Dependent verification audits are crucial for ensuring proper management of employer-sponsored health plans. However, the dependent eligibility verification process can be a hassle for employers and employees, especially if the audit experience is inefficient, confusing, and time-consuming. A faulty eligibility audit can cause major disruptions in benefits administration and contribute to wasteful plan spending, creating ripple effects on both employee satisfaction and employer bottom lines. Identifying the red flags of an inadequate verification process early and implementing the right solution can help mitigate financial risks and protect plan value — it begins with locating the gaps in your current workflow.
Warning Signs: Is Your Dependent Eligibility Verification Meeting Expectations?
To lower the risk of financial losses and plan devaluation, employers should stay on the lookout for these signs that their eligibility verification solution is falling short:
- Time-consuming manual processes. Relying on outdated processes can stall verification workflows, hindering efficiency and increasing the risk of errors, as HR and benefits administration teams must manually process each audit for every employee. An inefficient audit workflow starts a chain reaction of delays, reduced productivity, and heavy resource consumption that prevents employers from allocating resources to more high-value tasks. Consova specializes in modernizing the audit experience, leveraging streamlined and automated solutions to make the verification process hands-free, saving substantial time and resources for employers.
- Low employee engagement. A fragmented and confusing audit workflow significantly impacts employee satisfaction and participation — that’s a problem when engagement is an essential component of eligibility verification. Low levels of engagement lead to inaccuracies and delays, ultimately compromising the integrity of the data. By going where the employees are today, and offering intuitive interfaces and convenient self-service options, Consova empowers employees to take an active and efficient role in the verification process, enhancing the overall experience and driving engagement.
- Lack of data accessibility. Limited access to verification data stifles decision-making and strategic planning for plan assets. Employers struggle to identify and correct inappropriate spending without full transparency into dependent eligibility status, leading to lower plan value and fewer resources for employees and eligible dependents. Consova’s modernized and easy-to-integrate solution provides real-time access to comprehensive verification data and analytics. It enables HR staff and benefits administrators to make fully data-driven decisions about their health plans.
- Low return on investment. Maximizing return on investment (ROI) is key for any solution, especially in health plan administration, as the cost of care continues to balloon year after year. A low ROI represents wasted resources and missed opportunities for savings and process improvements. A data-driven audit partner like Consova can quickly identify strategies to increase engagement and maximize financial impact, building a more cost-effective and streamlined verification workflow that achieves an average 10:1 ROI.
Close the Gaps With a Modernized Audit Solution
Efficiency, engagement, and transparency are now more important than ever in the dependent eligibility verification process. Consova’s automated dependent verification services seamlessly integrate within any enrollment platform, helping self-insured employers optimize their cost containment solutions to maximize benefit value and drive consistent, year-over-year plan savings.