Why You Should Consider having your own Dependent Eligibility Audit Process
How many ineligible dependents are you presently covering on your company benefits plan?
Industry trends reveal that 5-15% of dependents are ineligible for coverage (examples: legally separated or divorced, part-time students, etc.). The average company cost for each dependent can range from $2,400-$3,000/yr (employer cost). Our Dependent Eligibility Verification Process enables your HR department to have the full audit process running on your in-house network, so you are in full control of your employee data and audit decisions. Having this process and software in-house also permits your company to maintain compliance and employee awareness year-after-year as well since they have the full tool set to perform follow-ups. The new-hire and change request process is also revised to require the same documentation as requested in the audit. .
Don't Outsource this Important and Sensitive Task.
If you are already thinking of performing an audit, why outsource this important and sensitive task to an audit firm? This involves much higher expense and you are giving them the keys to make the decisions about your employees. Medical care is a highly sensitive and important issue for your staff. Wouldn't you be the best equipped to make these important decisions? Having your own in-house audit process gives you full control at 1/4 the cost of outsourcing. If you have a TPA, we can also work with them to share the work load or even have them perform the full audit.
Our DEA Process is Flexible to Fit Your HR Staffing Resources
The Dependent Eligibility process lets you define the audit type you want and one that matches your HR staffing resources. Our software will let you divide your audit into smaller groups to allow you to perform one now, and the others later. You can perform the full Amnesty Phase and a 30% random with the rest to follow later. Other options permit you to skip the Amnesty Phase and go directly to the document Verification Phase which cuts the audit time and cost by half. Another option is to combine the Amnesty and Verification Phases into one which increases voluntary disenrollment and shortens the time and cost. The software manages the full audit through auto preparation of "Automated To-Do-Lists" so your staff always has a clear task list of what needs to be done. It tracks all open action items and provides detailed, real-time status reports and more. We offer a free, private executive-level webinar to fit your schedule. Simply register below or contact us to get your questions answered now. We also offer a free Executive Summary which goes into more detail - visit our DEA library and check out a copy. The important thing is to not wait and waste additional benefit dollars. It is best to do something now, rather than nothing. Let us help you save today.
• The DEA is highly automated to adjust to your HR staff availability.
• Why outsource when this should be an internal HR capability?
• Having your own process permits multi-year compliance.
• All your decisions remain behind your closed doors.
• Customize your audit to fit your company culture.
• All your data stays within your company.
Do it all at 1/4th the outsourcing cost .
