Budco Health Service Solutions
Dependent Eligibility Verification Audits
In an effort to cut costs and reduce overhead, companies and organizations of all types are searching for a solution that can put a dent in their expenditures. One of the greatest sources of preventable spending is health care coverage, specifically inefficiencies and invalid claims. It is only by conducting thorough and accurate dependent eligibility verification audits that companies can be truly sure that money is only being spent on valid claims. Budco Health Service Solutions is not only a leader in this field, but is also its originator. Having been the first to recognize the need for such a service more than ten years ago, we have established and perfected our methodology thanks to a staff built on experience and a sharp focus on developing ways to manage benefits costs.
Manage Benefits Costs
It is remarkably commonplace for companies to be providing health care coverage to ineligible dependents, and it can account for hundreds of thousands or, in some cases, millions of dollars that are being needlessly spent. In fact, some dependent eligibility verification audits have revealed upwards of 10% of beneficiaries as being ineligible to receive benefits based on the specific policy in which they are enrolled. In the interest of efficiency, Budco can vet existing dependents to ensure that each one is, in fact, eligible and that every claim is valid. This is one of the primary ways companies can manage benefits costs.
Dependent Eligibility Verification
Companies must not assume that all beneficiaries currently receiving health care coverage as part of an employee benefits policy are eligible to receive this care. Examples of common ineligible claimants include ex-spouses and adult children who are no longer attending a secondary institution of learning. Dependent eligibility verification has shown that many of these cases are not fraudulent or deliberate, but arise from administrative shortcomings. Budco can assist companies of all sizes in eliminating expenditure to ineligible beneficiaries by conducting audits that thoroughly assess each individual to ensure that they are truly entitled to the coverage they receive as outlined by company policy. Dependent eligibility verification is a complex process, which is why it is our exclusive focus.
