Billing reconciliation is often a stress point for many brokers and employers. Most reconciliation is done manually, creating a time consuming, error prone, and unnecessary effort in what easily can be a smooth process. But why continue to do this internally with confusing deductions when you can easily partner with PES? Our billing reconciliation services can make things faster, easier, and more efficient for your team.
Let’s dive into a brief overview of what our fully customizable process looks like!
- Reconcile – We’ll reconcile the enrollment with the carrier and payroll team to ensure the correct amount of money for the policy is being paid out.
- Ensure – We’ll confirm employees who enrolled in coverage have deductions and are on the invoices, and those who declined coverage are not.
- Capture – Since accounts typically close at the end of each month, cancellation and terminations may have occurred up to a month earlier. We capture terminations and cancellation right away so that you are not stuck with a bill.
- Confirm – When a new hire is onboarded, we’ll confirm not only the coverage they enrolled in but their effective date as well.
- Follow up – Whether human or technical, errors can still occur that require refunds from carriers. We’ll work with the carrier to ensure any credit due are paid back.
Our Billing team has developed these processes and procedures that allow PES to provide a simple, effective billing experience for our clients. From inaccurate rates to missing coverage, our services provide effective solutions that can help save you a lot of time, error, and several headaches
