Travis Software Releases TravisCobra Version 7.30, With Enhanced Premium Payment Systems, Disbursement Processes and HIPAA Features
Travis Software Corp., a market leader of Advanced Employee Benefits Software Administration and provider of TravisCobra software, 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.
Houston, TX (PRWEB) July 13, 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.
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Source : http://www.prweb.com/releases/2005/7/prweb261022.htm