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Knowingly or accidentally, employees are costing employers thousands by ineligible dependents on their health insurance policies.
How much are these ineligibles costing your company? You would be surprised at how many over aged children or ex-spouses are on your company wide health insurance plan. It is estimated that 2% to 8% of dependents on any given health care plan are ineligible. Each dependent has a cost of roughly $3,000 to $5,000 a year. You can see this can really add up.
To minimize your company paid premiums we recommend doing an “Ineligible Dependent Audit.”
Here are a few tips to maintain the integrity of the eligible dependents of your workforce:
- Do an Audit now. Don’t wait – each month prolonged can waste thousands of dollars in premiums.
- Audits should be done every three years to continually verify eligibility. Things change – children get older, people die, divorce happens.
- Require dependent eligibility documents for all new hire dependents. This can be birth certificates or valid marriage licenses.
Who we are:
This blog is dedicated to help businesses increase productivity, decrease expenses and increase cash flow.
At ConnectionForce, we have created the very first online sales filter to allow you to pre-screen potential vendors before you agree to a meet with them.
Our goal is to totally eradicate Cold Calling as a sales technique within the next 5 years. (2015)
We are committed to making office managers and purchasers jobs easier by making sales people better.
Feel free to subscribe to this blog below. This blog is updated every Monday, Wednesday and Thursday.
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