Compare your current reimbursement plan administration process with RepayMe.
Discover how much time RepayMe can save you (30k pdf).
Traditional Claim Submission |
RepayMe Claim Submission |
- The participant searches for a claim form. If they don't have one, they take time from work to go to the HR/Benefits department to pick one up.
- The participant manually fills-out their claim form, each time filling out the same contact information, name, address, etc. If there are more claims than will fit on a single form, the participant must manually complete yet another form.
- The participant then has to copy the claim form or fill out a duplicate for their records. Usually the copying takes place at work, again taking time away from their workday.
- The participant then attaches the required documentation and sends it to the administrator (employer or TPA) for payment processing.
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- The participant goes online and enters their claims, as many as they wish. As claims are entered, the YTD claims balance is updated automatically, so each participant knows the most up-to-date information about their account. RepayMe also validates each entry before it's submitted, thereby reducing claim rejection (duplicate claim, submitted past the grace period, etc). RepayMe automatically generates a printable claim form, which the participant can print on their local printer.
- Required documentation is attached to the printed claim form and sent to the administrator (employer or TPA) for payment processing.
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Traditional Claim Processing |
RepayMe Claim Processing |
- The hardcopy claim form is reviewed by the administrator to ensure that it has been filled out correctly. If not, then some exception processing must take place.
- The claim is manually entered into the system.
- Edits must be manually done to check for duplicate claims, valid dates, etc.
- The claims are evaluated.
- The administrator processes and prints rejection notices for those participants with rejected claims. Notices are folded, stuffed, metered (postage cost) and then mailed to the participant. Participants must wait for several days to a week before learning a claim has been rejected.
- Participants with approved claims must wait for payment to determine the status of their claims, or call the administrator!
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- The administrator goes online and enters the claim form number. The form, along with all of the claims, appears. RepayMe also provides the tools for the administrator to enter claims for those participants who do not have Internet access.
- The claims are evaluated.
- RepayMe automatically sends an e-mail to the participant instantly informing them of the status of each claim (no postage costs). If a participant doesn't have e-mail, the administrator can use RepayMe's reporting tool to print rejection notices/letters, or RepayMe can do this for you.
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Traditional Reimbursement Processing |
RepayMe Reimbursement Processing |
- Administrator runs a process to look for participants who are eligible for a reimbursement. (TPAs then need to contact their clients to verify funding for their reimbursements.)
- Administrator runs a process to print checks and create Direct Deposit file (if offered).
- Some software requires running an additional process to print an Explanation of Benefits (EOB) for Direct Deposit reimbursements.
- Checks and EOBs are manually folded, stuffed, metered (postage cost) and then mailed to the participant.
- Administrator transmits the Direct Deposit file for processing.
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- RepayMe automatically creates a Pending Reimbursements file containing eligible participants and e-mails the company notifying them to login and:
a). Approve the Pending Reimbursements for distribution;
b). Download their payroll reimbursement file. (Payroll Interface option).
- RepayMe automatically prints and mails checks and transmits a Direct Deposit file for approved reimbursements.
- RepayMe automatically e-mails an EOB to each participant. If a participant doesn't have e-mail, the administrator can use RepayMe's reporting tool to print the EOB, or RepayMe can do this for you.
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