Billing Specialist- Group Benefits

Billing Analyst - OB10KN

Billing Specialist - OB09ON

We’re determined to make a difference and are proud to be an insurance company that goes well beyond coverages and policies. Working here means having every opportunity to achieve your goals – and to help others accomplish theirs, too. Join our team as we help shape the future.          

This role can have a Hybrid or Remote work arrangement.  Candidates who live near one of our office locations: Hartford, CT, San Antonio, TX, Lake Mary, FL, Phoenix, AZ, Aurora, IL, New York City, NY and Danbury, CT will have the expectation of working in an office 3 days a week (Tuesday through Thursday).   Candidates who do not live near an office will have a remote work arrangement, with the expectation of coming into an office as business needs arise. 

Investigates the cause of premium discrepancies that exist between the company and agent records and determines appropriate action. Communicates timely with agents and internal departments to resolve billing discrepancies. Initiates appropriate actions, including timely cancellations, which minimize company bad debt exposure. Builds agency relationships, while monitoring their financial status. Works independently and resolves complex billing situations on accounts that involve multiple lines of insurance.​

A new role can expand your knowledge and your network, and help you learn more about our business. If you think this opportunity is a fit for your career you should apply. If you are not sure you can have a conversation with your manager.

The Group Benefits Premium Admin Teams handle the reconciliation and application of payments for customer’s Group Insurance benefits (Life, Disability and Statutory) for all business segments, National, Regional, Priority and Small business.  Additionally, the Group Benefits Premium Admin Team’s environment is fast paced and changes daily. Our teams are part of a larger Group Benefits Team that includes List Bill, New Issue, Eligibility, STAT, Premium Audit, Commissions and Banking & Revenue. 

As a Premium Admin Analyst, you will work with internal and external customers in all aspects of accounts receivables, payment reconciliation, premium application, and month over month analysis.  You will manage a book of business to ensure accuracy of premium paid, accounts receivable due and timeliness of premium receipt.  In addition to the latter, you will also look for trending of billed amounts month over month to guarantee financial accuracy in accounts receivable balances.

RESPONSIBILITIES:

• Validate and review premium payments received daily to verify that the customer is paying the appropriate premium against expected premium and historical trends of payments received from the customer.

• Request payment support from the customer to reconcile payments within required turnaround times.

• Comparison of critical data elements to ensure that the data and premium received is within tolerance levels of the billed premium amount for the current month compared to prior month, and then month over month trending is within historical trends.

• Reconcile data elements to ensure accurate calculation of premium is being paid by the customer and balances with the payment received. 

• Any variances are researched and resolved with the customer and internal sources in a timely manner. 

• Any issues that cannot be resolved must be escalated to management in a timely manner.

• Manage, analyze, and translate customer provided information into data to be entered into our systems.

• Record and review premium data entered within our systems and apply the payment to accurately reflect and record our accounts receivable balances and funds in suspense within the timeframe allotted. 

• Review support provided by the customer for any member changes that need to be reflected on a future bill for the customer.

• Monitor and resolve aging accounts receivable balances and suspense balances on a daily, weekly, monthly basis to meet monthly metrics.

• Send and track manual notices to customers with aging accounts receivable balances as required.

• Contact and provide due date to customer to remit payment and supporting documentation.

• Process refunds back to customers within allotted timeframe.

• Validate that all group insurance products are being paid and reported by the customer.

• Recommend necessary action steps for delinquent accounts based on the customer’s circumstances.

• Review invoices generated after the reconciliation billing period to determine if other non-reconciled billing period generated invoices require changes to accurately r