As a benefits advisor, you provide comprehensive solutions for your clients and prospects. After all, your clients depend on your services to enhance and safeguard their benefits program. There are many moving pieces in employee benefits that your clients need you to advise on — among them are cost-cutting opportunities and compliance. Fortunately for brokers, there's a solution that addresses both overspending and compliance: dependent verification audits.
What is a dependent verification audit?
A dependent audit is a thorough review of an organization's entire enrolled population in health, dental, and vision plans. The goal of the audit is to identify and remove any ineligible dependents from coverage.
There are two types of dependent audits: a point-in-time audit and ongoing audits. Point-in-time audits review an organization's entire enrolled population to remove ineligible dependents from coverage (typically conducted post-OE). Ongoing audits are a proactive measure that reviews newly added dependents to prevent ineligible dependents from enrolling in coverage.
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