Minneapolis, MN, August 29, 2012/PRNewswire/ -- OutsourceOne, a Minneapolis based Benefits Administrator, announced today it will partner with Certifi, Inc., a leading software and services company to provide highly automated employee benefits data auditing services to employers that will help reduce benefit costs and improve service to eligible employees and their families.
OutsourceOne has begun offering a Dependent Eligibility Audit service line that includes the creation of a client specific audit website with the brand, look and feel of their clients' own websites. Employees simply login to this secure website which has all of their family's specific enrollment information preloaded, and easily interact with the online audit. Online help and plan specific reference tools are configured for each employer. OutsourceOne provides live customer support to employees throughout the process.
Certifi's experience shows that on average, between 4 to 8% of all people covered under an employer's benefit plans are not eligible for coverage at all. For employee families, this represents about $3,300 per year in excess claim costs for each ineligible dependent. To date, all audit clients have experienced at least a 10:1 project return on investment. Once the benefit enrollment data is corrected, employers and health plans pay insurance premiums, administrative fees, and claim charges for only the truly eligible enrollees. Clean eligibility data resolves billing, reconciliation, and access to care problems while preserving the financial integrity of the benefit Plan.
"Our company completed the dependent audit using the Affidavit Only option; we saved our plan over $325,000 per year in go forward claims cost with minimal impact to the organization. The resulting 10:1 ROI was well worth our investment." said Richard Grantham, Manager of Benefit Plans, Ash Grove Cement Company which has approximately 1,500 employees.
OursourceOne Audits can be done at anytime throughout the calendar year, and depending on the audit, will last between 30 and 90 days. In addition to Dependent Audits, OutsourceOne will offer eligibility-based claim audits, spousal surcharge audits and payroll data audits among others.
Since 1988 OutsourceOne has offered comprehensive benefits administration solutions providing a combination of both technology and service. The proprietary BenefitReady platform facilitates Online Enrollment, Eligibility Data Feeds, Private Exchanges, Aggregated Billing & Reconciliation, COBRA/Retiree, FSA/HRA/HSA, and Call Center Services.
Certifi, is an industry-leading Software and Services company created by healthcare benefits experts with over a century of combined experience in information management, compliance and business optimization services. The firm's areas of focus include Software, Services and Consulting within the health benefits administration domain.