Participant populations requiring direct billing services often pose exceptional administrative burdens while increasing the difficulty of capturing premium dollars. Secova offers our clients an easy and cost-effective solution for collecting premiums from active employees, retirees, COBRA participants, employees on leave, and employees on disability. Secova’s Direct Billing services offer many benefits to our clients, including timely billing, monthly reconciliation, ease of wire transfers, increased cash flow through a secure accurate transactional system, and instant access to back-up documentation.
Direct Bill services include:
- Flexible employer-directed premium billing and collection process
- Instant account access and reporting
- Monthly reconciliation reports
- Customizable invoices at the interval of your choosing
- Payment Options for participants to utilize for a higher return on payments received
- Grace period/reminder letters
- Premium billing collection with detailed employer activity and remittance reports
- 24×7 call center support
Secova’s program performs all administrative Direct Bill functions on behalf of our clients, allowing HR staff to focus on business-critical objectives. We contact each participant and provide the option to send in payments by check or enroll in automatic withdrawal from a bank account. Secova will then track all payments and reconcile any discrepancies. At the end of each payment cycle, we remit a premium disbursement and detailed summary to our clients to review monthly participant activity.