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Dependents are responsible for over 70% of most company’s health care costs, but on average, 4-8% of those dependents are ineligible for coverage and cost employers a FORTUNE annually. Not only do these ineligible dependents cost individual companies anywhere from tens of thousands ten of millions of dollars annually, they also compromise the compliance integrity of the health plan offered by an employer.
Regardless of what happens in Washington D.C., the cost of providing benefits to employees continues to grow, and Health Care Reform has not diminished the level of fraud in dependent coverage. In fact, recent research shows that due to a persistently poor economy and general confusion in benefit eligibility, the rate of ineligible dependents has increased from 5.8% to 7.99% of total dependents. A comprehensive audit will remove those ineligible dependents, educate employees on the value of their benefits plans, strengthen the compliance of a company’s benefits offering, and save employers incredible sums of dollars.
This webinar explores what an employer has to gain or lose by conducting a Dependent Eligibility Audit, and will reveal the keys to successful execution of an audit without inciting employee riots or burying your HR Department in paperwork. Attendees to this webinar will learn what fraud in a benefits plan looks like, how prevalent fraud really is, and what type of savings they can generate for their company with an audit. They will learn what to consider before launching an audit, including what types of audits are most common and the pros and cons of doing in-house versus outsourcing. Topics will also include employee engagement and penalty strategies, timing of an audit, ROI expectations and more.
Who Should Participate
CFOs, Controllers, VP HRs, Benefits Managers. Any member of an organization responsible for its profitabilty, compliance or benefits costs.
Extra Learning Material
All Registered HR.com members are also eligible for:
SHRM, PIHRA, EBA have all published numerous articles on the benefits of conducting Dependent Audits.
Human Resources Management
Consumer-Directed Healthcare (CDH)
Healthcare Legislation and Compliance
Benefits - Cost Containment, Audits and Legal Risks
What You Will Learn
Participants will learn:
Who is Eligible
This webcast is available to all registered HR.com members for free. You are currently subscribed to HR.com as a Free Member.
Click the button to access this webcast. Archives, MP3 and PowerPoint slides
What is Required to Attend
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