Square, Inc. has launched employee benefit offerings within Square Payroll, providing small businesses who use Square Payroll access to affordable benefits like health insurance and retirement savings. The benefit can also save businesses money by reducing payroll tax burdens, without any added cost.
“With today’s launch, Square Payroll is giving small businesses access to ‘big company’ benefits,” says Caroline Hollis, head of Square Payroll. “We’re empowering businesses to provide their employees a comprehensive set of benefits and the financial security that comes with having them.”
Benefits available through Square Payroll include health insurance, retirement savings, pre-tax spending, and workers’ compensation, says Square, Inc. To provide these benefits to businesses and their employees, Square Payroll has partnered with technology-focused companies including SimplyInsured, Guideline 401(k), Alice, and AP Intego Insurance Group. Through Square Payroll, business owners can select the specific benefits that fit their business and their budget, and after completing the benefits enrollment, those benefits will automatically sync with Square Payroll.
“With Square Payroll we are able to simply and affordably provide employees with the benefits they need and reduce administrative time in the process,” says Shatisha Wilson, LPC, RPT, the owner of Wilson’s Garden of Hope, a play therapy & counseling center in Augusta, Georgia that serves active duty, retired, and reserve members of the military and their families. “Options we looked at before had employee minimums that prevented us from qualifying, but with Square Payroll the benefit plans are designed to meet the needs of businesses my size.”