The AutoPay payment solution simulates the same cashflow experience as a traditional group plan. Meaning, employers pay the insurance premiums upfront and then withhold the employee's portion from their paycheck as needed. AutoPay enables the convenience of a group plan with the personalization & choice of the individual market.
1. Autopay Disbursement Account Setup
From their Take Command portal, the admin completes AutoPay account application & sets up their disbursement account directly through our secure banking partner. The admin can manage it independently, easily updating their information at any time.
Our banking partner offers world-class security and account monitoring. They will also proactively check fund sufficiency to avoid payment issues.
When opening an account with our banking partner, admins will be required to enter information like name, address, SSN, date of birth, etc. to verify their identity and/or the identity of beneficial owners, due to federal regulations. A driver ’s license or other identifying documents may also be required.
2. Disbursement Account Funding
The final step to complete AutoPay enrollment is connecting an external bank account to fund the program. Take Command estimates the first month's premiums based on the client's ICHRA design and expected elections. Weekly funding events can occur during the enrollment period as we adjust for actual employee elections.
Funds are then pulled from the connected payment account monthly to cover future premium payments. Employer must make funds available prior to the 14th of every month. We also require a minimum account balance to ensure employees' coverage is always protected (e.g. for QLE, new hires, carrier transaction errors).
3. Employee Plan Selection & Payment Setup
All ACA-compliant plans are eligible for AutoPay, but Medicare is not. Employees have access to their own unique payment details to pay for plans. Payment processes differ based on plan selection.
Easy Enrollment (recommended): Take Command does all the heavy lifting. Once an employee selects their plan, Take Command submits the application, sets up payments, and confirms proof of coverage (POC)
Self Enrollment: AutoPay can still be used to directly pay premiums, but the employee needs to set up payment directly with carrier when they enroll. The employee receives their individual account number when they confirm their selected plan in the Take Command portal and is directed to the carrier’s site to complete enrollment, make their initial payment and set up recurring payments. The employee must submit proof of coverage to Take Command once annually. This POC validates the premium amount for monthly payment.
4. Paycheck Withholding & Reimbursement
For employees whose premiums are higher than their monthly allowance, employers can withhold the employee portion from their paycheck (similar experience as a group plan). Other employees may need to be traditionally reimbursed (e.g. those on Medicare or opting out of AutoPay).
For both withholding and reimbursement, Take Command provides all necessary reporting so the admin can easily upload into their payroll system. These reports are generated monthly and made available on the Admin Portal.
