Premium Billing and Reconciliation

Our accounting department corroborates that your insurance carriers are paid the correct amount, and nothing more.

A critical part of our service is to make sure that additions, deletions and dependent changes are accurately made to all premium statements.

Whether it’s a new employee or an employee that gets, married, divorced or adds a dependent, we make sure that the proper documentation is provided to your insurance carriers.

Examples of documentation we collect:

• Addition of Spouse – Marriage Certificate
  
  
• Addition of Domestic Partner – Domestic Partner Certificate
  
  
• Addition of Children – Birth Certificate or Adoption Documentation
  
  
• Over-Aged Dependents – Full-Time Student Verification or Disability Certification

We verify eligibility of all plan participants based on either an electronic eligibility file from you, or by reference to our database.
(See BeneSource® Database)

The result is a client premium bill. We compare this with your insurance carrier’s billings and conduct reconciliation. During this reconciliation process we make sure all ineligible plan participants are removed from the bill.

You receive a report each month documenting eligibility activity, covering:

• Additions – new hires, spouses, children and domestic partners.
  
  
• Terminations or Separations – including those electing COBRA coverage.
  
  
• Premium Rate Changes – If any, on account of eligibility changes.

The result is a report of the correct amount you pay each insurance carrier. You can pay the bill direct or advise us to do so. This also assures that those employees that should be covered – are – relieving you of any liability for a lapse in coverage at a time of need.