Creation and management of accounts for insured persons

A system for managing collecting deductibles of insureds, the system comprising:

• a processor configured to:
• establish a primary account associated with a particular insurance company, wherein the primary account maintains a balance equivalent to a sum of fees incurred by insurance coverage plans sponsored by the particular insurance company;
• receive information associated with a prospective enrollee, wherein the information comprises:
• an election of insurance coverage offered by the particular insurance company;
• an identifier of the prospective enrollee;
• and
• a payment method supplied to cover a cost associated with the election of insurance coverage;
• establish a sub-account associated with the prospective enrollee underneath the primary account, wherein the sub-account is established based on the information received;
• maintain a ledger of the sub-account to reflect a fee incurred by the prospective enrollee during a coverage period;
• cause a payment method associated with the prospective enrollee to be charged for the fee incurred by the prospective enrollee;
• cause the fee incurred by the prospective enrollee to be deposited in the primary account;
• and
• disperse, to the particular insurance company, the balance of the primary account at a pre-determined interval, wherein the balance of the primary account reflects fees incurred under insurance coverage plans sponsored by the particular insurance company.

A method for managing collecting deductibles of insureds, the method comprising:

• establishing a primary account associated with a particular insurance company;
• maintaining a balance in the primary account equivalent to a sum of fees incurred by insurance coverage plans sponsored by the particular insurance company;
• receiving information associated with a prospective enrollee, wherein the information comprises:
• an election of insurance coverage offered by the particular insurance company;
• an identifier of the prospective enrollee;
• and
• a payment method supplied to cover a cost associated with the election of insurance coverage;
• establishing, based on the information received, a sub-account associated with the prospective enrollee underneath the primary account;
• maintaining a ledger of the sub-account to reflect a fee incurred by the prospective enrollee during a coverage period;
• causing a payment method associated with the prospective enrollee to be charged for the fee incurred by the prospective enrollee;
• causing the fee incurred by the prospective enrollee to be deposited in the primary account;
• and
• dispersing, to the particular insurance company, the balance of the primary account at a pre-determined interval, wherein the balance of the primary account reflects fees incurred under insurance coverage plans sponsored by the particular insurance company.