Excellent Intuit Health Care Debit Card

Filed in Intuit QuickBooks by on April 10, 2012

Small employers should use the excellent Intuit health care debit card because:

  • It takes 10 minutes to enroll, with no setup or cancelation fee.
  • It is tax deductible for employers and tax free to employees.
  • Employers decide what to pay monthly ($1 to $400/employee).
  • Intuit deducts contributions from the company bank account.
  • Employees pay medical bills with debit cards.
  • Many medical payments automatically qualify.
  • There are three appeals, in two months, for non-qualifying payments.
  • The plan can cover non-deductible out-of-pocket medical expenses.
  • It also can pay medical insurance, but it is best to pay that separately.
  • The employer gets back unspent money when employees leave.
  • There is 24/7 access to an employee web portal.
  • Intuit handles administration – $5/employee/month (30-day free trial).

This is only for W2 employees, but you can still 1099 some payments to employees or their corporations. It is, however, unfortunately not available to the owners of S-corps or their immediate families. Such companies can still cover other employees with the excellent Intuit health care debit card.

 

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