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Dependent Eligibility Audits
Continually rising health care costs put a strain on every budget. Each year, employers have little choice but to raise medical plan copays, deductibles, coinsurance limits and employee coverage contributions to help dampen the impact of higher costs. Beyond asking employees to pay more for health coverage and care, what can companies do? It's clearer than ever that a Dependent Eligibility Audit can make a real—and immediate—difference.
Dependent Eligibility Audits are a proven way to help organizations realize substantial savings. Our experience shows that 8% - 12% of the dependents on your rolls should not be there—they simply do not meet your plans' eligibility criteria. Remove ineligible dependents and you can realize first-year savings of $1,000,000 or more (conservatively assuming $3,500 average dependent cost with 3,400 enrolled dependents). Use our savings calculator to estimate how much your company can save.
Our administration technology platform and client support model offer a flexible, complete Eligibility Audit administration and communications solution. Below is an overview of our Audit process.
We'll spend time with you at the project's start to discuss and determine the Audit approach that's right for your organization, and determine the details of your Eligibility Audit. For more information, contact Dean Hatfield, Senior Vice President, Sibson Consulting: dhatfield@sibson.com.