Paylogix – Innovative premium technology solution provider known for efficiency and transparency in the administration of voluntary benefits
The Silicon Review
The company provides end-to-end technology solutions, from enrollment through billing and premium payment, for benefit providers, brokers, and employers.
Founded in 1995, Paylogix, a third-party administrator, has developed many influential technologies for the voluntary benefits industry. Launched as an online, cloud-based system for billing and premium payment, we partner with the largest brokers and numerous benefit providers in the United States. Paylogix created Consolidated Billing® and Common Remitter® Services, the industry standard in billing and premium payment. These innovative solutions streamline data from multiple sources and simplify the billing and remittance process for providers, brokers, and employers.
Today, Paylogix’ mission remains the same: to advance technology solutions that make voluntary benefits administration simpler and more secure, while delivering a better user experience.
Paylogix is headquartered in Westbury, New York.
Exploring Paylogix solutions
Paylogix has established a reputation as an InsurTech pioneer and innovator, thanks to its robust suite of intuitive technology solutions.
Pro-Enroll®: Paylogix proprietary enrollment platform with an intuitive design standardizes and simplifies the communication, education, and enrollment of insurance benefits with a user-focused approach.
Premium Billing and Payment solutions
Consolidated Billing® and Common Remitter®: The industry standard in billing and premium payment. Moved the worksite benefits community from a paper-based system to a technology driven electronic platform. Multiple products from multiple benefit providers are invoiced and paid in one online bill.
Proactive Reconciliation: Paylogix reconciles payments to the penny.
Single Slot Administration: This process minimizes the payroll slots needed for benefit deductions. Paylogix can consolidate benefit deductions for several products into a single deduction code and a single deduction total for each employee.
Premium Conservation/Catch-up: Custom solutions for employees who have missed payroll deductions and need to pay what they owe. Employee maintains coverage and the average life of a policy is increased.
Policy Certificate/Conservation: Transparent process which extends the life of the benefit policy when the employee is no longer part of the organization. Policy holders retain coverage and benefit providers capture more revenue.
More from the Paylogix Portfolio of Services
Alternative Funding: Individual bank draft (ACH), credit/debit cards, and direct deposit when payroll deduction is not an option.
Merchant Gateway: Allows a technology partner to securely capture ACH and credit card payment information from participants at the time of enrollment, providing a seamless and streamlined process for all involved.
Tailored Market Solutions: Efficient and effective enrollment, billing, and payment solutions ideal for groups of all sizes.
Software as a Service (SaaS): Paylogix’ enrollment and billing software on a subscription basis.
Benefits Administration: From enrollment through payment, Paylogix offers end-to-end solutions.
Co-Op Funding Program: Paylogix enhanced solutions at no cost to broker or employer by providing access to products from our benefits providers (subject to approval of benefit provider).
Collaboration | Success Stories
Here are two examples of how Paylogix premium technology solutions work for our partners: benefit providers, brokers, and employers.
Challenge: Payroll deduction is not available, and an enrollment company needs to collect ACH and credit card payment data from participants at the time of enrollment and get this information to the billing company while remaining PCI compliant.
Solution: Merchant gateway allows a technology partner to securely capture ACH and credit card payment information from participants at the time of enrollment, providing a seamless and streamlined process for all involved. Integrated partners have seen success rates of over 97% in capturing payment data at the time of enrollment before Paylogix.
“Merchant gateway is scalable, easy to integrate, and PCI compliant. We have already integrated with 10 technology partners, reaching 7,000+ employer organizations and 300,000+ participants. The average implementation time ranges from seven to 30 days, so you can start seeing results quickly.”
One small step at the time of enrollment can have a significant impact on the long-term success of your account. Accurately and securely capturing a payment method at the time of enrollment significantly improves the success of future policyholder payments.
Challenge: Employees who enroll in voluntary benefit products fall behind in their premium payments due to inconsistent work hours, unpaid leave of absence, or other issues. This can end the life of the policy and cause losses for the benefit provider, broker, enrollment firm, and most importantly, loss of coverage for the insured.
Solution: With Paylogix Premium Conservation we identify employees who fall behind in their premium payments and notify them of their option to pay their missed premium. This solution includes a secure pay portal, a fully automated process, and the flexibility to make payments via ACH bank draft, payroll deduction or credit/debit cards.
Paylogix provides this service to Fortune 50 companies, unions, and other employers. This solution enables direct employee notifications and the premium conservation process is fully automated.
The results: 1) recovered premiums from over 22,000 people, 2) maintained over 175,000 policies, and 3) collected over $13 million in catch-up premium payments.
Richard Pfadenhauer, CISSP | President & Founder
Richard Pfadenhauer, CISSP, is the president and founder of Paylogix. With more than 30 years of professional experience, Richard is known throughout the voluntary benefits industry for his pioneering work in the development of technology solutions.
Richard’s vision continues today as Paylogix’ technology solutions simplify the exchange of data, knowledge, and money while enhancing the user experience. Indeed his commitment and dedication to delivering cutting-edge technology has helped to shape the voluntary benefits industry.
Richard is a forward-thinking CEO, intentionally surrounding himself with colleagues who are the best and the brightest in the industry. He’s passionate about his work, empowering employees, and providing a high level of customer service to clients. Richard is the recipient of numerous industry honors and awards, including his induction into the Workplace Benefits Association Hall of Fame in 2018. He’s dedicated to both his local and virtual communities, chairs various projects and continues to mentor and serve on boards both locally and nationally.