SINGLE DIRECT DEDUCTION
THE NEED
In some instances, the ability to provide a payroll deduction for benefits isn’t an option. For example, we have seen this to be the issue with older payroll systems, large groups, and some labor union benefits. This limitation often arises from groups that desire to offer voluntary benefits.
THE CHALLENGE
Both organizations and brokers are challenged to find a suitable solution to find options to offer the benefits and collect the premiums in an efficient and consistent way. Payroll deduction for voluntary benefits continues to become more and more complex. An alternate solution is needed.
THE SOLUTION
An employee is able to have the benefits deducted from their personal bank account or credit card. Conveniently, this can be scheduled to occur monthly, semimonthly, biweekly, weekly, and just about on any other schedule necessary.
OUR PROCESS
01
INDIVIDUAL'S
BANK or
CREDIT CARD
02
AMERIWORKS
FINANCIAL
03
INSURANCE COMPANY 1
INSURANCE COMPANY 2
INSURANCE COMPANY 3
THE RESULT
Premiums are collected from an employee’s bank account or credit card and reconciled with the insurance company’s billing. Once reconciled, the funds are forwarded to the insurance company on behalf of the employee to pay for their benefits.