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Conduct an in-house audit or choose a vendor?

Stefanie Zachery June 29, 2011

So, you need to meet compliance obligations, ERISA and SOX, and you know a dependent audit is the “right thing” to do but how do you get started?  After realizing the need to conduct a dependent eligibility audit, any organization will need to determine if they have the resources to perform the audit internally or outsource to a qualified vendor.  When you take a look internally there are several questions you will need to ask to ensure you don’t get in over your head.

• Can confidentially of information be upheld?
• Can employee’s documents be processed efficiently?
• Can documents be properly associated with the plan member and their dependents?
• Can data be tracked and stored effectively?
• Can calls and questions be answered in a timely manner?
• What documents will you require to verify a dependent?
• How many hours do I dedicate my team/staff to opening, storing, and processing mail?
• Do I utilize my team or hire temps to answer the phone for DE Audit specific questions?

For employers to learn about conducting a Dependent Eligibility Audit, visit The Dependent Audit Guide.

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Tags: Dependent Audit, Dependent Eligibility Audit, Dependent Eligibility Verification Audit, Dependent Verification Audits, DEVA, Employee Benefits, Health Care Reform, Ineligible Dependents, Reduce Health Care Costs