Invoice Reconciliation Services And Eligibility Tracking

EBS performs secure and accurate reconciliation accounting services for tens of thousands of participants on a daily basis. Our benefit reconciliation team acts as point of contact with vendors and carriers, managing eligibility and enrollment information, variable benefit rate structures, 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.

This process requires constant, proactive attention to the daily adds, changes and terminations to be sure that active members have coverage at the premiums and levels that they selected and that excess premium payments are not being made for inactive members. EBS has custom-built systems for the comparison and tracking of benefit enrollment information, for both pre-tax and post-tax funded amounts, and multiple carrier and payroll formats. COBRA and retiree benefit payments can be integrated into this process, further enhancing the capability of the employer to effectively allocate financial resources for benefit programs.

With our proprietary benefits management tool, BenCentral, EBS also provides full system benefit eligibility tracking. BenCentral allows us to track and reconcile all benefits including eligibility, rates, coverage levels and status changes. Additionally, it acts as a system of record for premium payment in established carrier relationships.

Benefits of EBS Invoice Reconciliation

• Reduces employer's administrative overhead allocated to invoice reconciliation and payment
• Ensures payments are made for covered participants and their dependents
• Provides a secure and reliable tracking system for benefit and status changes
• Eligibility tracking allows carriers or self-billed plans to have the most up-to-date information. (Note: eligibility tracking is a separate service; applicable fees apply.)
• Detects account discrepancies, potentially saving employers thousands of dollars in inaccurate invoice processing.
• Secure transfer of benefit information data between payroll, human resources and vendors. How secure? 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.

Standard Plan Implementation Services

• System setup scheduled to meet client's needs
• Establish data exchange parameters
• Establish demographic, benefit and rate structures and upload to systems
• Correspond with carriers to receive monthly invoices

Standard Administration Services

• Receive and upload benefit enrollment information for both pre-tax and post-tax
  • Employer contributions
  • Employee contributions
• Receive and process election of benefits (new hire), terminations, changes
• Receive and process employer and employee contributions every pay period, including adjustments
• Prepare and communicate discrepancies between enrollment (expected) and payroll (received)
• Compare payroll (received) with invoice from carrier
• Prepare and communicate discrepancies between payroll (received) and invoice (requested)
• Notify carrier of termination of benefits, new hires, enrollment changes, end of eligibility
• Tracking and notification of all carrier payments made
• Receive and process premium payments from members outside payroll (as needed, fee may apply)
  • ACH Flex Benefit option
  • Checks or money orders
  • Credit card option is available for an additional fee
• Notify carrier of COBRA enrollments and status changes (if COBRA option is selected)
• Track employee and employer funding of benefits
• Carrier or employer premium processing, once monthly
• Monthly employer reporting
  • Group account activity
  • Disbursement reports

Standard Customer Service

• Toll-free live customer service Call Center
• Customer service available via e-mail
• Dedicated plan administrator at client level

Standard Renewal Service

• Update plan design
• Update plan year benefit information in systems
• Update data exchange parameters, as needed
• Annual enrollment system load

Optional Services (additional fees apply)

• Custom or divisional reports
• Custom programming or data mapping
• Open enrollment fulfillment
• Open enrollment assistance
  • On-line
  • On site, including laptop data management
  • EBS Call Center telephone enrollment
• Full benefits eligibility tracking (EBS becomes system of record)