Premium Billing Reconcilliation
Vantage Benefits Premium Billing Reconciliation services provide our clients with a comprehensive and efficient solution for managing insurance carrier premiums. VBA’s staff will audit the carrier’s premium billing statements for accuracy as well as reconcile any adjustments for termed and newly hired employees. VBA is the obvious choice for premium billing reconciliation for those clients who outsource their Section 125 and COBRA administration to VBA since we would already have the necessary participant data, to perform such premium billing audits, in our possession.
Vantage Benefits Premium Billing Administration and Reconciliation solution includes:
- Audit of monthly insurance carrier invoices to ensure accuracy with the enrollment information and premium rates
- Calculation of actual premium due based on enrollment information and adjustments
- Monitoring of premium credits for retroactive adjustments
- Timely dissemination of payment to all insurance carriers
- Production of an adjusted, if any, premium billing statement for the client
VBA has saved our clients thousands of dollars in premiums over the years, through our premium management and reconciliation audits!
