Take back your time from redundant tasks, while you reduce risk, control budget, and costs, with a trusted industry expert to automate your benefits carrier billing reconciliation process. This no longer has to be a tedious process that only a couple of employees understand and know. Optimize and document this process, uncover all of the 'hidden costs' and identify the true cost of your benefits.
Ask yourself, is your monthly reconciliation of carrier invoices against payroll deductions time consuming and cumbersome? If yes, we have a solution for you.
Providence will work with you to review your current benefit carrier billing reconciliation process, gather information about your benefit plans and rates, request to gain access to your carrier sites and payroll system. We will use your legacy manually produced Excel files as the template for developing our proprietary automated audit reconciliation and voucher output documents for use by your HR team to validate payroll deductions against carrier enrollment and for your finance team to enter costs correctly on the General Ledger and make payment to carriers.
Reducing errors by performing an additional audit at renewal to compare the HSA elections to the medical enrollments, to ensure that any employee with an HSA contribution was enrolled in an HSA eligible plan and level.
Additional PlanSource Solutions:
For more information on how Providence can assist you with your PlanSource needs, you can contact us online by completing the form below. Our team is ready to help your company streamline processes and services to enhance ROI and achieve business goals.