Remittance Methods, Schedules, and ACH Setup Process for COBRA Premiums with Anuvi
Anuvi offers a choice of remittance methods and ensures transparency in its schedules and processes to make COBRA premium receipt simple for employers. Below, we outline key details about the available remittance methods, schedules, and how employers can switch to ACH payments.
Remittance Methods
Employers receiving COBRA premium payments through Anuvi can choose between:
Mailed Check: Funds are sent to the employer via check.
ACH (Automated Clearing House): Payments are deposited directly into the employer’s bank account.
Remittance Schedule
Remittances are processed and sent approximately two weeks after the end of each month. For example, premiums collected during November would be remitted to employers in mid-December. This ensures accurate processing of funds and tailored delivery.
Switching to ACH Payments
To switch from receiving payment by check to ACH, follow these straightforward steps:
Request to switch to ACH remittance by contacting Anuvi directly.
Provide the necessary ACH information for your organization as instructed by Anuvi.
Anuvi will then send an ACH setup form or request.
Complete and submit the setup form according to the provided instructions.
Once the setup is complete, your remittance will be processed via ACH going forward.
Additional Notes
The ACH setup form must be correctly completed and submitted in a timely manner to avoid delays.
Be sure to review the mailing address or banking information provided to Anuvi to ensure accuracy.
By following this process and understanding the remittance methods and schedules, employers can effectively manage the receipt of COBRA premiums in a way that best suits their organizational needs.