Consolidated Billing is a way for the Employer
Group to reduce the burden of some of their payroll functions by
transferring the reconciliation of payroll deductions with insurance
company billings to a Third Party Administrator. The Employer Group
remits one check for all insurance products to Crider Insurance Services,
who in turn, remits the payroll deductions to the separate vendors.
By using a “one-check” system,
the Employer Group is able to focus its attention and administrative
capacity on the other responsibilities of the payroll accounting staff.
Not only does the Employer Group free up time spent
on reconciling the billing statements, printing and re-printing
checks, and mailing all the statements, but the phone call volume
from insurance companies and vendors is also greatly reduced.
Insurance Services becomes the first contact for the insurance
companies with regard to billings and premiums. Instead of dealing
with many different insurance companies, the Employer Group is down
to dealing with one source – Crider