Verifying the eligibility of employees’ dependents is one of the most lucrative ways to unlock savings for plan sponsors, but it’s not always a walk in the park. That’s because the traditional process is clunky, overly complicated, and frustrating for employees and employers alike.
Thankfully, there’s a better way with Consova, now part of Lumelight. Our dependent eligibility verification audit program, iVerifyPro, helps plan sponsors cut unnecessary costs while delivering a smoother experience for employees. Here’s how plan sponsors unlock an average ROI of 10:1 with Consova.
Greater Savings for Plan Sponsors
Take the clear path to savings. Consova’s thorough audits to verify dependent eligibility help plan sponsors lower total healthcare spending by 5 to as much as 12%.
Initial & Ongoing Dependent Verification
Things slip through the cracks. It happens. But when non-eligible dependents get added to a benefits plan, those “slips” come at a major expense to plan sponsors. It’s estimated that 5–8% of enrolled dependents are ineligible for coverage, representing a clear opportunity for cost savings.
Consova helps patch up those cracks by implementing initial and ongoing verification as part of our dependent eligibility audit program. Whether it’s during a new hire or another qualifying event, Consova ensures that every new dependent is properly verified before being added to the plan. Together, these initial and ongoing reviews can knock significant dollars off the total cost of a plan for the first year.
Spouse Re-Review
Verifying dependents upfront is one thing, making sure that they’re still eligible as the plan continues is another. The biggest factor here is divorce, with 10–13% of separations going unreported by the employee — and undiscovered by traditional dependent eligibility audits.
As much as we respect the honor system, Consova makes spouse re-review a regular part of ongoing dependent verification. By ensuring plan sponsors aren’t footing the bill for ineligible ex-spouses, Consova helps unlock 5-10% health plan savings for the first year alone.
Working Spouse Verification
Between spouse surcharges, limited plan options, mandatory participation in their own employer-sponsored plan, employers have a lot of flexibility when allowing their employees’ working spouses to hop on the company health plan.
That flexibility can come with its fair share of complexity, though. It’s not always easy to keep track of eligibility conditions, and whose spouse may no longer be eligible for the plan.
Consova’s Working Spouse Verification contacts each spouse’s employer to verify that they are fully eligible to benefit from the plan in question. Taking the guesswork out of the equation offers employers the chance to increase their surcharge collections or simply reduce unnecessary costs when there is an exclusion rule and therefore the spouse is identified as no longer eligible for the plan.
Better Support for Employees
Give employees the helping hand they deserve. Consova’s employee-focused approach to dependent eligibility verification has led to an industry-leading 98% average participation rate.
Employee Web Portal & Secure Documentation Upload
“Where am I in the process?” “Am I waiting on them, or are they waiting on me?” “Did they ever get that document I uploaded?” With the lack of clarity around the traditional dependent verification process, it’s no wonder that employees have a mountain of questions!
Consova puts confusion to rest with our secure, customized iVerifyPro web portal. Employees can easily submit the required documentation, check the status of their verification, and clearly see their audit results.
And rest assured, employee personal information is in safe hands. Consova maintains SOC 2 Type II and HIPAA certifications and meets all of the requirements of HITRUST. That goes a long way for employees’ peace of mind, and offers greater risk mitigation for employers.
Full-Fledged Support
With Consova, employees always have a helping hand. In addition to the convenient employee web portal, plan sponsors can point their employees to Consova’s multi-pronged support process whenever they need assistance.
Whether they access our online chat function, use our interactive voice response system over the phone, or get in touch with our call center team, employees have flexible options for getting the support they need throughout the dependent eligibility verification process.
Fully Managed Appeals Phase
A smooth appeals phase is always part of verification — or at least, it should be. Frustratingly, the traditional process usually leaves plan sponsors to handle the flurry of communications from employees who want to file an appeal.
With Consova, plan sponsors are never left holding the bag. We handle the final employee interaction, where we typically see the highest call volume. That saves plan sponsors time and effort, while helping employees easily get the support they need for their appeal.
Verify Dependents With Consova, Now Part of Lumelight
Thousands of verifications completed, 5 million dependents reviewed, over $1B in savings generated; there’s a good reason that Consova is such a trusted name in dependent eligibility verification.
Over the years we’ve partnered with regional employers up to Fortune 500s, and everything in between. Now as part of Lumelight, we’re poised to offer full-service benefits and compliance support to brokers and their clients.
Make dependent verification part of your benefits program with Consova and Lumelight.