We couldn’t agree more with Nick Rockwell’s recent article, “Voluntary Benefits Billing: 5 Key Questions Brokers Should Ask,” which appeared in BenefitsPRO. After navigating a successful open enrollment period, the next critical step is managing billing. While education and enrollment require months of preparation and action from brokers, the billing and payment cycle continues for the life of the benefit sold. At Paylogix, we bring over 30 years of experience working with brokers and carriers to ensure billing and payment processes are handled with technology-forward, accessible solutions.
Electronic file exchange flexibility, payment options, and online tools designed to streamline remittance and billing accuracy enhances the customers’ billing experience. The bottom line: maintaining strong client relationships depends on simplifying benefits administration processes, ensuring payment accuracy, and enabling seamless data sharing. Neglecting to plan for billing and payments can lead to costly errors, missed payments, employee dissatisfaction, and lost revenue.
Forward-thinking providers and brokers recognize the importance of accepting multiple payment methods from employees. Offering payroll deduction alongside alternative funding options such as ACH, credit, or debit card payments keeps the end-user—the employee—at the center of the process. Technology-driven communication solutions simplify sending reminders, collecting late or missed payments, and sharing benefit information, creating a win-win scenario for both policy administrators and policyholders.
Don’t risk unintentional loss of coverage and commissions due to missed remittances or payment shortfalls. Employers can effortlessly pay what they owe to the penny—even when payments need to be made to multiple carriers. Paylogix offers Consolidated Billing® and Common Remitter® Services, which ensure accurate remittance to benefit providers. Back-up funding options mitigate coverage lapses. These services are offered at no extra cost through our Co-Op Funding Program, delivering benefits to both employers and brokers.
At Paylogix, we are committed to simplifying voluntary benefits administration. We partner with benefit providers and many of the largest brokers in the industry to create seamless, secure processes that empower brokers and employers alike. When you’re ready to put technology solutions to work for your clients, let Paylogix be part of the conversation.
