What is Premium Billing?
Premium Billing, also known as Direct Billing, is implemented when employers must directly bill their employees, whether active, former, or retired, to collect payments that cannot be handled through payroll deductions. Typical situations that require Premium Billing are the collection of retiree portion of premiums, surviving spouses, leaves of absences and others. Our Premium Billing service is customizable and flexible to handle your business needs.
How can COBRA Allies help reduce your administrative costs and streamline your HR workload?
Let us handle your open enrollment, plan changes, collections, tracking, and premium remittance. We work directly with your former employees or retirees with any questions or plan changes they may have and support them through the process. Rate and plan changes and open enrollment services are communicated to participants and carriers.
Employers can lose money from failure to collect premiums or from keeping employees and retirees active on their benefit plans when they should have been cancelled.
Many employers are not equipped to directly bill, track, and collect payments from employees or retirees. The scenarios requiring Premium Billing can be complicated and in need of customized processes that would be a burden for your HR staff.
Still have more Questions?
If you have any more questions after reading through the available resources, please contact us here.