QB Payments can be entered using multiple methods, with a variety of stored information such as payment type (check, credit card, etc.), check number, check date and memo fields. WebCOBRA.com enables Administrators and Employers to track detailed premium payment information for all Qualified Beneficiaries (QBs) quickly and efficiently. A complete history is also kept so that supervisor-level users can track the payments entered by their staff. Once entered, payment information is kept in a QB Ledger, which keeps balance information throughout time, not just a "current balance." This information is also available in report format in existing, or Ad Hoc reports, allowing users a complete picture of payment activity.
Payment Entry
Payments can be entered one-by-one for each Qualified Beneficiary (QB), or in a Batch with hundreds or thousands of payments processed simultaneously. Batch payments can include an unlimited number of QB payments. There are no limits on the number of batches processed in a day. Both Batch Payments and Individual Payment Entry screens (with QB search capability) are available from the Administrator Home Page.
Multiple Payment Type Options are available, including Check, Credit Card, EFT and Money Order. Customizable Deficient Payment Options exist in WebCOBRA.com, allowing an Administrator to tailor the system's definition of Deficient Payment and also giving Administrators multiple options on how to handle such payments.
Premium Disbursements
Easy Wizard process instantly tells you what you need to send to the Sponsor/Carrier or Client/Employer. Handle returned checks that you've already disbursed and in addition instantly see what you need to send to the Carrier/Sponsor or Client/Employer. Check Template can be found in the Internet Word Processor and is easily modified. Account Statement accompanies the check and shows the Check Recipient what premiums are paid.
Accounting
Payment Ledger shows professional accounting-based screen showing all payments and payment information as well as remaining balances and/or credit balances. Payment Ledger displays a progressive record, showing the effect of payments through time, not just "current" payment information. History Tab and Administrative Features allow the Administrator to view user-by-user tracking for payment entry, payment voiding and other payment related topics.
Standard accounting reports include Premium Subsidy Listing Report, Premium Receipt Report and Premium Reconciliation Report. Ad-Hoc Reporting also available that allows Administrators to create their own customized accounting reports.
Additional Topics
Deficient Payment Confirmation Prompts. Returned Check capabilities, including option to immediately terminate QB. Administrator-level overrides for User-level payment entry options. Ability to refund any open balance to QB via check.