Travis Software Releases TravisCobra Version 7.30, With Enhanced Premium Payment Systems and Disbursement Processes
13 July 2005
Travis Software Corp. Travis Software Corp., a market leader of Advanced Employee Benefits Software Administration and provider of TravisCobra software TravisCobra, announced today the availability of TravisCobra Release 7.30, with several enhanced features for premium payments, HIPAA certification, USERRA requirements, disbursement and reimbursement processes and more.
With this new and improved version, TravisCobra premium payments will be able to be drafted from the Qualified Beneficiary's (PQB) bank account using the national Automated Clearing House (ACH) banking system. "Processing premium payments with ACH electronic transactions are a natural evolution in the automation process of Cobra Administration,” says Alan H. Williams, founder and President of Travis Software Corp. “Our users are excited about the cost savings, conservatively estimated by the Federal Reserve at $1.62 per payment.”
The TravisCert system is going to be brought into and made a part of TravisCobra. TravisCert, available as a separate system since 1997, was designed to print “HIPAA Certificates only.” With Release 7.3, the user will be able to enter people who don't need printed COBRA Election Notices, but do need HIPAA Certificate of Continuation Coverage.
A new qualifying event has been added for The Uniformed Services Employment and Reemployment Rights Act (USERRA). “Allowing TravisCobra to be used for administering continuation because of loss of coverage due to military service seems a natural addition of our system, and we've programmed the USERRA requirements into our system,” adds Williams.
Multiple Coverage Termination Options will be allowed for each employer on a plan by plan basis. So if an employer has some plans that terminate coverage on Event Date and others than have termination at the End of the Month, the system will pro-rate the first month's premium on the Event Date plans and not do so on the EOM plans.
The “Disbursement” and “Reimbursement” processes in the system also received a major upgrade. As defined, premiums are “disbursed” to either the employer or carrier (as opposed to “reimbursed” to the PQB in the case of an overpayment). TravisCobra TravisCobra Release 7.3 optimizes the way it accounts for premiums if a rate change occurs after premiums have been disbursed to the employer or carrier(s). Also added is an Automatic Reimbursement Process that will reimburse premiums to PQBs (and print the checks, if desired) who terminate coverage prior to periods for which they have paid. The system will also adjust future amounts paid to the employer or carrier for those reimbursements.
Posting of “Non-Cash” payments have been added to the system. Premium payments that need to be posted but that a user did not receive in cash can be posted to extend COBRA eligibility, but won’t be added to the money amounts shown in the system reports.
About Travis Software
Travis Software Corp. Travis Software Corp. was founded in June 1986, shortly after the enactment of the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) which mandated group health continuation for the first time and created the market opportunity for the Company's first product, the DOS-based TravisCobra software system. Travis is based in Houston, Texas and has over 2,000 employers and administrators using its COBRA, Flexible Benefit and Premium Billing systems. The Company has been solidly profitable each year since its founding in 1986.
For more information about TravisCobra Release 7.3, or any other products that Travis Software provides, please contact Travis Marketing at (281) 496-3737, email Travis Software at e-mail protected from spam bots or visit Travis Software at www.travisoft.com.
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: www.HRmarketer.com) on behalf of the company listed above.
Source: PR Web
All trademarks and copyrighted information contained herein are the property of their respective owners.
Related Articles
|
