Dental and vision
Level estimates your annual benefit usage and provides a transactions budget by employee tier. Invoices can include your budgeted or actual transactions, administrative fees, minimum balance maintenance, and any adjustments.
If applicable to your billing option, we will perform reconciliation periodically and apply the difference (surplus or deficit) on future invoices.
For each Fund, you’ll be required to store a minimum balance in your account. Your minimum balance is calculated based on your total Fund amount, number of employees, and any other relevant factors. Level will send an invoice for your minimum balance before your plan starts.
For example, for a weekly Fund of $20, Level may charge for the entire month (4.5 weeks) up front. For 100 employees, at $20 per week, rounding up to 5 weeks in a month, your invoice would be $10,000. This is considered your minimum balance for this fund, and will need to be maintained through the regular invoicing process. As utilization of the fund approaches the total Fund amount, this minimum balance amount will gradually go down to $0.