Every month our Scheme Accounts team check that the premium received for a scheme is correct based on the accepted rate and the member data for that month.
The member data provided is also used to check whether any members have to submit medical evidence, and this could be as a result of a new member joining the scheme or a member having a salary increase that pushes them above the proof free limit, for example.
Premiums and data are due monthly in arrears and so at the beginning of the month following every month of cover, we will expect to receive these for the scheme. The data must include members’ names, ID or passport numbers, dates of birth, genders, salaries, contact details and category/ies. This can be uploaded via the TSA WebConnect or sent to the responsible Scheme Accounts person, as noted in the acceptance letter.
Cut-offs for premium payments and member data to be submitted is the 07th of every month and our payovers are done on the 25th, at which time the insurers are paid their premiums, brokers their commission and TSA their fees.
An easy reference list of the team contacts can be found here.
Thank you and regards,
The TSA Team