Understanding Autopay in Take Command
The Autopay feature in Take Command facilitates smooth employer-managed funding, insurance carrier premium payments, and employee reimbursements through a secure and automated process. This guide explains the key components of Autopay, from setup to premium reimbursements, including its use with QSEHRA plans.
1. Setting Up Autopay
Autopay setup includes creating a secure disbursement account and connecting a funding source. Here's how:
Disbursement Account Creation: - Admins complete the Autopay account application within Take Command, providing required information such as name, address, Social Security Number (SSN), and a valid ID document for verification. - The disbursement account ensures compliance with federal regulations while offering security and fund-monitoring services through Take Command's banking partner.
Funding Account Connection: - Employers link an external funding account to the disbursement account. Funds are pulled monthly to cover employee premiums. Admins must ensure sufficient funds are available before the 14th of each month.
2. Funding and Reserve Requirements
To maintain Autopay functionality, Take Command employs reserve requirements and proactive notifications:
Minimum Reserve: - Employers are required to maintain a reserve account balance of 5% of the total monthly premium or $1,000, whichever is higher. This reserve adjusts dynamically based on workforce changes and covers mid-month enrollments or unexpected adjustments.
Notifications: - Notifications are issued seven days and two days before monthly funding, helping employers prepare. Users in roles like Accountant or Payroll Specialist are excluded from these notifications.
3. Premium Payments and Enrollment Options
Different enrollment methods—Easy Enrollment and Self Enrollment—impact who initiates premium transactions:
Premium Management: - Employers fund the disbursement account, and insurance carriers directly pull premiums. If premiums exceed allowances, the difference is calculated and withheld via payroll, with details included in the monthly report.
Enrollment Methods: - Easy Enrollment: Take Command handles application setup, payment arrangements, and proof of coverage documentation. - Self Enrollment: Employees are responsible for setting up their payments directly with insurance carriers and can access payment details through the portal.
4. CSV Reports and Data Management
Admins can view and download funding reports directly from the Take Command portal:
Navigate to the "AutoPay" section and select the "Funding Report" tab within the Activity feed.
Select the desired month and download corresponding CSV files. The reports include fund amounts, employee details, and payment activity for transparency and record-keeping. Admins can also monitor upcoming funding activities.
5. QSEHRA and Individual Plan Reimbursements
In addition to Autopay's role in direct payments, it supports reimbursement mechanisms for QSEHRA plans:
Reimbursement Process: - Employees upload proof of insurance coverage and premiums to the portal. Once verified, Take Command reimburses premiums based on the employer’s QSEHRA allowance and schedule.
Direct Payments for QSEHRA: - Through Autopay, employers transfer funds to employees’ accounts for reimbursements efficiently and securely.
Summary
Autopay in Take Command enables seamless fund transfers, detailed reporting, and direct invoice payments while ensuring compliance with financial regulations. By integrating Autopay with QSEHRA plans, the platform simplifies health insurance management for both employers and employees. Proper account setup, meeting reserve requirements, and understanding enrollment options are key steps to maximizing Autopay's benefits.