MyEnroll360 Self-Billing Module

Posted by BAS - 27 February, 2020

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The insurance "Self-Billing" module in MyEnroll360 makes it easy for employers to pay their group life, short-term disability, and long-term disability premiums to their carriers. The MyEnroll360 Self-Billing module consolidates employees into coverage-specific reports that meet each insurer's reporting requirements.

The consolidated billing is based on employees' enrollment data in MyEnroll360. MyEnroll360 consolidates employees’ current and retroactive adjustments (adds, changes and terminations, if any), for benefit elections, premium, coverage date, and benefit volumes/level for each premium-payment-due-period (usually monthly but it can be more frequent depending on each carrier's specific requirements). The data is synthesized into one report. Current debits and retroactivity credits flow neatly onto the Self-Billing reports in accordance with the insurance carriers' specifications. Copies of the Self-Billing PDFs are stored in MyEnroll360 for reference for paying carriers.

The benefits of the MyEnroll360 Self-Billing reports include:

  1. Accuracy. The premium and benefit calculations are driven from a single rate and calculation table in MyEnroll360, which are the same tables used for premium and benefit calculations throughout MyEnroll360(e.g., employee benefit statements, enrollment wizard pages, coverage reports, etc.). The single source for rates, premiums and benefit levels assures the calculations for current premiums and retroactive debits and credits occur the same way, every time.
  2. Ease of preparation. MyEnroll360 Self-Billing reports eliminate employers having to create monthly insurance carrier transmittal reports and maintain spreadsheets with current month's and retro periods' adjustments. Within seconds, MyEnroll360 generates Self-Billing reports on schedule and without fail. Employers simply need to review the Self-Billing reports for accuracy and pay the amounts to the carriers.

To learn more about the MyEnroll360 Self-Billing module, contact your account manager or email Solutions@BASusa.com

Topics: MyEnroll360 Feature


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