Billing

Are you interested in what we offer, but not sure how to proceed? Or, are you not quite sure if you need our services? Let us help you! You can either fill out a contact form, or follow this easy to navigate flow chart below to help you decide what option would be best for you and your business. If you happen to have any further questions, please fill out a contact form and we would be happy to help you decide what it is that you and your business needs.

Option A:

The Problem: The employer is collecting money from its employees, whether W2 or 1099 contractors, and is paying multiple carriers through multiple transactions.


The Solution: KMG Services will invoice the client for the aggregate amount and pay the carriers on behalf of the client.


Admin Fees: The employer will pay a nominal fee on a per employee per month basis.

Benefits Of Option A:

To the Individual

  • There is no benefit to the individual as their individual polices are already being deducted, post-tax, from their paychecks. KMG Services is managing the remittance of those funds to the vendors on behalf of the employer not the employee.

To the Broker

  • This is an additional service the broker can offer to employers on top of the benefits they already bring to the table. Thereby, adding another revenue stream for the broker.

To the Employer

  • KMG Services is solving a problem for the employer and that is the headache and time-consuming labor or reconciling invoices and managing multiple payments to multiple vendors. With KMG, the employer still takes the deductions from the employee as they have been as that is the employer’s responsibility. But the employer will only record ONE transaction from KMG each month. Saves them time. Saves them the headache. Saves them money.

Termination from Employer

  • Should the member leave the employer the member would not be allowed to take the billing benefit with them as the billing management is with the employer not the employee. This operates much like a group policy.

Option B:

The Problem: The employer is attempting to collect money from its retirees for certain benefits offered by the employer. This is becoming time consuming for the employer and a general headache.


The Solution: KMG Services will invoice the retiree for the aggregate amount of premium owed for their benefits and pay either the carriers on behalf of the client or the client themselves to remit to the carriers.


Admin Fees: The employer will pay a nominal fee on a per employee per month basis.

Benefits Of Option B:

To the Individual

  • The individual no longer needs to reconcile their invoices and figure out how much to pay the employer for their voluntary benefits. KMG Services will bill the individual with one invoice for all services and remit payment to the employer on the individual’s behalf.

To the Broker

  • This is an additional service the broker can offer to employers on top of the benefits they already bring to the table. Thereby, creating another revenue stream for the broker.

To the Employer

  • KMG is solving a problem for the employer of collecting the funds for policies from individuals. The employer will receive one check from KMG for the aggregate of the funds collected.

Termination from Employer's Plan

  • Should the member leave the employer's plan the member would not be allowed to take the billing benefit with them as the billing management is with the employer not the employee. This operates much like a group policy.

Option C:

The Problem: An association, Chamber of Commerce, or PEO wants to offer benefits to its members but since these aren’t employees there are no payroll deductions. Also, the association, may not want to be burdened with the handling of multiple policies, multiple vendors, and across thousands of its members.


The Solution: The Broker obtains permission from the association to sell voluntary benefits to the individual members. The broker can sell as many different vendors and products as they want that would require individual billing.


Admin Fees: The employee will receive an invoice with line items for each service as well as a line item for KMG Services billing fee between $5.00 and $10.00 pepm depending on the number of vendors utilized per person.

Benefits Of Option C:

Benefit to Individual:

  • They will now have access to voluntary benefits that may not have otherwise been available to them.
  • They will have their benefit payments managed through KMG Services so the member can be hands off and not have to remember who to pay and when.

Benefit to the Broker:

  • Allows the broker to add on an additional revenue stream.

Benefit to the Association, Chamber of Commerce, or PEO:

  • The Association can now offer benefits to its members as a way to attract new members.
  • The opportunity for the Association to create a small revenue stream by working with the broker to add in extra fees to the product premium.

Termination from Association:

  • Should the member leave the association the member would not be allowed to take the benefits with them. This operates much like a group policy.

Option D:

The Problem: The target client for this is the individual that is not attached to a Chamber, Association, Employer, or group of any kind.


The Solution: The Broker can sell any product, from any vendor, to an individual. KMG Services will invoice the individual for the total of all services enrolled, collect the funds from the individual, and remit to the appropriate vendors.


Admin Fees: The employee will receive an invoice with line items for each service as well as a line item for KMG Services billing fee between $5.00 and $10.00 pepm depending on number of vendors being utilized per person.

Benefits Of Option D:

Benefit to Individual:

  • They will have their benefits managed and paid for through KMG Services so the member can be hands off and not have to remember who to pay and when.

Benefit to the Broker:

  • Allows the broker to add on additional fees on top of what the vendor already pays creating an additional revenue stream.

Termination:

  • The Association can now offer benefits to its members as a way to attract new members.
  • The member can terminate their plan in accordance with the Vendor’s termination policies. KMG is not responsible for managing terms and conditions of vendor polices. Should a member wish to terminate a policy, KMG will terminate further billing and contact the broker.

Enrolling/Implementation:

Option A And Option B

Items Need:

  • Group Enrollment Forms Completed
  • Census
  • Vendor Contacts to set up billing properly
  • Vendor Product Pricing with premium fee breakout

Option C And Option D

Items Need:

  • Individual Enrollment Forms Completed
  • Group Enrollment Form Completed (If Membership Organization)
  • Vendor Contacts to set up billing properly
  • Vendor Product Pricing with premium fee breakout

NOTE: For Vendors not currently utilized by KMG Services will take up to two weeks to implement and enroll the appropriate members. Paperwork for enrollees needs to be received by KMG no later than the 15th of the month prior to the effective date to ensure timely enrollment.

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