Sure, labor shortages and COVID disruptions have come into play over the last couple of years, and there was that time the CEO was covering his mistress on their plan. But we still find those situations to be edge cases and outliers.
Still, some seem to find an excuse not to conduct an audit altogether, which risks their company millions in benefits costs and keeps their plan from compliance.
Here are the three most frequent excuses we come across:
We Don't Have the Capacity
Understaffed and overworked, HR and Benefits teams already have plenty on their to-do lists. It's only natural for them to assume that a verification project will pile even more onto their plates. But that's where a professional, experienced, and specialized partner comes into play.
When you work with a dedicated team devoted to limiting the noise for HR, a Dependent Audit doesn't need to turn into an overwhelming disaster. We've spent over a decade taking on the bulk of the work for our clients. We do all the heavy lifting so they can focus on their primary tasks.
In our post-project surveys, we hear the most common feedback: "It was much easier than we expected because DSI took care of everything."
Most groups can expect only 5-8 hours of TOTAL work time over a 90-day project because we do the rest. Quite simply, you don't need to have the capacity or resources for a Dependent Audit when we do it for you.
We Don't Want to Upset Our Employees
While frustrated employees and their reaction to corporate mandates are a real fear, Dependent Audits are rarely causing concern. Today there is widespread awareness of this standard practice, but even more, when you partner with someone who cares about employee morale, this becomes a non-issue.
You need to work with a company that uses proper messaging to employees. You want them to be clear, very friendly, and have the goal of helping employees verify dependents instead of kicking their family off the plan.
When you work with someone who puts your employees first and genuinely cares about helping them through the project, the number of anxious phone calls drops dramatically.
We Don't Think It's Necessary
This misconception is usually the most damaging and least founded. In any given benefits pool, we find an average of 5.5% of dependents are ineligible. With an average project return on investment of 845%, the data doesn't lie, it paints a very different picture for most employers, and the savings are clearly there.
If you think a Dependent Audit isn't necessary, you are most likely risking a lot of money and leaving it on the table. Don't make this mistake.
Benefits pools naturally get muddy over time and require a good cleaning. Dependent Audits from a team of well-trained professionals like DSI can alleviate the stress on HR, keep employees from becoming frustrated, and save you a ton in the process. All you need to do is ask, and we're happy to help.
