Why should you consider a dependent eligibility verification audit?

 

Financial benefits

In Mercer’s experience providing dependent eligibility verification services, we have found the average annual incurred medical cost per dependent exceeds $4570 with 3% - 10% dependents removed. 

Fiduciary obligations and ERISA compliance

Most employers have a fiduciary responsibility to ensure that their plans operate according to the terms in the plan documents, including enrollment and eligibility provisions. Eligibility verification procedures can help minimize legal risks. 

Improved communication and accountability

Facilitates a proper understanding of who is eligible under a group health plan. This learning process increases employee accountability for their benefit elections. 

Fewer denied insurance claims

Minimizes concerns about insurers and stop-loss carriers refusing coverage for medical expenses of ineligible dependents.

Fewer tax issues

Identify and minimize exposure for tax reporting violations.

Sarbanes-Oxley compliance

Address implications for financial controls and anti-fraud provisions under Sarbanes-Oxley.

 

 

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Customized communications

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High quality contact center support

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Web-based DEV system

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Strategy based on your needs

Ready to live better, 

work brighter?

Speak with one of our health and benefits consultants.

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