Automated integration speeds re-establishing insurance coverages for employees
As the rate of new COVID-19 cases thankfully slows and states lift stay-at-home restrictions, employers are looking to rehire. AdminaHealth, a premium billing SaaS platform, is working with benefits leaders nationally to facilitate premium billing automation and enable coverage continuation. With faster, easier, and more flexible processes, employers can reduce their administrative burden while employees get the benefits coverage they need for themselves and their families.
In the COVID-19 environment, the strain on HR staff, brokers, and TPAs to manually reconcile payroll, enrollment, and carrier bills rose to acute levels. There have been unprecedented fluctuations in employment headcounts and exceptions offered to relieve the financial burden, with insurance carriers providing discounts, rebates, and delayed payments. Though the financial considerations have been much appreciated and needed by employer groups, they have also created a significant burden to those managing billing and coverage accuracy.
With the momentum starting to swing back towards rehiring, combined with upcoming plan year renewals, AdminaHealth is helping employers adopt automated processes for premium billing, reconciliation, and payments to insurance carriers.
“COVID-19 has had a devastating effect on our nation’s workforce, and we are here to do our part to get our nation back working and covered by the insurance they need. We are leveraging our cloud-based benefits billing solution to simplify processes and create operational efficiencies so that organizations can gracefully and accurately rehire their team members,” says Robert Bull, CEO, and Founding Member of AdminaHealth.
Whether industries incur spikes in bringing back employees or slowly rebuild, rehiring and managing all the benefits changes will be challenging if processes largely continue to rely on manual practices. Employees will look at benefits offered in the context of the continuing crisis. The IRS has already provided employers the option to have a mid-year enrollment period to ensure the adequacy of family coverages. Employees with a spouse or adult children may add dependents or elect voluntary telemedicine benefits for mental health or management of chronic illnesses.
“After what we’ve all witnessed with the unexpected workforce reductions and anticipated rehiring, our commitment to reducing and eliminating administrative costs for healthcare and insurance is stronger than ever,” says Frank Bianchi, Chief Sales and Marketing Officer. “Our ability to onboard any time during the plan year, ingest direct feeds from enrollment and benefit administration platforms, and implement automation with a low-cost entry point is aligned with what the industry—and the people who work hard at their jobs—need now to move forward.”