The cost of group health insurance is not sustainable forever for small businesses and start-entreprenurs. Dropping total health services is not a viable option for most small businesses, offering healthcare an important part of an employee's recruitment and retention. Instead the high price of insurance group health payment, many employers are their employees to report indivual health insurance premiums.
premium refund is an alternative to traditional group health insurance and in popularity with small businesses to grow, want to offer the health benefits for the first time. employers a premium refund management provider of compliance and administrative reasons. For background information, this product on premium refund software.
What have premium refund management expect a business? Read on for 14 Premium reimbursement management functions from your provider to be expected.
1. Staff training and on-boarding
During this first function not quite a "software" function, it is to offer one of the most important considerations premium refund administration: training of employees and companies on-boarding. The premium refund management providers should offer a tool kit to help your business: 
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understanding of the benefits? (What premium refund How it works)
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Understand the benefits of each insurance
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Learn how to reclaim and their participant portal use
Because even if the benefits are fantastic, many employees are not familiar with their own policy choice - and change can be hard. For this reason, a premium refund administration seeks providers that:
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Provides custom on-boarding process for your business
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Provides an immediate and electronically Welcome kits for employees
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Provides an online Help and Support Center with instructions for the employees and the company administrator
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If a response to send and helpful support team informed of premium reimbursement and health care reform
2. employees Allowances
the premium reimbursement management software should allow employees give monthly their certificates or anytime on an exception basis-with automatic monitoring of HIPAA and ERISA discrimination compliance rules. Deferred certificates (waiting time) should be used for new hires be possible and suspended values for the former employees be allowed that employers hope on a seasonal basis to hire new.
3. Claim Submission
staff should be able to cope with demands (requests for reimbursement) submit online, by fax or by e-mail and instantly receive an email acknowledgment of their claim and monitor claim status for providing an online link. The documentation should by employees.
4 online be permanently available for convenient access. Claim Processing
The premium refund management provider should should process claims within 24 hours and employees through online chat, email, fax, mail or telephone about their right to inquire. It should not for incorrect or incomplete submission rejected without multiple contacts. All employees should contact clearly leave records and take appropriate regulatory guidelines (eg ACA, IRS, HIPAA, ERISA, SAS 70). Look for software that "real-time" tracking on claims, available 24/7 online.
5 provides. claim reimbursement
The employee should receive e-mail notification when their claim is approved and confirmed again if (and how) it will be refunded. The reimbursement should be a clear and always available examination leave track individually or on a periodic batch basis by check, direct deposit or payroll also be administered.
6. employees Ledger
All employees should have access to an online ledger shows its current balance sheet, cash , claims and refunds including permanent storage of documents, relevant tax information, plan documents, and the ability to save or export their own medical information on the administration platform.
7. Integrated electronic plan documents, the SPD and employee signature
The Plan document, Summary of Benefits and Coverage ( SBC) and SPD (Summary plan Description) should be created in electronic form, accessible online, and collected signatures electronically. Employers should include a change to benefits for a certain class of employees at all times and can manage the electronic documents should automatically and change them if necessary, should new electronic signatures are collected when the employee next online.
8. classes of employees
The employer should be immediately able unlimited different classes of employees with each class provide various benefits to employees obtained by family status.
9. Employees Registration and Termination
The employer should in be able to enroll immediately or welcome remove employees in real time on an individual or batch basis, with automatic printing of employee kits and other appropriate schedule management information.
10. Schedule Setup
The employer should be able complete and / or modify both their premium refund Health plan and their plan documents simultaneously online related article. Please refer:. As premium refund Health Plan Set
11. Reporting
The employer should be able to show all refunds by employees or monitor information from the class of employees and for each class of employees in real-time claim. Employees should be able to see 3-5 years of history.
12. Tax forms and information
All information for the necessary administrative reporting (eg 5500 for employers with more than 100 employees) should be available in real time online, and not eligible plan participants (eg independent contractors, owners of Sub S companies) should obtain appropriate information in 1099.
13. Personal Health Insurance Distribution
premium refund software should employers (Relationship Customer Manager) provide health insurance broker CRM automatically available to it best its serving staff, including automatic notification to the broker when a premium refund schedule status of the employee changes due to family additions, promotions, etc.
14th should be HIPAA and ERISA compliance
The employer automatically protected and rather plan management made HIPAA compliant by technology as the training of administrative staff. For example, employers should not be able to view employee information HIPAA-protected and should automatically follow Department of Labor, HIPAA and ERISA guidelines for employers allow insurers access to their employees.
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