{"id":590,"date":"2024-05-09T16:46:30","date_gmt":"2024-05-09T23:46:30","guid":{"rendered":"https:\/\/embedded.gusto.com\/blog\/?p=590"},"modified":"2024-05-09T16:48:07","modified_gmt":"2024-05-09T23:48:07","slug":"embedded-payroll-insurance-benefits","status":"publish","type":"post","link":"https:\/\/embedded.gusto.com\/blog\/embedded-payroll-insurance-benefits\/","title":{"rendered":"Video: Understanding Embedded Payroll Benefits"},"content":{"rendered":"<p><b><i>Disclaimer: <\/i><\/b><i><span style=\"font-weight: 400\">The benefits products discussed in this video are offered by our partners SimplyInsured, NEXT Insurance, Inc., and Clair. Gusto and Gusto Embedded are not directly offering these products or acting as a broker.<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400\">We sat down with three members of the Gusto Embedded team: Matt Hamilton, Head of Customer Experience, Savannah Du, Solutions Engineer, and Brandon Reich, Head of Partner Growth, to discuss how embedded payroll and benefits work together.<\/span><\/p>\n<p><span style=\"font-weight: 400\"><a href=\"https:\/\/www.youtube.com\/watch?v=0IVxdHdBBJ8\">Watch the video here,<\/a> or read the transcript below.\u00a0<\/span><\/p>\n<div class=\"ose-youtube ose-uid-700613d996f5aa16231397b9e659c532 ose-embedpress-responsive\" style=\"width:600px; height:600px; max-height:600px; max-width:100%; display:inline-block;\" data-embed-type=\"Youtube\"><iframe allowFullScreen=\"true\" width=\"600\" height=\"600\" data-src=\"https:\/\/www.youtube.com\/embed\/0IVxdHdBBJ8?feature=oembed&color=red&rel=0&controls=1&start=&end=&fs=0&iv_load_policy=0&autoplay=0&mute=0&modestbranding=0&cc_load_policy=1&playsinline=1\" frameborder=\"0\" allow=\"accelerometer; encrypted-media;accelerometer;autoplay;clipboard-write;gyroscope;picture-in-picture clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen referrerpolicy=\"origin\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"1\"><\/iframe><\/div>\n<h2><span style=\"font-weight: 400\">So what exactly is embedded payroll?<\/span><\/h2>\n<p><b>Brandon<\/b><\/p>\n<p><span style=\"font-weight: 400\">If I had to describe embedded payroll to someone who I kinda just met off of the street, I would really position it as a way to serve more small businesses where they already are, in the vertical solutions they\u2019re in, in the accounting platforms they\u2019re in, in the point of sale devices that they\u2019re using day to day, really meeting the consumer where they already are.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">How do benefits and embedded payroll work together?<\/span><\/h2>\n<p><b>Savannah<\/b><\/p>\n<p><span style=\"font-weight: 400\">Benefits beyond payroll is referring to products that relate to employees\u2019 full financial relationships with their employer. These are the things that impact their take home pay and correct withholdings and the options that give them access to their paychecks on their own terms.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">We offer <a href=\"https:\/\/embedded.gusto.com\/blog\/next-insurance-workers-comp-via-gusto-embedded-payroll\/\">workers&#8217; compensation insurance in partnership with Next Insurance<\/a>, because in many states workers&#8217; comp is a requirement for businesses with employees.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">We also offer <a href=\"https:\/\/embedded.gusto.com\/blog\/embedded-health-insurance-for-payroll\/\">health insurance in partnership with SimplyInsured<\/a> because many SMBs want to offer a comparable compensation to larger companies and in many states it\u2019s cheaper for employers to purchase health insurance than it is for employees as individuals to purchase similar coverage.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">We also offer on-demand pay with Clair because many employers, especially those with hourly workers want to give employees faster access to wages and tips that they\u2019ve earned without impacting their cash flow routine related to bi-weekly payroll.<\/span><\/p>\n<p><b>Matthew<\/b><\/p>\n<p><span style=\"font-weight: 400\">Benefits are hard. They\u2019re complex and the offering of benefits and compliance with regulations can be blockers for payroll adoption as well.<\/span><\/p>\n<p><span style=\"font-weight: 400\">They\u2019re highly regulated, just like payroll, and there\u2019s tons of legislation. States and localities with their own rules and the expertise necessary to do all that stuff smoothly and properly takes a long time to build up institutionally.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Gusto\u2019s done that, 10 plus years of payroll, nearly that much as a benefits broker as well, which we\u2019ve been licensed for years and so our track record and expertise in both payroll and benefits compliance is pretty well proven which also gives us the ability to have a really deep understanding of what works and what doesn\u2019t work on the go-to-market side on for both of those things.<\/span><\/p>\n<p><b><i>Disclaimer: <\/i><\/b><i><span style=\"font-weight: 400\">The benefits products discussed in this video are offered by our partners SimplyInsured, NEXT Insurance, Inc., and Clair. Gusto and Gusto Embedded are not directly offering these products or acting as a broker.<\/span><\/i><\/p>\n<p><b>Brandon<\/b><\/p>\n<p><span style=\"font-weight: 400\">Just like we don\u2019t recommend building an MVP payroll product, and instead look at the patterns and trends from Gusto\u2019s 300,000+ customers to determine what a sellable payroll product looks like, partners actually segment out their base and research their customer needs regarding benefits. It\u2019ll differ based on the size they\u2019re serving, the industry they\u2019re serving and a multitude of other factors.<\/span><\/p>\n<p><b>Matthew<\/b><\/p>\n<p><span style=\"font-weight: 400\">The first one that comes to mind is Affordable Care Act and the taxes that certain customers have to report in somewhat of a connection to their payroll taxes. If we didn\u2019t offer a benefits solution we would be asking small businesses in states that have ACA reporting requirements, that we\u2019ll handle all your payroll, tax filing, and payment and information. But you\u2019re going to have to go your own way and become a temporary compliance expert. And figure out all this complicated Affordable Care Act, tax regulation and reporting information for yourself, don\u2019t get it wrong otherwise&#8230; that\u2019s a pretty bad customer experience. It\u2019s choppy and it\u2019s not very inclusive. That\u2019s one kind of operational example of why our benefits other than payroll has really been helped by our history of expertise in the payroll space.\u00a0<\/span><\/p>\n<p><b>Brandon<\/b><\/p>\n<p><span style=\"font-weight: 400\">There\u2019s a whole thread of different directions in how these challenges differ across segments, in size and vertical. When we look at a workers\u2019 compensation market, like New York, a business owner can face a misdemeanor for not having that workers\u2019 compensation insurance. Whereas in Washington you have to purchase from a state fund of workers compensation. So all of these regulatory requirements are things that Gusto and our partners have been thinking about and building products for, for many years.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Just like there are lots of regulations around payroll, there are also a lot of regulations around insurance benefits. Gusto knows this, we\u2019ve been a licensed benefit broker for years. This is a very complicated part of the payroll experience. But we know the regulatory side and we\u2019ve also partnered with experts in the field who have built these products with purpose behind it.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Benefits are a really strong component of our post sales partner growth organization. It\u2019s another arrow in the quiver that we have with our partners to get their value ad across. When going out to the payroll customers who might be weighing a standalone legacy solution or looking at another vertical SaaS software that is adjacent to a payroll provider.<\/span><\/p>\n<p><b>Savannah<\/b><\/p>\n<p><span style=\"font-weight: 400\">The Embedded model is unique because it gives you both the support of Gusto.com \u2013- which has been running payroll and offering benefits for years \u2014 as well as the flexibility in terms of actually implementing and picking and choosing what benefits and what payroll features you want to implement. It\u2019s super easy to implement any of these add-on services onto your payroll solutions. For most of these, it\u2019ll be implementation of one of our prebuilt UIs through a single API call. Total development time typically takes less than a week.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400\">So what\u2019s next with embedded payroll and benefits?<\/span><\/h2>\n<p><b>Matthew<\/b><\/p>\n<p><span style=\"font-weight: 400\">Embedded payroll is honestly just kind of like the natural evolution of some of these other technologies that we\u2019re starting to bring into our own personal lives to consolidate a lot of that stuff and make it easier to manage, which ultimately makes living life a little bit easier.<\/span><\/p>\n<p><b>Savannah<\/b><\/p>\n<p><span style=\"font-weight: 400\">In terms of the potential for embedded payroll, I think we\u2019re really only at the start. We have partners who are implementing, who are seeing a lot of growth. Our engineering team is constantly putting out new features that are our partners are excited about and there\u2019s a lot to go from here.<\/span><\/p>\n<p><b>Brandon<\/b><\/p>\n<p><span style=\"font-weight: 400\">When someone asks about Gusto\u2019s commitment to Embedded, I point to all of the great announcements we\u2019ve had over the past 2 years. I point to the size of the team we\u2019re working with and the sheer excitement and commitment from the team all throughout Gusto. From the partnership growth side of the house, we\u2019re exceptionally excited about helping our partners build out an entirely new business unit and grow it. And make it a cornerstone of their own business plan.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Disclaimer: The benefits products discussed in this video are offered by our partners SimplyInsured, NEXT Insurance, Inc., and Clair. Gusto&#8230;<\/p>\n","protected":false},"author":18,"featured_media":591,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-behind-the-paycheck"],"acf":{"exclude_from_embedded_resources":false,"popularity":0,"essentiality":0},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Video: Understanding Embedded Payroll Benefits - Embedded Blog<\/title>\n<meta name=\"description\" content=\"Learn about the future of embedded benefits and embedded insurance, and how they can be offered alongside embedded payroll.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/embedded.gusto.com\/blog\/embedded-payroll-insurance-benefits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Video: Understanding Embedded Payroll Benefits - 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