Self-employed workers now have a new tool at their disposal, thanks to a brand new partnership between Intuit Inc. and Stride Health. The two companies joined forces to blend the management of healthcare with tax planning through Intuit’s QuickBooks Self-Employed. The newly launched QuickBooks Self-Employed aims to solve the new of the on-demand marketplace such as Uber and Lyft drivers.
QuickBooks Self-Employed works by allowing freelancers to manage their personal and business finances as well as get a handle on their taxes all year round. The new partnership allows Stride Health to integrate its personalized health insurance management, compliance and healthcare within QuickBooks Self-Employed.
This is a significant move because self-employed workers are on the rise. While currently at about 36 percent of the US workforce, its estimated 43 percent of US workers will be self-employed by the year 2020. There will be an increase from 3.2 million workers to 7.6 million on-demand workers in just a few more years.
According to estimates from Intuit research, 28 percent of freelancers don’t currently have a health plan, more than twice as many as the number of overall Americans who currently do not have health insurance. Alex Chriss, VP of Intuit’s Small Business Group says the partnership is a win-win for everyone involved. “On-demand marketplaces create more choice and provide efficiency for the middle class whether you’re a business or a consumer. That choice and efficiency translates into more money in your pocket, be it earnings or savings,” said Chriss.
With the assistance of Stride, as of November 1, 2015, QuickBooks Self-Employed customers have access to a number of things including personalized support and care savings. With this, users will be able to find in-network doctors with Stride, plus gain access to exclusive deals on prescription medicine nationwide. As well, customers will also have the advantage of recommendations on health plans that are tailor-made for them. Stride will help you compare plans and uncover the most cost-effective ones for you. You’ll also be able to then use your financial data to access your tax savings and maximize your tax credits. The partnership will also mean personalized tax savings. In just one place you’ll be able to track your premiums and contributions to health savings accounts and track your healthcare deductions. As well, users gain the expertise of dedicated advisors throughout the year for help in navigating through health plans and understanding how best to use your plan to save money come tax time.
Open enrollment begins on November 1, 2015 for 2016 health insurance coverage. If you expect to receive health insurance coverage starting on January 1, 2016, you must sign up by December 15 of this year. If you want to switch out of your current health care plan and save some money by using Stride and QuickBooks Self-Employed you are able to do so during the open enrollment period. While Stride can assist users with enrollment throughout the year, if you want to change your coverage after January 31, you must have some sort of a qualifying life event to do so. This includes things like having a child, getting divorced or married and moving to another state. The Stride platform is available in every state plus Washington DC.