Savings Calculation Request

Let's face it. It's hard to save money. Dependent eligibility, working spouse, and medical/pharmacy claim audits are one of the few areas in benefits where money can be saved in a transparent, recurring, and immediate manner.

In general, eligibility audits can potentially reduce claim costs by 2% - 3%. Claim audits can save an additional 4% - 7%. Said another way, a business operating on a 5% profit margin would have to generate 20 times the savings in revenue equivalents.

To build your estimate we need some additional information

Please send an email to Info@HRBestPractices.com and provide the following.

Funding arrangement (self-funded or fully insured)

Number of employees enrolled with one or more dependents

Number of spouses/domestic partners

Number of children

Average age

Average compensation (excluding leadership)

Number of locations with at least 50 employees

Last time a dependent audit was completed

Governance culture (low, medium, high)

For Self-funded Groups

Annual medical and pharmacy claims spend

Stop loss attachment point

Working spouse provision (if mandatory carve-out, then "yes")

Estimated percentage of working spouses no longer on the plan (optional)

For Fully-insured Groups

Coverage tiers

Enrollment counts by coverage tier

Enrollment counts by family size (if available)

Employee premium contribution by plan and coverage tier