Group Life & Health
Advanced Group Benefits Administration Platform
The Group Life & Health Benefits Administration module gives unions, associations, brokers, employers and third-party administrators the ability to set-up and manage group benefit plans for employees and related people. Administrators can create any number of group benefit plans with unlimited benefit types from multiple benefit providers and the system then automatically calculates premiums and tracks all relevant data.
Organize and Customize
In addition to tracking employers and locations/divisions, PX3000™ organizes classes (management, salaried, hourly, etc.), beneficiaries, insurance companies, and premiums with tables that are customizable along age groupings and categories such as smokers/non-smokers.
Enter Members and Insurance Choices
Once the parameters and participants are defined, the administrator can easily enter new members, assign them to an employer and class, and quickly set up each person’s individual choices such as additional voluntary life insurance and spousal insurance. PX3000™ then calculates benefit coverage and premiums for each member and related person as well as calculating the monthly employer premiums due to each insurance provider, including the handling of retroactive adjustments.
Hours Bank and Invoicing of Premiums
The system calculates all premiums for each Member and invoices Employers and Members (in case of Self Pay). It then manages all retroactive adjustments along with Accounts Receivable and short/late accounts. PX3000™ also includes an Hours Bank for unions that cover the benefits cost for Members.
Learn About Penad’s Administration Solutions
Get in touch to schedule a demo and to speak about the needs of your organization.