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Premium Billing Specialist
2 months ago
At CVS Health, we are committed to enhancing health care through a human-centric approach. Our mission is to ensure that every interaction reflects our dedication to personal, convenient, and affordable health solutions.
Position Overview
As a Billing Premium Consultant, you will be responsible for delivering precise billing statements to Plan Sponsors and ensuring timely issuance of ID cards and audit certification lists. Your role is crucial in improving financial outcomes by minimizing losses related to non-payment and ensuring that reconciled funds are accurately allocated across various benefits and structures.
Key Responsibilities
- Review and compare member listings and payments from Plan Sponsors to actual billing statements to identify and rectify discrepancies.
- Monitor and resolve outstanding premium collections and revenue adjustments, communicating effectively with customers and internal teams.
- Ensure all manual adjustments, refunds, and write-offs comply with established policy guidelines.
- Validate and update revenue forecasting information and trends for self-insured clients.
- Coordinate eligibility validation for both fully insured and self-insured customers.
- Apply relevant policies, legislation, and account structures to decision-making processes.
- Accurately post remittances across various benefits and reconcile customer payments.
- Identify overdue accounts and manage the collection and cancellation processes in line with market segment protocols.
- Address eligibility and billing inquiries from Plan Sponsors and other stakeholders.
Qualifications
Required:
- Minimum of 1 year of experience in financial reporting.
- Strong analytical skills to interpret financial data.
Preferred:
- Financial experience is advantageous.
- Ability to prioritize tasks and work efficiently.
- Excellent verbal and written communication skills.
- Strong organizational abilities.
- Proficiency in math and accounting principles.
- Effective problem-solving skills with attention to detail.
Education
- High School Diploma required.
Compensation
The typical pay range for this position is $29.88 per hour. This range reflects the base hourly rate for all roles within this job grade. Actual compensation will be determined based on various factors including experience, education, and geographic location.
In addition to competitive pay, CVS Health offers a comprehensive benefits package, including medical, dental, and vision coverage, a 401(k) retirement savings plan, and an Employee Stock Purchase Plan. Eligible employees receive fully-paid term life insurance, short-term and long-term disability benefits, and access to numerous well-being programs. Paid Time Off (PTO) and paid holidays are also provided in accordance with company policies and state laws.