At SimplePay, we listen to our users. That’s why when you asked us to build functionality to accommodate the special tax requirements for permanent health insurance, that’s exactly what we did! In today’s post, we’ll provide a quick overview of permanent health insurance and show you how to add it to your employees’ payslips on SimplePay.
What is Permanent Health Insurance?
Permanent health insurance or permanent health benefit contributions are schemes which will continue to pay your employees’ income if they are absent due to illness or injury. Even better, using a Revenue approved scheme provider allows you to benefit from tax relief.
You can read more about the tax implications of these schemes on our help page here.
Adding Permanent Health Insurance to Payslips on SimplePay
When logged into SimplePay:
- Go to Employees and click on the name of an employee participating in the permanent health insurance scheme
- Click on Add next to Regular Inputs
- Select Permanent Health Insurance from the list of regular system items
- From the Revenue Scheme drop-down menu, select whether the scheme you’re partaking in is “Approved” or “Unapproved”
- Fill in the Employer Contribution and Employee Contribution fields
- Click Save.
Easy as that! You should now be able to see the values you inserted under Regular Inputs, as shown below:
We hope that you have found the above information useful. If you have any questions on how the information above relates to SimplePay, please feel free to contact us at [email protected]
Equally, if you are not yet a client of SimplePay but would like to be, or if you’d like to know how we can take the effort out of filing and calculating payroll, get in contact with us or visit our website: www.simplepay.ie
Keep well and stay safe.