Enforce The Rules!
Do you know how many ineligible dependents your company is
covering on its health plan(s)? At HRAdvance, our results are proving consistent with some of the large published outcomes, which indicate 5% to 15% of employees have ineligible dependents enrolled on corporate health plan(s). This type of exposure can represent a Sarbanes Oxley risk to public companies and a personal liability exposure to the Plan Fiduciary under ERISA and the Exclusive Benefit Rule.
A dependent eligibility audit and verification provides a compelling economic story and helps employers with fiscal and fiduciary responsibility.
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Sarbanes-Oxley Compliance Issues
Public companies must have financial controls in place. Failure to implement effective controls that prevent enrollment of ineligible dependents can be a Sarbanes-Oxley exposure. |
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Exclusive Benefit Rule for Fiduciaries
Health plan dollars must be used for eligible expenses. The primary responsibility of fiduciaries is to run the plan solely in the interest of participants and eligible beneficiaries and for the exclusive purpose of providing benefits and paying plan expenses for those eligible individuals. There can be personal liability issues for a benefit's supervisor who knowingly pays claims for ineligible dependents. |
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Plan-Smart leverages leading-edge technology to provide a turnkey solution to the cumbersome task of auditing and verifying dependent eligibility. Our teams of seasoned benefit professionals are focused on the development of highly refined solutions that meet your company’s needs and culture. We are experienced, committed to customer service and guarantee our performance and results.
HRAdvance Advantages
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Dependent Eligibility Audits
Our core competency: unbiased and independent audit reviews |
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Web Based Management Tool
Proprietary, web-based utility to monitor audit 24/7, web portal for employees, custom reporting, our process ensures consistent and objective assessments, we do not use spreadsheets to manually audit our client’s eligibility |
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Complete Associate/Employee Support
Inbound/outbound call center, bilingual capabilities, on-line employee FAQ, and employee web portal |
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Comprehensive Audit and Verification
No surveys or questionnaires - these tools do not provide verification |
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Rules Based Objectivity
SPD drives the provisions of the audit and required verification document |
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Performance Standards and Guarantees
We guarantee 100% audit accuracy for every customer |
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HRAdvance can assist in managing your companies escalating health care costs IMMEDIATELY! There is no charge to review your current plan participation and expenditures to see if a dependent eligibility audit is right for your company. See for yourself with Plan-Smart's ROI Calculator how much you may be spending to cover ineligible dependents.
Contact Brennan Clipp for more information and a customized cost and savings analysis based on your company’s information.
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