Dependent Eligibility Verification allows companies to alleviate the steep cost of benefits while continuing to offer excellent coverage to those who are eligible
Newport Beach, Calif. (PRWEB) January 21, 2009
Secova Inc., a leading benefits management and administration solutions provider, and The Segal Company, HR and benefits consulting for multiemployer trust funds and public sector organizations announced today that they will be co- presenting a seminar discussing healthcare cost containment solutions and the required processes for the removal of inappropriate claim expenditures. This discussion will be led by Bruce Borgos, Director of Audit Services at Secova and MaryAnne Watson, Vice President Claims Auditing Services from The Segal Company, on Thursday, January 22, 2009.
“Dependent Eligibility Verification allows companies to alleviate the steep cost of benefits while continuing to offer excellent coverage to those who are eligible,” says Bruce Borgos, Director of Audit Services from Secova. “Case studies have shown a 6% to 10% drop in the number of covered eligible dependents once employees are asked to provide supporting documentation. National benchmark reports companies save $2,400 - $3,600 per dependent per year.”
“In today's automated world, an increasing number of claims are submitted electronically and processed without human intervention,” says MaryAnne Watson, Vice President Claims Auditing Services from The Segal Company. “While efficiencies have been gained in timeliness and consistency, many administrative practices have reduced key sentinel efforts required to ensure fiduciary responsibility. Employers are now showing a renewed interest in claims audits not only to reduce costs but to also improve efficiency.”
In this seminar Bruce Borgos and MaryAnne Watson will be discussing how you can continue to provide affordable quality health care and protect your current plan from inappropriate claim expenditures. Bruce Borgos (Secova, Inc) will discuss key issues and approaches to a Dependent Eligibility Verification Audit. MaryAnne Watson (Segal) will identify administrative practices that may place your health dollars at risk.
To register for this event, please click here. This event is being held for Chapter Members of Hartford Worldwide Employee Benefits Network (WEB).
About Segal: For over 65 years, The Segal Company has been providing benefits and human resources consulting for multiemployer trust funds and public sector organizations. As a private employee-owned actuarial and consulting firm, The Segal Company is a completely independent organization. Our independence allows us to provide totally unbiased consulting services for our clients. For more information, visit the company website at http://www.segalco.com.
About Secova: Secova consults mid- to large- size companies offering a combination of services – from Benefits Enrollment and Administration to Absence Management and beyond – including Benefits Auditing, Benefit Plan Management, COBRA Administration, Employee Communications, HR Support Services and Payroll. The Secova management comprises veterans who have managed large consulting practices for the healthcare industry, and the company has global delivery centers in the U.S and India. For more information, visit the company website at http://www.secova.com.
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company listed above.