In 2008, Piedmont Payment Services was founded by Tim Johnson, an agent for a health insurance company. One day, one of his clients was bought out by another company, and he discovered that the change in payroll policy was going to lose him a lot of business. If this trend continued, he would end up losing a significant portion of his income and most of his clientele. Finding and providing a solution to this problem is the sole purpose of Piedmont Payment Services.
Today, Piedmont Payment Services has two main ways by which they collect insurance premiums when the payroll deduction service is not offered by an employer to its employees. The first way they collect the health insurance premiums is through the use of a simple Electronic Funds Transfer. The second way that Piedmont collects these insurance premiums is through the direct deposit method.
An Electronic Funds Transfer involves a monthly transfer of funds designed to mimic the results of a payroll deduction service from the perspective of the client. Normally, once a month you are billed via bank draft, credit card, or debit card by the insurance provider in order to pay the insurance premiums. Piedmont Payment Services ensures that this Electronic Funds Transfer takes place only after the clients paycheck was deposited, and then transfers the funds on again to the insurance provider when necessary. As a result, the Piedmont clients never have to deal with the insurance company themselves, we do it for them.
The direct deposit method utilized by Piedmont Payment Services is even simpler in execution than the Electronic Funds Transfer method. The client receiving their paycheck through the use of a direct deposit normally receives the full amount deposited directly into their bank account. With Piedmont Payment Services however, the insurance premium is deducted from the paycheck before it reaches the bank account, and we pay the insurance provider instead of the client. This prevents you from ever having to deal with the excessive bureaucracy and insufficient customer service that characterizes the insurance industry as a whole.
Piedmont Pays – Website: https://piedmontpays.com/apps/home/