Administration Capabilities
NABCO’s billing capabilities allow the client to have multiple lines of coverage with select carriers on one convenient invoice. The employer has a choice of multiple billing modes with either List Billing or Self-Administered billing.
Consolidated billing allows employers to receive a single invoice from NABCO and make a single payment for their employees’ ancillary coverages. NABCO’s billing has the flexibility to show the employer the premiums by line of coverage for an entire organization or divided by location.
NABCO’s Administration Team coordinates timely and accurate billing, while managing and maintaining employer/employee eligibility records. Our customer service strategy is to assign an Account Manager to each employer so they will have Direct Access to their Account Manager for Direct Answers.
Commission Payment
NABCO generates commission payments on a monthly basis but has the flexibility to do it more often if needed. Commission statements are produced which provide a detailed accounting of each premium payment including the premium by coverage, month due, and commission or override amount. Commission checks and statements are mailed on the next business day to the broker’s address.
Our commission system is designed to allow for multi-level overrides. We can administer either graded scales or flat percentages. Each January, 1099 forms are provided to brokers and medical providers.
Claim Adjudication
NABCO’s Claims Department is comprised of a fully staffed group of professionals, each with their own experience in a specific area of claim processing. Claimants, clients and medical providers are continually updated with the status of claims via general correspondence or an Explanation of Benefits (EOB) form. An annual summary of disability payments and deductions is provided to the employer. Waiver of premium applications are reviewed and adjudicated.
NABCO also offers Administrative Services Only (ASO) to larger employers. Our ASO programs can be tailored to each client’s needs, and include disability and life coverages.
Underwriting
New Business:
Our risk underwriting staff has over 80 years of experience. Several hundred proposals are issued each month on cases ranging in size from two to several thousand lives.
Renewal:
This unit is responsible for processing the renewals of existing business. A complete and thorough review of the claims experience, benefit design and manual rates are included. Policy amendments are also underwritten and approved. 5500 information is supplied to eligible clients.
Medical Underwriting:
This unit is responsible for determining individual risk by medically underwriting new applicants and late enrollees. Our staff is experienced in underwriting for life, disability and medical coverages.
Contract Filing and Compliance
Our Contract Department prepares and files policy submissions directly with state insurance departments on behalf of the carriers. We also create master policies and employee certificates.
Broker Appointment
NABCO has dedicated a specific department to expedite the processing of broker appointments as well as renewal appointments. We work in conjunction with the carrier and state insurance departments.
Carrier Accounting
On a monthly basis, our Finance Department provides various reports to the carrier detailing the prior month’s premium and/or claim transactions. Many of these reports can be customized to meet the specific needs of each carrier.
Following the month-end reconciliation of processed premiums, an ACH transfer of the appropriate funds is made to the carrier’s designated bank account.
Marketing
NABCO has the ability to provide immediate exposure of a client’s products to our network of producers across the USA. If desired, we can provide combination billing statements, with multiple carriers for a variety of coverages.