Billing & payments
Set it up and forget it. We'll handle the rest.
Employees don't want to bother with bills or making regular payments once they elect their benefits. By offering automated payroll deduction, bank withdrawals, and other online support, employees can set up recurring payments and access their benefits information only when they want or need it.
In the meantime, we put our back-end billing processes and systems to work, interacting with payroll providers, banks, and carriers to make sure payments for benefits are received and distributed in a timely and accurate manner. This seamless integration leads to greater employee satisfaction and enrollment retention.
Payroll deductionsWe currently collect and reconcile premiums associated with 3.4 million individual accounts every single month, and continue to shift these processes as payment processing continues to evolve. To support this, we have in place the experienced staff, secure file transmissions, banking assets and systems, and audited financial processes that have led to a 15-plus-year track record of successfully providing accurate premium administration for complex benefit programs.
We work with you to customize a solution that meets the specific requirements of your benefit offerings and payroll providers by providing the following:
- Determination of deduction amounts
Our systems use custom programming and rate tables to determine and store premium or allotment amounts based on the benefit options enrollees select. These amounts are then used in billing files transmitted to your enrollees' payroll providers telling them how much to deduct.
- Payroll billing process
Using the calculated deduction amounts, we create and transmit billing files at an agreed upon frequency and secure transmission method with your payroll providers. We coordinate file transmission schedules with payroll offices and store and track these schedules. Our control reports and quality-assurance processes ensure that all bill amounts are accurate and files are sent on time by scheduled cutoff dates.
- Billing control process
Partnering with payroll providers, we use billing error files to detect and investigate billing process exceptions. These controls enable us to find and resolve errors early, minimizing impacts to enrollees.
- Fund transfers
We work with payroll providers to resolve discrepancies between payment file amounts and funds received and coordinate the transfer of funds via an electronic funds transfer (EFT) to the benefit carriers and/or plan or program sponsor. As part of this process, we provide premium summary reports so that carriers can reconcile their own data.
Other payment optionsFor organizations that do not provide payroll deductions or want to offer additional payment options, we also administer the following:
- Automatic bank withdrawals
We offer automatic bank withdrawals as another automated payment option. Premiums are withdrawn from your employees' checking or savings account on a regular basis. They will never miss a payment with this convenient and secure method for premium payment.
- Direct payments
We offer billing and processing of direct payments for organizations that do not provide payroll deductions or want to include direct payments as an option, or to collect missed payroll deductions in certain circumstances like government furloughs or leaves of absence. We are able to process high volumes of direct payments in an efficient, accurate, and timely manner using our established processes and systems and state-of-the-art remittance processing centers.
- Online debit or credit card payments
We offer employees the ability to make secure, one-time or recurring online payments for their direct bills. Providing this just-in-time payment option can prevent coverage terminations and the expenses associated with reinstatements.
Partner with us
We currently administer employee benefits supporting more than four million enrollments and partner with more than a dozen national insurance carriers, including several Fortune 500 companies. We are a wholly owned subsidiary of John Hancock, one of the oldest and most trusted of all U.S. insurers. Find out how we can put our expertise to work for you.