What are Auto-Premium Reimbursements? How do I enroll?

Auto Reimbursements makes life easier for admins and ensures that employees get their health benefit dollars (premium reimbursements) deposited into their bank account around the first business day of each month, like clockwork. Just a few simple enrollment steps and voila!

How does enrollment work?

Signing up is a breeze! 

• Log in to the Benefits Portal and click "Auto Reimbursement" in the left-side menu. (#1 in image below.) 

For admins that are also employees, make sure you’re in the employee view.

• Click “auto-reimbursement” in the right corner (#2)
• Upload your proof of coverage (such as an invoice) and confirm two things (#3): 
  • 1) You're enrolled in a 12-month qualifying health insurance plan and are not accepting premium tax credits, and 
  • 2) If you switch or cancel your health plan you’ll contact StretchDollar at support@stretchdollar.com. 

Note: Funds are drawn from the business bank account on the 25th of the month for distributions around 1st. If you enroll on the 25th or later, your auto-reimbursements will start on the 1st of the second following month. For example, if you enroll on Feb 26, you'll need to submit a one-time reimbursement for March, as your auto-reimbursements will start around the first business day around April 1. 

Your admin will receive an email alert to review the enrollment application. Once approved, just kick back and relax knowing your premium benefit dollars will be deposited into your bank account the first business day of each month.