As a business owner, your time is extremely valuable. The more time you spend managing employees and taking care of HR-related issues, the less time you have to run your business. However, if you negl…Read More
Dependent & Beneficiary Audits
Accurate information equals valuable bottom line dollars!
Dependent audits help save money by avoiding claims being paid to ineligible dependents. The most common cause for this is an employee’s misconception of what a dependent is. Another example is a married couple that divorces and both partners remain on the plan when only the employee—not their spouse—should remain benefit eligible. Not staying on top of this can really add up and impact the cost of health insurance at the time of renewal.
Dependent audits are a prime example of how, through a free service, Sensible Benefits helps our clients save money on an ongoing basis.
Beneficiary audits are important for all of an organization’s internal clients from the top down. Imagine an employee dedicating their lives to an organization only to have a large death benefit paid to an ex-spouse because their life insurance policy’s beneficiary was never updated after divorce. This is easily rectifiable and clearly demonstrates the need to review all employee benefits at least once every year.
Designed and implemented to ensure a long-term relationship, our core and supplemental insurance services lead the industry in terms of flexibility and common sense. Find out more about how our industry-leading insurance advisors and health insurance consultants can benefit you by contacting the Sensible Benefits team now.