Billing Specialist- Group Benefits - Hartford, United States - The Hartford

The Hartford

Verified Company

Hartford, United States

2 weeks ago

Posted by:

Mark Lane

beBee recruiter

Description

Billing Analyst - OB10KN

Billing Specialist - OB09ON

We're determined to make a difference and are proud to be an insurance company that goes well beyond coverages and policies.

Working here means having every opportunity to achieve your goals - and to help others accomplish theirs, too. Join our team as we help shape the future.

Investigates the cause of premium discrepancies that exist between the company and agent records and determines appropriate action. Communicates timely with agents and internal departments to resolve billing discrepancies. Initiates appropriate actions, including timely cancellations, which minimize company bad debt exposure. Builds agency relationships, while monitoring their financial status. Works independently and resolves complex billing situations on accounts that involve multiple lines of insurance.

A new role can expand your knowledge and your network, and help you learn more about our business. If you think this opportunity is a fit for your career you should apply. If you are not sure you can have a conversation with your manager.

RESPONSIBILITIES:

Validate and review premium payments received daily to verify that the customer is paying the appropriate premium against expected premium and historical trends of payments received from the customer.
Request payment support from the customer to reconcile payments within required turnaround times.
Comparison of critical data elements to ensure that the data and premium received is within tolerance levels of the billed premium amount for the current month compared to prior month, and then month over month trending is within historical trends.
Reconcile data elements to ensure accurate calculation of premium is being paid by the customer and balances with the payment received.
Any variances are researched and resolved with the customer and internal sources in a timely manner.
Any issues that cannot be resolved must be escalated to management in a timely manner.
Manage, analyze, and translate customer provided information into data to be entered into our systems.
Review support provided by the customer for any member changes that need to be reflected on a future bill for the customer.
Monitor and resolve aging accounts receivable balances and suspense balances on a daily, weekly, monthly basis to meet monthly metrics.
Send and track manual notices to customers with aging accounts receivable balances as required.
Contact and provide due date to customer to remit payment and supporting documentation.
Process refunds back to customers within allotted timeframe.
Validate that all group insurance products are being paid and reported by the customer.
Recommend necessary action steps for delinquent accounts based on the customer's circumstances.
Review invoices generated after the reconciliation billing period to determine if other nonreconciled billing period generated invoices require changes to accurately reflect correct financial accounts receivable balances.
Analyze validity of invoices after cancellation.
Assist internal resources to validate and update rates and billing structure in our systems.
Track account changes that impact the customer's bill to ensure that they are done in a timely manner.
Respond to customer internal/external requests within the allotted turnaround time (metrics).
Provide paid vs billed summary statements to internal/external customers.
Understand regulatory environment and rules related to collection of accounts receivable and processing of the payments.

QUALIFICATIONS:

Prior accounts receivable experience required
Experience with accounts receivable and premium processing for group insurance products Life, AD&D, Disability, and Statutory benefits strongly preferred
Experience in the Insurance/Finance Industry strongly preferred
Strong customer service skills
Ability to communicate effectively both written and verbal
Accounting, Business, Finance or Math college degree
The ability to problem solve, critically think, and analyze data
Strong organizational skills, attention to detail and use of judgment to make informed decisions required.
Ability to multitask and manage time effectively including tracking and monitoring to meet deadlines.
Easily adapts to change and able to question processes to find efficiencies.
Work collaboratively with internal/external sources and across teams
Selfstarter and ability to remain focused and learn quickly.
This opportunity may be hired as a Billing Analyst/Billing Specialist depending on experience

For full-time, occasional, part-time or remote positions: (1) high speed broadband internet service is required, we do not recommend or support DSL, wireless, Wifi, Hotspots, Fiber without a modem and Satellite; (2) Internet provider supplied modem/router/gateway is hardwired to the Hartford issued computer with an ethernet cable; and (3) minimum upload/download speeds of 75MB download/10MB upload will be required.

To confir