Aetna recently announced that ACH Debit will be the standard method for premium payments for new ACA Small Group business beginning with August 1, 2019 effective dates.
With the ACH Debit Withdrawal, Aetna small group clients will benefit from having regularly scheduled payments based on the membership at the time the invoice is produced each month. The customer will have the flexibility to select from one of the following payment cycles:
- Due date: 1st or 15th of the month based on the group's effective date
- Any day between the 2nd through 28th of the month
- The last banking day of the month
- Other payment options available upon request
Small businesses are increasingly looking for ways to eliminate time-consuming methods of conducting business. ACH Debit saves time and provides confidence their employee benefits are up-to-date.
Here are some of the benefits for the customer:
- Regularly scheduled payments
- Customer cash flow is expected, payment is the same date every month
- No need to write a check or mail payment
- Removes mail time and possible loss of payment or delay from postal delivery
- Eliminates potential collection actions
A copy of the ACA Banking Consent Form which will allow monthly ACH Debit withdrawal is available on the B&P website and below:
For questions, please contact a member of your B&P Sales Team – 888.722.3373.