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Short-Term Disability
What are Short-Term Disability Benefits?
When an employee is suddenly injured off the job or faces an unexpected illness, they want to know they have the income to pay bills and cover living expenses while they recover. If a short-term disability (STD) plan is in place, Benveo can help administer this benefit.
STD is a financial benefit that pays a percentage of an employee’s salary for a specific amount of time when they are ill or injured and cannot work. Generally, STD pays 40 to 60 percent of the employee’s weekly income. Coverage usually starts from one to 14 days after an employee is injured or becomes ill. The duration of coverage may vary based on eligibility.
Plan Options
Benveo can help administer an STD benefit plan by providing employers with either full administration assistance or by augmenting an employer’s administration of the benefit through Benveo’s "Advice to Pay" service.
Full Administration
With full administration, Benveo will adhere to the STD benefit guidelines when reviewing physician documentation, tracking STD time, and issuing the STD benefit payment.
"Advice to Pay"
With "Advice to Pay", Benveo will adhere to the STD benefit guidelines when reviewing physician documentation and advise the employer to make the STD benefit payment allowing the employer the flexibility of control.
THE COMPLETE COBRA ADMINISTRATION SOLUTION
Reduce employer liability and the administrative burden of managing COBRA in-house with Benveo's COBRA solution.
The federal Consolidated Omnibus Budget Reconciliation Act (COBRA) requires employers to extend group health benefits to employees and their families who lose benefits due to certain qualifying events. Employers required to comply can save time, and money, and reduce liability by choosing Benveo COBRA services.
Benveo offers a secure, web-based COBRA management platform that makes it very easy to: Add new employees and "Qualified Beneficiaries"
Run a wide range of reports
View the "Qualified Beneficiary" ledger
View all available data-related options
Our web-based COBRA administration technology eliminates paperwork and time-consuming mail or fax transmissions. Employers simply log in and add employees and "Qualified Beneficiaries" with simple, easy to use tools. Entering the required data is faster than filling out forms and sending them to Benveo. Phone calls you once made to relay changes or obtain status have been replaced by a fast, easy login and online data look-up.
Quality Customer Service & Expertise
Employers have direct access to a dedicated COBRA Specialist that is highly knowledgeable and has the ability to provide assistance with compliancy questions. For employers that want to view COBRA information online but not enter it, Benveo provides the option to notify us of the “Qualifying Event” while still being able to utilize the online functions for viewing COBRA participant information. Services that Benveo COBRA specialists can do on behalf of employers include:
■ Add new employees and “Qualified Beneficiaries”
■ Ensure proper notification is sent within COBRA time frames
■ Collection of premiums paid by “Qualified Beneficiaries”
■ Report distribution
Our call center is also ready to assist “Qualified Beneficiaries” with their questions, minimizing calls that go to the employer.
Virtually all U.S. employers with 20 or more full or part-time employees, who offer a healthcare benefit plan, are subject to the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). Under COBRA, employers are required to let their plan participants, known as “Qualified Beneficiaries”, continue their healthcare coverage at the group rate for a specified period of 18, 29, or 36 months, depending upon the “qualifying event” involved. Benveo helps employers comply with COBRA requirements by providing comprehensive, yet easy-to-use, web-based tools, expertise, and excellent Customer Service. These specific COBRA services include:
24/7 Web-Based Convenience
Benveo offers a secure, web-based solution that makes it very easy to:
■ Add new employees and “Qualified Beneficiaries”
■ Run a wide range of reports
■ View the Qualified Beneficiary” ledger
■ View all available data-related options
Our web-based COBRA administration technology eliminates paperwork and the time-consuming mall of fax transmissions. Employers simply log in and add employees and “Qualified Beneficiaries” with simple, easy-to-use tools. Entering the required data is faster than filling out forms and sending them to Benveo. Phone calls you once made to relay changes or obtain status have been replaced by fast, easy login and online data look-up.
Premium Billing and Collection
Costs of continuation coverage cannot exceed 102% of the applicable premium for the coverage period.
Benveo takes the responsibility of collecting premiums from all “Qualified Beneficiaries” on a monthly basis and provides a consolidated check of all premiums received with supporting documentation for your files.
Notifications and Record-Keeping
Benveo’s web-based COBRA solution makes it easy to notify all covered employees and spouses of their rights under COBRA as qualifying events take place. All correspondence is stored securely and coverage is implemented for “Qualified beneficiaries” who choose to make it easy to notify Drug Card vendors of all COBRA-related activity.
If Benveo is selected to also become the Claims Administrator, COBRA is automatically integrated into the benefit termination process which means no additional work on the employer.
Get the Help You Need to Comply
Benveo offers the administrative experience, regulatory knowledge and information technology to ease the burden of COBRA compliance
COBRA Reporting Capabilities
Benveo’s web-based COBRA solution gives employers the ability to generate and view a wide variety of reports on “Qualified Beneficiaries”, retirees, and the overall impact COBRA is having on the benefit plan. These reports can be run on the current data and exported to an Excel or PDF format. In addition to the pre-formatted reports, employers can also create ad-hoc reports as needed.
