What types of billings does iBenefits support?
iBenefits Billing System does so much more than just produce bills.
It supports benefit plans including traditional, Flex, Hour Bank, and Plan Modules.
iBenefits also offers billing Self-Admin, Member Direct Billing, and Individual Billing.
Administrative tools such as Accounting and Member Enrollment support billing and eligibility.
TYPE OF BILLINGS
- Traditional Group Billing
- Flex Billing
- Individual Billing
Bill and remit premium by member, including tracking payments and balance owing by member
- Member Direct Billing
Member contribution is collected directly from members and not through their payroll.
- Self-Administration Billing
For clients that manage and provide their own billing Information. Comprised of both estimate and actualized billings.
- PDF and Excel Format
- Email Billing or allow Employers to pick up from the Employer portal
- Scheduled billings
Flexible calculation of premium, employer and employee contributions, tax amount, payroll deductions and taxable benefits using industry-standard business rules, such as, graded schedules, termination rules, reduction clauses, percentage of salary, dependent-based rates etc.
When non-standard rules are required, iBenefits dynamic rules engine can be used for creating the requied benefit calculation.
Accurate retroactive adjustments using historical rates, plan information, member history and billing history.
TYPES OF PLANS
All plan types are supported including Traditional, Hour Bank, Flex plans, and Modular plans. Plans can be setup to use multiple funding pools.
Cash Account allows keeping track of deposits and withdrawal amounts.
Bulk update/import including benefits, salary, adddress and dependents. Additional imports for rates, accounting transactions and hours.