- Are you handling COBRA billing manually?
- Do you struggle to reconcile the internal billing of individuals within entities of your organization?
- Do you wish you could automate premium billing?
- Do you need to track benefit deduction arrears outside of the payroll system?
Our Billing Management solution allows you to automate the process of managing employee benefits billing. We provide three types of billing, all offering the flexible scheduling of invoices, generation of pre-bill adjustments and retroactivity, reconciliation, and all standard accounting reports.
- Employee Billing: Our software invoices individuals, who then pay the invoiced amount directly (for example, COBRA premiums). The billing process is integrated with the system’s Health & Welfare and Defined Benefits modules. Instead of handling one-off bills manually, our software does it for you automatically.
- Employer Billing: Invoices are sent to an entity of the organization (for instance, a company, a division, or a group), which then remits payment. Our software knows how much each employee owes and how much each entity should pay. And, through our online Manager Self-Service module, you can view invoices and make payments directly.
- Premium Billing: The system generates internal invoices to pay your insurance carriers. You can be confident your carriers are paid the right amount, at the right time.
Each of the three billing types provides full accounts receivable management capabilities. Our software manages flexible payment allocation, voids and refunds, and receipt of payments—either manually or through a lockbox. So, not only are your bills managed automatically, your receipts are as well, allowing you to turn your attention elsewhere.
Coordinate with Benefit Plans
The billing process is fully integrated with the system’s Health & Welfare and Defined Benefit Solutions. A benefits event will automatically trigger the appropriate billing transaction so you don’t need to remember to update the billing system.