Your employees can choose how they would like their monthly premiums to be paid.
The default option is Venteur's PremiumPay program. Venteur will pay their premiums and invoice your company for the total amount. If an employee's premiums exceed your ICHRA contribution, we will work with you to automatically deduct the balance from the employee's paycheck. Venteur actively monitors the account of all employees that opt into PremiumPay to make sure no payment is missed.
Alternatively, your employees can elect the SelfPay option, pay for their premiums themselves, and request reimbursement from Venteur. Reimbursement takes place 3 business days after the reimbursement request has been made. If employees select SelfPay, they are responsible for monitoring their health insurance account to make sure it stays current.