May 5, 2021
BenefitMall, the leading provider of next-generation broker services, today announced the launch of a new integrated COBRA solution powered by WEX. Through this partnership with WEX, BenefitMall's broker partners will have access to best-in-class services and a COBRA and Direct Billing Administrative portal that streamlines the process.
"As we look to bring on new partnerships and integrated solutions, we are constantly looking for those that will help our broker partners stand out from the competition," said Tiffany Stiller, Vice President of Carrier Relations for BenefitMall. "With this WEX partnership, we can now provide scalable technology, advanced integration, and best-in-class services that help reduce administrative costs and increase profit margins for our brokers."
BenefitMall COBRA powered by WEX enables brokers to grow more efficiently with a fully automated process that will track mailing and notices automatically. Additionally, this partnership lessens the burden of managing the complex federal regulations and ever-changing reporting needs. Through the platform, brokers can complete administrative and accounting reports with ease and provide online benefit election options for clients.
The services of this new integrated solution include:
- Integrated billing and payment processing, including full paper and electronic processing
- State-of-the-art, enterprise-class, high-volume image capture technology
- Integrates directly with the bank for settlement
- Nation's only postmark date aware lockbox
- Fully automated and compliant
- Highly scalable and responsive to changing volumes and deadlines
- Completely "hands-off" barcode technology
- Daily proof-of-mail reports
- Dedicated sales and service resources assigned to the partnership
- Access to an experienced support staff who understands the ins and outs of COBRA administration and direct billing processes
- A complete view of clients and their status in the COBRA and Direct Billing Administrator Portal
"COBRA is likely an employer's highest unfunded liability, and non-compliance with COBRA laws can cost a company thousands in penalties," said Andy Doeden, Senior Vice President of National Sales at WEX. "We are proud to partner with BenefitMall to provide a new solution that helps brokers to efficiently offer this critical service to their clients and yet gives them peace of mind knowing all compliance and administrative checkboxes will be automatically completed."
Headquartered in Dallas, BenefitMall is the largest general agency partnering with a network of 20,000 Brokers to deliver employee benefits to more than 140,000 small and medium-sized businesses. BenefitMall uniquely leverages innovative technology backed by human expertise to provide the fastest, easiest, and most secure benefits selling experience for carriers, brokers, and their clients.
Owned by Management and The Carlyle Group, BenefitMall also operates HealthCareExchange.com, the leading online community for health care reform and compliance. More information is available at www.benefitmall.com.