initial fears of a negative impact of the Affordable Care Act , more businesses have added group coverage than ever before.

Does Paychex Offer Dental Insurance

5English reviews out of 5

Good and affordable health benefits and dental benefits


Not really any cons of the benefits offered

Good and affordable health benefits and dental benefits

Reviewed by: Sales Support Representative

May 19, 2022


Rewards Hard Workers with Compensation PlanReasonable QuotaGreat Sales TrainingWFH Options offer great work/life balanceGreat Company CultureGood Benefits–3% 401K match, 3 months paid maternity leave including average 12 months of commission and 1 month paternity leave, FSA, good medical coverage.


Lots of handholding of clients High TurnoverCustomer Service isn’t the best yet it’s the company’s main competitive differentiatorRebuilding relationships with CPA’sMarathon not a sprint for relationship building sales

Advice to Management

Rather than radical changes to the sales organization every single May/June let people settle into their position and only role out changes when they are complete. This company is so slow to promote and leads you on. Raise your base salary because you are way below market even in the industry.

3% 401K match, 3 months paid maternity leave including average 12 months of commission and 1 month paternity leave, FSA, good medical coverage.

May 19, 2022

Reviewed by: Sales Representative



Lower wages than most similar companies. While it was mandatory WFH during the pandemic, they are not offering the level of permanent WFH options many other companies are.



# benefits



Don’t Miss: American Income Life – Pyramid Scheme

Paychex Payment Processing Solutions

Paychex has the latest technology for payment processing needs. In addition to payment processing, this platform enhances customer engagement with automated emails, upgrades decision-making with inventory and sales data, and offers more efficient employee management.

Users can completely customize their payment process with online payment services, debit and credit card processing, point of sale solutions, eCheck processing, automatic clearing house payment, transparent pricing, PCI compliance notifications, interchange optimization, and real-time, same-day, or next-day funding abilities.

Paychexs credit card processing includes payment from credit cards like MasterCard, Visa, and Discover, along with gift cards and EMV chip cards. It also gives users the ability to add credit card surcharges. International purchasers can be accommodated using dynamic currency conversion and receive receipts showing exchange rate details and other statistics.

Users can take payments with PC, iPad, iPhone, and Android devices. Users can accommodate additional customers, get paid faster, and save processing costs through electronic processing. Paychex integrates with QuickBooks, and it has PCI DSS compliance reminders to protect users from liability and fraud issues.

When To Consider Adp & Paychex

Its difficult to compare Gusto vs Paychex and Gusto vs ADP for affordability because many, if not all, of ADPs and Paychexs products and plans are custom-priced. However, there are a few instances where either ADP or Paychex may be a more suitable option for you.

If you dont have budget constraints and are looking for a payroll provider that offers a large variety of plan options that will fit your business at every stage, ADP will be a good fit. It has twice as many payroll and HR product plans as Paychex and Gusto.

If youre self-employed, Paychex provides solopreneurs with a payroll plan that has all the basic tools to process salary payouts and comply with the applicable tax rulings. With ADP and Gusto, you essentially pay more as its starter tiers come with functionalities that arent helpful for the self-employed.

For owner-only businesses that plan to expand into a midsize company with minimal changes, then its Paychex Flex payroll and HR plans may provide enough flexibility for you. With monthly fees that start at $39 plus $5 per employee, you also save a little bit more with Paychex as compared to Gustoalthough the former charges extra for some of its payroll tax administration services.

Also Check: Ail Scam

How Paychex Flex Stacks Up

Paychex Flex
Administer health, wellness, retirement, transportation, housing and custom benefits Add-on features for retirement, health insurance and workersâ comp

Gusto is an online payroll and HR administration platform designed with dynamic startups in mind. Like Flex, it facilitates payroll for both employees and contractors under a single plan, and it offers a more affordable contractor-only plan. Unlike Flex, it facilitates benefits administration, including health, retirement and custom benefits like wellness programs. The platform also includes automated charitable donations and a wallet that helps employees access their money when they need it.

ADP is another traditional payroll and HR services platform for organizations of all sizes. Its small-business solution, RUN, serves companies with less than 50 employees. It facilitates payroll for U.S.-based employees, plus automatic tax filing and reporting, and optional benefits administration in a self-service platform for your employees, with a pricing structure and add-on fees similar to Paychexâs.

Paychex Flex At A Glance

Paychex Flex Demo

Paychex Flex is a simple payroll software for small businesses, offered as an alternative to the more complex Paychex platform for larger businesses. It provides just what small businesses need: easy employee payroll.

Beyond that, the platformâs offerings are pretty slim compared with competitorsâthough Paychex as a whole offers a suite of integrated products you could purchase to meet your needs under one brand.

You May Like: Amex Travel Insurance Review

How Is Employee Insurance Paid For

Employers pay 83% of health insurance for single coverage On average, employers paid 83% of the premium, or $6,200 a year. For family coverage, the standard insurance policy totaled $21,342 a year with employers contributing, on average, 73%, or $15,579. Employees paid the remaining 27% or $5,763 a year.

Paychex Specialized Payroll Solutions

Some payroll services focus on a niche group of businesses, while others have options for all types. Paychex is a comprehensive and flexible platform that can be customized for startups to large enterprises. When applying for Paychex, you have the option to complete a quiz to assess needs and must contact a Paychex expert for quotes.

Paychex partners with MyCorporation to let self-employed users create filings for federal tax IDs, corporate formations, business licenses, and state IDs. Users can make 401 contributions as an employee and employer. It also helps them with W-2 and W-4 filing and direct deposits.

Small businesses with one to nine employees get three pay entry options, multiple payment options, flexible payroll processing, 24/7 customer service, plus recruiting, benefits, and HR services. Paychex also provides users with articles and tutorials on the mobile app and payroll tax filing and payments.

Businesses with 10 to 49 employees receive specific Paychex midsize business solutions. These include more efficient payroll processing, compliance services, customized payroll solutions, extra HR support, analytics and reporting insights, and additional benefit packages.

If your company has over 1,000 employees, Paychex also has solutions for you. These include large business solution integrations, more flexible HR technology, scalable HR support, access to compliance experts, and single employee records.

Don’t Miss: Visa Infinite Rental Car

How Does Employer Based Health Insurance Work

Employer-sponsored health insurance is a health policy selected and purchased by your employer and offered to eligible employees and their dependents. These are also called group plans. Your employer will typically share the cost of your premium with you. Your employer does all of the work choosing the plan options.

What Is The $25 Fee Marias Mother Paid When Maria Visited The Doctor

When Maria visited the doctor, her mother paid a $25 fee. The insurance company covered the rest of the cost of the visit. When Marias mother went to the hospital, her family was responsible for paying the first $1,000 of the bill. After this payment, the insurance company covered the rest of the costs.

Read Also: Travelocity Cancellation Coronavirus

Paychex Honored For Excellence In Employee Health And Well

Business Group on Health recognizes Paychex for offering one of the nation’s top health and well-being programs

ROCHESTER, N.Y., April 19, 2022 /PRNewswire/ — For the ninth time, Paychex, Inc., a leading provider of integrated human capital management software solutions for human resources, payroll, benefits, and insurance services, has been honored by the Business Group on Health with the Best Employers: Excellence in Health & Well-being Award. Paychex was recognized for the outstanding commitment to advancing employee well-being through comprehensive and innovative benefits offerings for its 15,000 employees.

Paychex is one of 44 large U.S. employers that received the recognition, which is based on a series of criteria including leadership and culture holistic well-being approach, including mental health, financial security, physical health, social connectedness and job satisfaction and metrics and program evaluation. The winners all demonstrate a clear well-being strategy with measurable objectives and incorporate principles of diversity, equity and inclusion into their health and well-being efforts.

“Paychex has demonstrated a strong commitment to employee well-being, all against the backdrop of a pandemic and a parallel mental health crisis,” said Ellen Kelsay, CEO and president, Business Group on Health.

A full list of winners is available here. To learn more about Paychex employee benefits and well-being initiatives, visit our careers page.

Media Contact

What Coverage Is Included In Group Insurance

Depending on the needs of the business, its employees, and the offerings of the carrier, group insurance plans can include a range of coverage including, but not limited to, medical, dental, vision, life, and long- and short-term disability insurance. Group insurance typically does not refer to coverages a business owner would have to protect themselves, their business, and their property commonly referred to as property and casualty insurance.

Don’t Miss: Travelocity Insurance Coverage

Why Do I Want To Work At Paychex

A great place to work. People are helpful, caring, and generous with their time and talents. I enjoy the work that we do as a company. We are here to help small business owners succeed in their business, and all employees are very focused on providing the best service we can to our clients and their employees.

Compare Paychex To The Best Online Payroll Services

Quick Wins for Small Business: Should your business offer a 401(k) plan?

We know, there are a lot of payroll solutions out there. So choosing the right one for your business can easily make your head spin. In the case of Paychex, while it didnt make the cut in our list of top picks, its still a decent solution for businesses that want to get a handle on their payroll, HR, and business insurance needs. As we looked at the pros and cons of each tool, others stood out more for a variety of different reasons.

For example, a tool like Gusto brings together HR, payroll, benefits, time tracking, and more as a full-service solution thats a great fit for most SMBs. Also, its one of the most accessible and easy to use. But dont take our word for it here. Make sure to see all of our top picks for a deeper dive.

Also Check: American Income Life Insurance Scam Or Not

Paychex Pricing And Options

Unlike other payroll solutions out there, Paychex doesnt publicly list its pricing options. To find out how much youd be paying for a team of your size to use all of Paychexs features youll have to get in contact with its sales team to get a free company quote. Once you answer a few questions about your business here, you can get a free quote thats tailored to your business.

Offer Convenience And Value To Employees

Paychex Flex® allows employees to initiate a variety of activities themselves, empowering them to get the answers they need, when they need them saving your HR teams time and helping maintain everybodys productivity. Through the Paychex Flex website or mobile app, you can:

  • Offer multiple healthcare benefits plan designs depending on your location, including health maintenance organization insurance, point of insurance , preferred provider organization insurance, health savings accounts , and high deductive health plans . We also offer plans with telehealth options.
  • Help your workforce save for their financial future. Paychex offers various 401 plans, HSAs, and the financial wellness tool, FinFit®, to help your team achieve their financial goals.
  • Offer an EAP to reinforce your commitment to employee wellbeing confidential EAP resources and support can help employees deal with challenges head-on, such as counseling, resolving medical claims, managing stress, stopping smoking, or losing weight.

Recommended Reading: American Life Insurance Scam

Workplace Injuries Can Seriously Hurt Your People And Productivity

Injuries on the job can happen at any time, even if you have employees working from home. This could expose the business to an increase in workers’ comp claims. Employee illness as a result of performing work-related duties could also pose potential risks to businesses.

Consider that in 2020:

  • More than 2.7 million workplace injuries and illnesses were reported by private industry employers1
  • More than 888,000 cases involved days away from work1

Does Paychex Have Workers Comp

In general, for every $100,000 in payroll, the average workers compensation policy ranges from a few hundred dollars to a few thousand dollars per year. At Paychex, our Workers Compensation Payment Service can reduce or eliminate large end-of-year payments by basing your premiums on actual wages, not estimates.

You May Like: Can I Have Multiple Dental Insurance Policies

Ny State Insurance License

1. Print a License Online | Department of Financial Services Use the Producer/Licensee Search application to determine if a license has been 3. Apply for a New York Insurance License · Be at least 18 years old. · Complete any necessary prelicensing education requirements. · Pass the appropriate license 2.

Offering Health Insurance For Employees: What Are The Best Options

Many in the workforce count on their employer to provide access to affordable health insurance. In today’s health care marketplace, even the smallest employers wishing to offer this important benefit can find plans to help meet the needs of their employees. With so many different choices available, understanding the process of setting up a health insurance plan can be difficult. But with the right support and resources, it can become a welcome addition to your company’s benefit offerings.

Don’t Miss: Can Health Coaches Bill Insurance

Is It Cheaper To Get Health Insurance Through Employer Or Marketplace

In most cases, sticking with your employer-sponsored coverage for your health insurance will be your cheapest option. Unless your employer offers health insurance that does not meet the minimum standards outlined in the ACA, you wont be able to qualify for any subsidies for your monthly premiums on the Marketplace.

What’s Included With Paychex Payroll Services #

Paychex Flex Journey- Applicant

Paychex offers individual and all-in-one payroll outsourcing services for small and large businesses. A business with fewer than 50 employees can take advantage of the following services:

  • Payroll: Paychex offers a number of ways to manage your payroll, including submission via phone, fax, or online payroll services. Plus, each pay period you’ll receive comprehensive reports that will help you manage your business.
  • Tax Services: Make paying your local, state, and federal taxes easier and more cost-effective by allowing Paychex to handle your tax obligations.
  • 401 and Employee Benefits: A good benefits package can help you retain the best employees, especially in a down economy. Paychex offers a number of plans that can help you set up and manage retirement and health plans for your employees that will keep them happy and lower your tax bill. Paychex even offers group health insurance plans that cover medical, dental, vision, life, and more.
  • HR Administration and Compliance: Keeping up with state and federal human resource requirements can practically be a full time job. Free up your time for more important tasks by allowing Paychex to hand your employee management services, workers’ compensation, COBRA administration, state unemployment insurance, and hew hire reporting.
  • Time and Labor Solutions: Using the Paychex Time Clock or the company’s Time and Labor Online tool, you can more efficiently manage your employees’ hours.

You May Like: Trustage Accidental Death And Dismemberment Insurance Reviews

Paychex Charges $480 Every Year For Section 125 Pop Administration

Paychex payroll clients have reported spending up to $40 a month for Section 125 Premium Only Plan administration. These clients were very excited to learn they could eliminate that $480 a year by purchasing and administering their own Section 125 POP for just a $99 one-time fee.

When an employer cancels their Paychex Section 125 POP Administration they discover Paychex did very little to justify the $480 annually. To cancel the $480 employers simply inform Paychex theyve amended and restated their Section 125 POP with Core Documents and will administer their Section 125 POP in-house.

Paychex will continue doing everything they did while charging $480 annually that includes setting up allowable Section 125 employee elections for qualifying premium as pre-tax as opposed to post-tax . This is a simple checkbox in the Paychex payroll software. An employee pre-tax election is technically a voluntary salary reduction so the funds will remain in the employer checking account until needed to pay insurance carrier invoices. This process is automated and standard across all software programs.

Paychex will also offer to perform Section 125 non-discrimination testing under certain circumstances for their clients who pay the $480. Core Documents provides all of their clients with non-discrimination testing forms. Any employer can conduct their own non-discrimination testing in just a few minutes every year.