Adding a new employer client to benefitbay®
We want to help you grow your ICHRA book of business! First, add your current clients and potential clients to your agency profile in benefitbay. Then, use the benefitbay modeling tool to see if ICHRA is a good fit!
Login to benefitbay and navigate to the "Employers" tab. Select the blue "Add Employer" button in the top right corner.
Add the following information:
- Primary agent (this will auto-fill to yourself), you can chose a different active agent from your agency from the drop-down list
- Assigned Agents/Account Managers (these will be other agents/ account managers in your agency that should have access to the company)
- Legal Business Name for the Employer
- Doing Business As (DBA) Name for the Employer
- If there is no DBA name, leave it blank
- Payroll Frequency
- Monthly
- Semi-Monthly (twice a month)
- Bi-Weekly (every other week)
- Weekly
For any employer with multiple payroll frequencies, we encourage you to select monthly. The employer will have to calculate the payroll report for current employee deductions based on the employee's pay frequency.
Upon completion, click the blue "Save changes" button at the bottom of the screen.
New Enrollment Period
You will notice the left navigation bar has expanded to show the employer information. Now it is time to add the enrollment information:
Now it is time to add the enrollment information:
- Name of the Enrollment Period
- We recommended using the month and year
- Type
- This will default to Open Enrollment for a new Employer
- Future enrollments for the year (for new employees and qualifying life events (QLEs) will be "special enrollment"
- This will default to Open Enrollment for a new Employer
- Enrollment start date
- We encourage using the first of the month before the effective date of the coverage
- Enrollment end date
- Please use the 12th of the month before the effective date of the coverage.
The 12th of the month is used because several carriers have strict cut-off dates to accept applications. We want to ensure your client's employees get the effective date of coverage they apply for.
- Coverage start date
- Agent PEPM (per employee per month)
- This is the amount your agency will receive for a consulting fee. It applies to actively enrolled employees for the month.
- Agent Minimum PEPM
- This amount overrides the monthly PEPM for smaller groups
- For example, if the agent PEPM is $25 and the minimum is $200 and only five employees enroll, the monthly agent PEPM billed to the client will be $200 instead of $125.
- This amount overrides the monthly PEPM for smaller groups
For your convenience, the benefitbay PEPM and minimum are auto-filled.
- Upon completion, click the blue "Save changes" button at the bottom of the screen
Congrats! You are now on your way to see if your client is a good fit for ICHRA!
For every employer group that you want to talk to about ICHRA, we recommend that you add them to benefitbay. You should start them as a lead. Once you upload a census (either the Go/No Go or Final), you should move their status to Prospect.