Most employers have already increased employee contributions for benefits and changed their benefit structure in terms of higher deductibles and co-pays. What more can you do to decrease the cost? A dependent eligibility audit is one answer.
Unless you have been diligent about requiring proof, you may be paying claims for ineligible dependents. Typically, 4-8% of dependents in employer-sponsored health plans do not meet the plan’s eligibility definitions.8 These could be ex-spouses left on the program, individuals who were never spouses in the first place, step-children following the divorce of natural parents, grandchildren, nieces, nephews, and others. Conducting a dependent eligibility audit could help see a potential savings of 10% or more from your benefit plan dependent costs.9
EOI will work with you to develop and implement a dependent eligibility audit that will reduce or eliminate claims for ineligible dependents.