One Place 2017 | Consolidated Billing

Cindi Van Meir, Benefitfocus senior manager of product marketing, announces a new consolidated billing option for employers on the Benefitfocus Platform.

 

Transcript

Another area where we learned that our customers could benefit from accuracy, communication and augmenting their team so that we can take on some of these services is in consolidated billing. Each month, we know that your teams have to manage the invoice and payment of your monthly benefits, and that as you increase the number of benefits that you offer, that's more vendors, more people that you have to manage. Unlike some of your other partners in the organization whose accounting department might take care of this function for you, in benefits, it's a little bit different, right? You have to make sure the payroll's correct, the invoices are correct, the eligibility is up to date and, as your eligibility and enrollment system of record. We know that we can do this for you very, very accurately. We started an early adapter group or program last year, and let's look at their experience with the consolidated billing platform. 
 
It begins on the benefit administrator role. Right from the home page, they can access the consolidated billing manager and on the landing page, they'll have one single view of all of their invoices across all of their products with a total premium amount. When they go to their invoice history, we'll have a summary and a detailed view of all of those invoices across each month so that you can also see the adjustments that have occurred invoice after invoice. When it's time to make a payment, you can log in and make a single payment and Benefitfocus will remit all those payments to your carriers on your behalf. And it's available this summer for all of our Benefitfocus customers.
 
Yeah, pretty cool. Now, we didn't stop there. We recognize that technology is wonderful, but sometimes you just want a little help and have someone do this complete function for you. I'm really excited to announce for you that this winter, we'll have invoice reconciliation services available to be paired with consolidated billing where Benefitfocus will perform this function on your behalf. It's a total solution for monthly group billing.
 
We still didn't stop there. We know that as you increase the number of benefits, you get more creative with your funding arrangements. There's lots of ways that all of this billing and payment can work. In fact, we talked to a customer last week who had 31 different leave of absence payment scenarios. That's just for leave of absence, nothing else. Some of you might be able to relate, right? So we have put this all together in a portfolio of products and services called Benefitfocus Account Services. Consolidated billing and invoice reconciliation will be the first that we're rolling out along with direct payment which is a non-payroll deduction of voluntary products and then throughout the year and into next year direct billing.