HMO Billing to Clients
HMO Billing to Clients
HMO is a private organization that provides health insurance to employees and cooperates with health care providers such as hospitals, clinics, doctors, etc.
This benefit is usually given to the staff upon his/her start date or after the probationary period of 6 months, whichever the client may deem necessary.
Employees also have the option to have an HMO Dependent wherein the costs which can either be covered by the staff or may be shouldered by the client as part of the additional benefits they are willing to provide for their staffs.
HMO Billing is based on the actual semi-annual costs provided by our HMO provider. Total semi-annual costs for both employee and dependent HMO are then pro-rated monthly into the client’s invoices. These, you will find under separate columns in your monthly invoice database and is part of the total staff cost we charge.
Example
|
HMO PLAN |
BENEFICIARY |
HMO COST |
MONTHLY COST |
|
SEMI-ANNUAL PREMIUM |
PRINCIPAL |
8,636.34 |
1,439.39 |
|
REGULAR DEPENDENT |
15,763.20 |
2,627.20 |
|
|
EXTENDED DEPENDENT |
20,018.70 |
3,333.45 |
Since the costs we incur, e.g., HMO, are in a currency different to yours, these are converted at the billing exchange rate from xe.com, adjusted by one point on the exchange rate to cover exchange rate fluctuation risk.
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