How do I set up Monthly Health Insurance Premium on a bi-weekly schedule? If employee monthly premium is $200 & employer contrib is 50%, is it (100x12)/26?

I’m happy to see you today, @doctorsheahan.

Welcome aboard to the Community. Let’s go to the employee’s profile and then manually enter the correct contribution in the Amount per pay period section.

Here’s how:

1. Go to the Workers menu on the left panel and choose Employees to see the list of workers.
2. On the My payroll page, double-click on the employee’s name to view the complete details.  
3. Selecting these options will take you to the Employee details window.
4. From there, click the Pencil icon for Pay to view more information.
5. Navigate to the Does employee have any deductions section and hit the Add a new deduction link to set up the payroll item.
6. In the What deductions or contributions does employee have page, hit the drop-down for Deduction/contribution and choose New deduction/contribution.
7. Then, pick the appropriate payroll item by clicking the drop-downs for Deduction/contribution type and Type.
8. Input the agency's name in the Provider field box.
9. Navigate to the Employee deduction section and click the drop-down for the Amount per pay period to select the $ amount ($92.30) or you can also select % of gross pay.
10. For the Company-paid contribution, follow the same process found in Step 9.
11. Click OK to save the changes.
    
    

In regard to the premium, the calculation should be (200x12)/26 since it’s on a bi-weekly schedule. Simply click on this link to learn more about the number of payouts per year and proceed directly to the Pay schedule section to view the complete details.

For additional information such as contribution limits and which box on the W-2 the health insurance is reported, check out this article: Set up Health Savings Account (HSA) plans.

Post a comment below if you have additional questions while working in QuickBooks. I’ll pop-right back in to assist further. Have a great rest of the day.