We perform secure and accurate reconciliation accounting services for tens of thousands of participants on a daily basis. Our benefit reconciliation team acts as a point of contact with vendors and carriers, managing enrollment, employee and employer contributions, as well as vendor payments. EBS identifies and reports data and premium issues to carriers and employers, thus reducing or eliminating the loss of premium by overpayment that can occur when managing multiple vendors. Benefits of EBS’ Invoice Reconciliation
- Reduces employer’s administrative overhead allocated to invoice reconciliation and payment.
- Ensures payments are made only for covered participants and their dependents by a secure and reliable tracking system
for benefits and status changes.
- Detects account discrepancies, saving employers thousands of dollars in accurate invoice processing.
- Secure transfer of benefit information data between payroll, human resources and vendors. Our data transfer systems are
the same as those used by the top banks in the United States.
- Timely and accurate invoice payments made by our dedicated in-house reconciliation team on a monthly basis, once payroll
reports and funding have been received. EBS Process and Set-Up
- Employer will provide EBS with all plan information.
- Employer to provide EBS with enrollment information including names, unique ID (social security number or employee ID),
address, date of hire, date of birth, any enrolled dependents and the elections for each benefit.
- Upon receipt of all data, EBS will enter all information into our bill reconciliation and management system.
- EBS will also contact all carriers, set-up billing and reconciliation meetings, produce a billing calendar for payments and
create procedures for adding and deleting participants, etc.
- EBS will reconcile and remit payments to carriers.
- EBS will collect enrollment information on all plans on a regular basis through electronic files.
- Our billing specialists will create a consolidated billing statement each month and forward in an electronic
format to the employer.
- Upon collection of payment from the employer, EBS will reconcile the payment and remit payment to the carriers with
the required payment detail.
- EBS will send a final report to the employer each month, including copies of all bills and reconciliation statements.
- Employer will send eligibility reports that include termination, leave of absence and new hire information on a scheduled basis
to be agreed upon during implementation.
- Any employees who are having billing or eligibility issues can call the EBS call center. Our bilingual call center is fully staffed
with helpful representatives. Our call center is open 8AM – 5 PM PST, Monday through Friday.