Common use of Premium Payment Processing and Services Clause in Contracts

Premium Payment Processing and Services. ‌ 1. Benefitfocus will collect valid and timely premium payments (including any administrative charges and/or convenience fees) from or on behalf of COBRA Continuants, employing postmark date aware, “lock-box” payment processing services for paper payments made by mail, online payment processing made through the COBRA Application by credit/debit card or ACH, and recurring ACH payment initiation and processing. 2. Benefitfocus will, for the purpose of collecting premium payments made by paper documents and sent by mail to the Benefitfocus-assigned post office box (P.O. Box) on all Business Days, receive mail from the post office box, collect paper checks, remittance coupons, correspondence, or other paper documents, and scan or otherwise convert such paper documents into electronic formats for the purpose of tracking and posting payments.‌ 3. Client hereby grants Benefitfocus agency authority to accept, endorse and deposit checks or money orders in Client’s name on behalf of Client, and for the purpose of collecting premium payments made through the COBRA Application by credit card or ACH debits of the bank accounts of COBRA Continuants. 4. Benefitfocus will charge an additional online processing fee to credit/debit card payment methods, to the extent permitted by law and the applicable credit card operating rules and regulations. This fee will be payable by COBRA Continuant.‌ 5. Benefitfocus will initiate scheduled monthly ACH transactions for those COBRA Continuants who request automated payment collection through the COBRA Application Member Portal or via form. 6. Benefitfocus will deposit all valid and timely payments received into one (1) designated bank account “For the Benefit of” Client. 7. Benefitfocus will remit to Client or vendors the COBRA premium payments paid by COBRA Continuants, less administrative fees, on a monthly basis via deposit into a single checking account. Additional bank account setup requires further scoping and pricing and an additional writing signed by the parties. 8. Benefitfocus shall consider a payment timely if it is delivered to the designated P.O. Box, postmarked by the U.S. Postal Service, sent by express delivery service (with evidence thereof), or made through the COBRA Application, within timeframes for timely payments defined within the COBRA Application.‌

Premium Payment Processing and Services. ‌ 1. Benefitfocus will collect valid and timely premium payments (including any administrative charges and/or convenience fees) from or on behalf of COBRA Continuants, employing postmark date aware, “lock-box” payment processing services for paper payments made by mail, online payment processing made through the COBRA Application by credit/debit card or ACH, and recurring ACH payment initiation and processing. 2. Benefitfocus will, for the purpose of collecting premium payments made by paper documents and sent by mail to the Benefitfocus-assigned post office box officebox (P.O. Box) on all Business Days, receive mail from the post office box, collect paper checks, remittance coupons, correspondence, or other paper documents, and scan or otherwise convert such paper documents into electronic formats for the purpose of tracking and posting payments.‌payments. 3. Client hereby grants Benefitfocus agency authority to accept, endorse and deposit checks or money orders in Client’s name on behalf of Client, and for the purpose of collecting premium payments made through the COBRA Application by credit card or ACH debits of the bank accounts of COBRA Continuants. 4. Benefitfocus will charge an additional online processing fee to credit/debit card payment methods, to the extent permitted by law and the applicable credit card operating rules and regulations. This fee will be payable by COBRA Continuant.‌Continuant. 5. Benefitfocus will initiate scheduled monthly ACH transactions for those COBRA Continuants who request automated payment collection through the COBRA Application Member Portal or via form. 6. Benefitfocus will deposit all valid and timely payments received into one (1) designated bank account “For the Benefit of” Client. 7. Benefitfocus will remit to Client or vendors the COBRA premium payments paid by COBRA Continuants, less administrative fees, on a monthly basis via deposit into a single checking account. Additional bank account setup requires further scoping and pricing and an additional writing signed by the parties. 8. Benefitfocus shall consider a payment timely if it is delivered to the designated P.O. Box, postmarked by the U.S. Postal Service, sent by express delivery service (with evidence thereof), or made through the COBRA Application, within timeframes for timely payments defined within the COBRA Application.‌Application.