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Setting up health insurance. For an employee the monthly health insurance premium is $342.98. The employer pays half and the employee pays half. When I put that into the employees payroll setup for deductions and contributions, which is correct?
A. Deduction $342.98 (Total Premium) Contribution (employer Part) $171.49
B. Deduction $171.49 (Employee Part) Contribution ( Employeer Part) $171.49
Hello, Seymore.
Allow me to share information about setting up payroll health insurance deduction in QuickBooks Online.
In QuickBooks Online, we can set up the employer health insurance item. Where we can manually divide the contribution amount for 50% company and 50% employee contribution.
Then, the deduction amount is paid by an employee and deducted from each paycheck. While the contribution is paid by the employer and often counts as additional pay or wages.
I can guide you through the steps on how to set up a deduction for both employee and company. Follow the steps I've outlined for you below:
You can check out this article for the detailed steps: Add or edit a deduction or contribution.
Let me know if you have any more questions about the setup. I'll be right here to guide you further whenever you needed it. Have a nice day!
what is the actual amount that you would but in for the annual max by both the employee and employer
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