Deduction Remittance Overview

Overview — Deduction Management and Remittance

1. Deduction Notification Report - format and method: The Deduction Notification Report is provided to the employer group to start deductions after enrollments. The report can be provided in an Excel/CSV spreadsheet or a text file, whichever is easiest for the employer. The report can be sent from our offices via US Mail, regular email (password protected), or it can retrieved from our secure FTP Site (file encrypted if desired).
   
   
2. Deduction changes: changes may occur if an employee calls the Policyholder Call Center to make a change. If changes should occur through the call center, we will notify the Employer Payroll Administration area of the deduction change (same method and formats as #1 above).
   
   
3. There is no need for lengthy reconciliation of premiums billed to premiums deducted. Reconciliation will be done by our offices provided Employer forwards a simple Remittance Report to our offices with premium. We will manage premium monies for all employees based on information from the employer Remittance Reporting. The employer's Remittance Report will provide our offices with information to apply premiums to employee's policies quickly and efficiently, therefore, the employees policy records will be up to date and any employee inquiry can be answered (and/or resolved) quickly and easily.
   
   
4. Remittance Reporting: format and method: The Remittance Report can be provided in an Excel/CSV spreadsheet or a text file, whichever is easiest for the employer. The report can be sent to our offices via US Mail, regular email, or it can be posted to our secure FTP Site.

SAMPLE DEDUCTION REPORTING - DATA SENT TO EMPLOYER TO START DEDUCTIONS AND CHANGE DEDUCTIONS:
Market Code/Acct # WLL=MURRIETTA WLM=IRVINE	Last Name	First Name	SSN	Deduct Code (if more than one product)	Deduction Amount	Date Premium Due
WLL	Doe	Jane	XXXXX	UL	10	5/3/06
WLL	Doe	Jane	XXXXX	CI	10	5/3/06
WLL	Smith	John	XXXXX	UL	11	5/3/06
WLL	Smith	Anthony	XXXXX	CI	6	5/3/06
WLM	Pratt	Harry	XXXXX	UL	2.5	5/3/06
WLM	Price	Lind	XXXXX	TRM	5.5	5/3/06
WLM	Joe	Lisa	XXXXX	UL	3	5/3/06

Information Required in Remittance Excel Spreadsheet:

1. Vision Financial's market code.
2. Please enter Last Name comma First Name in one field.
3. Employee's payroll ID # or SSN.
4. Deduction code if more than one product.
5. Premium Amount Remitted.
6. Grand Total.
7. Date Premium Due

1. 2 decimal places for premium field.
2. Employment status Codes: "T" = Terminate OR "LOA" = Leave of Absence
3. Employment Status Effective Date (Mo/day/year)