The V3 System: Software for Pension Administration
The V3 System Delivers:
- Administrative Flexibility
- Improved Customer Service
- Extreme Scalability
- Accurate and Timely Data
- Self-Service Alternatives
- Quality Correspondence
- Operational Transparency
- Value Added Reporting
The V3 System's powerful Taft-Hartley benefit administration features include:
Demographics
- Multiple ID Numbers per Participant
- No Need to Process via SSN
- Masked SSN’s
- Multiple Addresses
- Address Standardization
- CASS Address Verification
- Unlimited Dependents
- Unlimited Beneficiaries
- Detailed Audit Histories
Employer Reporting
- Employer Reporting
- Employer-Location Reporting
- Job Classes
- Job Categories
- Limitless combination of reported attributes
- File Based Reporting
- Paper Based Reporting
- Self-Service Reporting
- Configurable Validations
- Reporting of Wage Data
- Reporting of Work Data
- Reporting of Custom Data
- Variable Reporting Periods
- Variable Reporting Formats
- Retro Adjustments
Contributions Accounting
- Contract and Rate Maintenance
- Individual or Group Contracts
- Reported Contributions
- Calculated Contributions
- Validated Contributions
- Contributions for any number of funds/benefits
- Retro Rate Changes
- Prior Period Rebills
- Discrepancy Billing
- Credit Notices
- Complete AR Management
Loans Processing
- Configurable Loan Types
- Ability to handle multiple active purchases for a participant
- Loan Eligibility Determination
- Application Processing
Pension Calculations
- Highly Configurable Plan Rules
- Ability to Handle any number of Plans
- Definable Pension Types per Plan
- Definable Pension Options per Type
- Regular, Early, Disability, Death, Etc.
- Single Sum, Straight life, 10 year Certain, Etc.
- Return to work processing
- Custom Years of Service Calculations
- Base Benefit Calculation
- Factor Based Reductions
- Option Calculations
- DROP Processing
- Security controlled overrides
Health Claims Adjudication
- Configurable formulas and rules
- Auto-adjudication matrix
- Deductible, out-of-pocket and type-of-service limits
- Definable calendar periods
- Dollar, visit and unit maximums
- On-demand accumulator calculations
- Coordination with Other Insurers and Medicare
- Rule segregation for multi-group administration
- Network coverage area configuration
Health Claims Processing
- Integrated workflow processing
- Disbursement, overpayment and lien tracking
- Auto-recoupment
- Pre-authorization and penalty enforcement
- Duplicate checking
- Modifier reductions
- HRA banks and reimbursement
- COB Savings banks
- Beneficiary payments and alternate payees
- Calculation logs
- Medical and hospital claim processing
- Anesthesia calculations
- Dental claims and Disability claims
- MA / NY state surcharge calculations
Pension Processing
- Estimate Generation
- Final Pension Generation
- All options on a single estimate
- History of every estimate generated
- “What if” Calculations
- QDRO Administration
- Workflow-based processing
- Detailed Activity Log
Ancillary Benefits Processing
- Application Processing
- Forms Management
- Required Document Tracking
- Beneficiary Administration
- QDRO Administration
- Workflow-based processing
- Detailed Activity Log
Reporting and Integration
- End User Reporting
- Ad Hoc Reporting
- Tax Reporting
- HIPAA Processing
- Actuarial Reporting
- General Ledger Integration
- Import and Export Processing
Disbursements
- Benefit Disbursements
- Roll over processing
- Periodic or On Demand Check Processing
- Checks, EFTs and Direct Deposit
- Split payment to multiple accounts
- Support for Feeds to Third Party Payers
- Liens and Levies
- Recoupments
- Voids and Re-issues
- On Screen Check Images
- Multi-Step, High Security Processing
