Advisers and Consultants
Stay competitive with innovative cost containment and compliance focused solutions for your clients.
Advisers who understand how Dependent Eligibility Audits work, and how to discuss them with their clients, have a rare opportunity to strengthen their relationships and possibly gain new customers. Brokers who offer voluntary benefits are also able to capitalize on the demand for Dependent Eligibility Audits. A very recent trend is that voluntary benefit brokers are offering a ‘free’ Dependent Eligibility Audit to prospective clients, contingent on the prospective client agreeing to offer voluntary benefits to its employees. In reality, the brokers are paying the audit firm. This is just one example of how brokers are using these audits to win new business.
Discussing Dependent Eligibility Audits with current clients is not only important for defensive positioning, but also has value as part of the client’s current benefit management strategy. If a client is going through a major Plan change, such as transitioning to a new carrier, an audit can be an effective way to make sure that the client starts the new Plan with the correct dependents. Dependent Eligibility Audits can also provide an opportunity for your clients to gather critical information from their employees such as social security numbers required by the new Medicare Secondary Payer provisions implemented in 2009.
As an adviser, you would want to choose the right audit company for your client. You will need a company that:
- has knowledge of current healthcare regulations;
- knows the technology to perform the process rapidly and securely at a low cost; and
- will guarantee results that offer your client immediate cost-savings.
These are key components to providing a favorable experience to your client as well as their employees.