Consolidated Billing Services
How would increasing productivity by reducing the time you spend reconciling monthly bills and disbursing payments impact your business?
Reconciling carrier invoices with the actual employee population changes and updating monthly bills can be an administrative headache. Most companies receive multiple monthly invoices with charges per employee, such as:
- Insurance Premiums
- Voluntary Products
- Union dues
- Monthly uniform fees
- Any other monthly employee fees
Based on your needs, your organization will receive a single consolidated bill each month with all employee benefit information. In addition, we can reconcile your monthly bills to ensure accuracy and disburse payments.
Did you know that the Patient Protection and Affordable Care Act (PPACA) has made it more difficult, if not impossible, to recover insurance overpayments because of the new no-rescission legislation?
In the past it was simple to ask for a refund when an oversight was discovered, but with PPACA, many carriers no longer honor these refund requests. This type of oversight occurs because employers are receiving multiple invoices each month, often and at different times. This process usually requires multiple audits per month for accurate records.
When you consider the time your staff currently spends on these tasks, and the savings from premium loss, it’s easy to demonstrate how your company will enjoy a substantial return on investment within the first few months of utilizing our service.