Financial Technology, Inc. Employee Benefit Services
Dependent Audit Verification
The intent of a Dependent Audit is to ensure that each dependent enrolled in your medical benefit program is accurately listed and eligible for coverage.
Studies show anywhere between 3%-8% of dependents covered by an employer's health plan are ineligible for coverage. The return on investment of the Dependent Audit is between 300% and 600% for the first year. We partner with BASIC to offer this service, contact us today for help with Dependent Audit Verification.
Reasons to Outsource
Resources and expertise: Our proven audit process provides the
resources and methodology needed to devote to a dependent eligibility
audit. Outsourcing relieves companies from committing to large
investments in technology and additional staffing.
Employee Relations: A Dependent Audit can be an anxiety-ridden event.
By outsourcing, the employer is mostly removed and is less likely to be
cast in a negative light.
HIPAA: While eligibility information doesn’t necessarily fall under HIPAA,
many companies prefer to err on the side of caution. Outsourcing helps
to ensure employee privacy.