Effective billing and collection services are important for ensuring the smooth operation of insurance premium payments. BAS’ services streamline the process of invoicing, collecting, and managing premium payments from employees on leaves of absence, enabling employers to efficiently handle premium billing, minimize late or missed payments, and ensure continuation of benefits.
BAS’ premium billing and collection services provide a smooth, seamless, easy to navigate process for both the employer and the employee. Specifically, BAS will:
- Setup the Employee Initial Premium Billing Notice with Payment Coupons and ACH Debit Option.
- The service of setting up the employee initial premium billing notice includes creating and distributing the first billing statement to employees, complete with detailed payment coupons and the option for payment by ACH debit. This setup ensures that employees have clear, accurate information regarding their premium payments and offers convenient payment methods, supporting timely and efficient premium collection while enhancing the overall employee experience.
- Setup Late Payment Rules & Automated Notices with chart of plans & premiums due.
- The service of setting up late payment rules and automated notices involves configuring MyEnroll360 to enforce payment deadlines by establishing clear rules for late payments. This includes creating automated notifications that are sent to employees, detailing the overdue amounts, associated plans, and premiums due. These measures ensure consistent adherence to payment schedules, help mitigate delinquencies, and provide employees with timely reminders, encouraging timely payment.
- Setup Termination payment rules and automated notice
- The service of setting up termination payment rules and automated notices involves configuring the system to handle the final payment processes for employees whose coverage is ending. This includes defining specific rules for calculating any remaining premiums due and generating automated notices that inform employees of their termination payment obligations. This setup ensures a clear, consistent approach to final payments, helping to avoid misunderstandings and ensuring compliance with termination procedures.
- Setup Transition Billing notice with Payment coupons and ACH debit option
- The service of setting up transition billing notices involves creating customized billing statements for employees currently on leave, ensuring they receive accurate payment information during their leave period. This includes generating payment coupons and providing the option for ACH debit, making it easy for employees to manage their premium payments while on leave. This service ensures continuity in coverage and simplifies the payment process, helping employees stay informed and compliant with their billing obligations.
- Setup import for Employer data file of active direct billing Individuals upload & balances setup.
- The service of setting up an import for the Employer’s data file of active direct billing individuals involves configuring the system to seamlessly upload individual information and establish their account balances. This process ensures that all active direct billing individuals are accurately reflected in the system, with their current balances correctly set up. By automating the import and setup, this service streamlines data management, reduces manual entry errors, and ensures that individual billing information is up-to-date and ready for processing.
- Print/mail initial premium billing notices with payment coupons and ACH debit option.
- The service of printing and mailing initial premium billing notices involves the physical production and distribution of the first billing statements to individuals. Each notice includes detailed payment coupons and the option for ACH debit, providing clear instructions and convenient payment methods. This service ensures that individuals receive timely and accurate billing information, facilitating prompt payments and helping to maintain consistent coverage.
- Import & apply biweekly employer data file for new and updated direct billing recipients.
- The service of importing and applying biweekly employer data files involves regularly uploading and processing files that contain information on new and updated direct billing recipients. This ensures that any changes in individual status, such as new enrollments or updates to existing accounts, are promptly reflected in the billing system. By automating this process on a biweekly basis, the service helps maintain accurate, up-to-date records and ensures that all direct billing individuals are billed correctly and on time.
- Distribute a weekly billing & receivables report.
- The service of distributing a weekly billing and receivables report involves generating a comprehensive report that details all billing activities and payment receivables for the week. This report provides a clear overview of outstanding balances, payments received, and discrepancies that may need attention. Regular distribution of this report ensures that the Employer stays informed about their financial status, enabling proactive management of their billing and collections process.
- Distribute a weekly billed employees terminations report.
- The service of distributing a weekly billed employees terminations report involves generating and delivering a detailed report that lists all employees whose billing has been terminated during the week. This report provides the Employer with critical information regarding changes in their billing roster, helping them monitor employee status updates and ensure that their records are accurately maintained. Regular distribution of this report supports effective workforce management and helps prevent billing discrepancies related to terminated employees.
- Distribute a monthly billing & funds remittance & report.
- The service of distributing a monthly billing and funds remittance report involves compiling and delivering a comprehensive report that details the total billing activity, payments collected, and funds remitted for the month. This report provides a clear financial summary, including any outstanding balances, reconciliations, and the exact amounts transferred to their account. Regular distribution of this report ensures that the Employer has complete visibility into their monthly financial transactions, supporting effective financial management and planning.
- Final late pay notice letter with chart of plans and premiums due.
- The Final Late Pay Notice Letter service involves the creation and distribution of a tailored final reminder letter for participants who have missed their payment deadlines. This notice includes a detailed chart outlining the specific plans and premiums due, providing clear and concise information on the outstanding amounts. The service is designed to encourage prompt payment and reduce the risk of payment lapses, ensuring that participants are fully informed of their obligations before final actions are taken.
- Custom termination for non-payment letter with final statement of detailed plans/premiums.
- The Custom Termination for Non-Payment Letter service involves the creation and distribution of a formal termination notice for participants who have failed to make required premium payments. This letter includes a final statement that provides a detailed breakdown of the plans and premiums affected by the non-payment. The service ensures that participants are fully informed of the termination of their coverage, along with the specific financial details leading to this action, thereby maintaining transparency and compliance with amounts owed.
- Custom alert of possible third-party collection notice.
- The Custom Alert of Possible Third-Party Collection Notice service involves sending a preemptive notification to participants who are at risk of having their unpaid balances referred to a third-party collection agency. This alert is designed to inform the participant of the potential escalation and to encourage immediate payment to avoid further action. By providing this advance warning, the service aims to prompt resolution and minimize the need for external collection efforts, helping to maintain positive relationships and reduce collection costs.
BAS’ Premium Billing and Collection Services give employers an easy way to ensure funds are collected from employees on leaves of absence.
Benefit Allocation Systems (BAS) provides best-in-class, online solutions for: Employee Benefits Enrollment; COBRA; Flexible Spending Accounts (FSAs); Health Reimbursement Accounts (HRAs); Leave of Absence Premium Billing (LOA); Affordable Care Act Record Keeping, Compliance & IRS Reporting (ACA); Group Insurance Premium Billing; Property & Casualty Premium Billing; and Payroll Integration.
MyEnroll360 can Integrate with any insurance carrier for enrollment eligibility management (e.g., Blue Cross, Blue Shield, Aetna, United Health Care, Kaiser, CIGNA and many others), and integrate with any payroll system for enrollment deduction management (e.g., Workday, ADP, Paylocity, PayCor, UKG, and many others).
