Dependent Verification: Cover Those Who Should Be Covered
Let’s face it: Many companies are paying to cover benefits for employees’ dependents who are probably ineligible for coverage. But dependent verification can be a time-consuming process. Not to mention, dependent verification audits are a task no one really enjoys — not HR and not your employees. Dependent eligibility verification can cause stress among employees who may think you don’t trust them, leading to disengagement and all of its consequences.
Despite all of that, you know how important dependent eligibility verification is — and how important it is to get it right. You know your company’s bottom line depends on it.
Studies show that companies can save 3 to 8 percent, on average, on their health insurance costs by identifying and dropping ineligible participants through quality dependent verification audits. In addition to the immediate costs savings when you no longer pay the company’s share of premiums for ineligible dependents:
- Your future claims costs are reduced
- You get a clearer picture of your plan costs going forward
That’s why dependent-verification audits make sense as a part of a fully featured suite of benefits management services. That’s also why Businessolver is so good at it, and why you can trust us to help you get it right.
We offer several levels of dependent eligibility services, including separate processes for one-time audits, initial dependent auditing, and ongoing auditing. All of our verification processes start with detailed conversations with you about your goals and how we can achieve them together.
Dependent Verification Services include:
- Creating parameters for the audit
- Developing communication materials and timelines
- Defining pending procedures
- Receiving, confirming, and storing documentation
- Removing ineligible dependents from the system, following procedures and timelines established by your administrators
Make sure you are covering only those who are meant to be covered. Ensure the eligibility of plan dependents through our dependent verification audits and ongoing dependent verification services.