Premium Reconciliation & Invoice Payment

Carrier Relationships, Eligibility Management, Precise Premiums

Less Spent, More Saved

To ensure correct balances and payments, precise management of eligibility, carrier files, and premium payments is a must. Saving our clients thousands of dollars each month, our premium reconciliation process is accepted by employers and carriers for a seamless integration.

Premium Reconciliation Services

  • Reconciliation of premium payments on a monthly basis, based on our database of participant coverage. We can use either a balance forward process or a full-file compare.
  • Summaries of all adds, changes, and terminations for all plans.
  • Retroactivity that is automatic and system-driven.
  • Invoices segmented according to the company's needs - by location, division, or cost center.
  • Balance forward method that brings the prior month's payments forward with additions, deletions, and changes, then compares the new balance to the carrier bill.
  • Consistent look and feel for all plans that simplifies and improves accuracy for internal accounting.
  • One bill for simplification with all lines of coverage for each carrier calculated.
  • List of bills created for self-administered plans.

Interested? Want to see more?

Schedule a demo today to see how we can meet your benefit administration needs.

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Millennial Benefits Guide

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