Members see customized credit card or ACH descriptors on their statement, so each payment is easily identified.Communication is done online or by phone, eliminating the wasted time and resources of snail mail. Paper bills are not sent out to policyholders.There are no surprises at the provider’s office from denied claims due to lack of coverage. Policyholders become protected from lapsed coverage, as recurrent payments and card-on-file options ensure premiums are paid on time and in full.Rectangle Health can collect premiums and reconcile with insurers and their banks. Work with multiple insurance carriers simultaneously and offer a range of payment options from point-of-sale to entire system development. Agents benefit from a system that interfaces with any enrollment engine.When enrolling, employees can identify a second form of payment to help secure their coverage. Enroll employees for member plans through agent enrollment or self-enrollment. Employers can simplify payroll by eliminating premium deductions.Insurance carriers can collect payments directly from individual policyholders, facilitating participation in the Affordable Care Act (ACA) and other marketplace exchanges.Payments posted to the system of record in real-time and detailed reporting of deposits and credits by settlement date.Plus, our dedicated support team is available 24/7 to answer questions and help your policyholders make payments. Our system will run a declined credit card on file up to three times if unsuccessful, we will immediately let the member know there is a problem with payment that may affect their coverage. And, we make every effort to collect payment. Expiration reminder emails are sent to members when credit card information needs to be updated. Not only does our system improve collections and drastically reduce the chances of lapsing coverage, but it also raises policyholder satisfaction with best-in-class customer support. Improve timely premium collection and increase policyholder satisfaction Allows for optimized premium payment options that include frequency of payment, account type, and notification preferences.Customizes to the unique needs of insurance carriers, private employers, and individual agents.Assists organizations in receiving payments to keep member accounts current.Encourages members to make timely payments to keep their policies valid.Rectangle Health’s premium payment processing solution: However, on-time premium payments are essential to ensure there are no lapses in coverage when your members need it most. During times of illness or stress, it can sometimes be a challenge for people to remember to pay monthly insurance premiums. People depend on their health insurance coverage. We can help your policyholders protect their valuable coverage with automated payments. Rectangle Health benefits carriers, employers, and agents by collecting premiums from payers through credit card payments. Offering custom solutions for insurance carriers, employers, and agents
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