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PLAN-SMART ROI CALCULATOR What is the cost-savings potential from auditing your dependents? Did you know the average audit returns more than 600% ROI; which literally translates to hundreds of thousands of dollars in savings per year? Check out your potential cost savings here. An employer with 2,000 employees enrolling an average of two dependents per employee that finds only 5% ineligible (the average is over 10%) will have savings that exceed $240,000 annually by simply identifying and removing ineligible dependents from its health plan.
1. Reduce expenses on your Medical Plan without changing the plan design or employee contributions. Compelling economics: typical results indicate 10% ineligible dependents are enrolled on employer health plans which translates to hundreds of thousands of dollars per year in cost savings. 2. Fiduciary responsibility to stakeholders and plan participants
3. Effective employee communication builds the value and perception of your company benefit plans being provided to employees. Plus, improved employee awareness helps set the tone from the top that company provided healthcare is a privilege, not an entitlement and fraud is not tolerated.
For more information, educational resources, sample RFP, comparative service grid, please contact sales at 214.965.5809 or E-mail. |
First Step in Reducing Health Plan Costs: Everyone acknowledges that greater personal financial responsibility is integral to containing the cost of health care. When ineligible dependents are left on employer health plans, as opposed to being shifted to appropriate alternatives (i.e. Government Assistance or individual insurance coverage), we are contributing to the national health care crisis. “We have made cost control a coequal objective, just as important as the expansion of insurance coverage, which has traditionally been the dominant goal,” said Rahm Emanuel, the White House chief of staff. “The entire discussion has to be centered on controlling or reducing costs.” Today’s market conditions demand that organizations and their health plans identify and adopt readily available cost containment opportunities. Eligibility Quality Controls: Health plan enrollment has lacked any meaningful Internal Controls for decades. For instance, enrollment forms have not changed much since the 70s. Moving enrollment to the Web simply compounds the problem. This outdated process was designed to facilitate gaining coverage through an employee signature, but paper and web forms fails to verify the eligibility of dependents. A Case Study in Savings: An oil and gas producer in Dallas, TX spending $3,600 per dependent per year, saved nearly half a million dollars in first year cost savings... Manual audits often fail to produce actionable results and do not overcome the three most common disruptive factors.
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