Honkamp Krueger & Co., P.C.'s primary goal is to make the process of a dependent eligibility audit easy! We work with you on the initial planning, and then we take it from there. The dependent eligibility audit typically has five phases through which we lead our clients:
- Planning phase – Honkamp Krueger works with you to tailor our approach to specifically meet your organization’s needs. We provide communication documentation (online, email/letter, memos, etc.) regarding why the audit is being conducted, along with how the process will unfold to keep employees informed.
- Amnesty phase – This phase provides time for employees to come forward without repercussions to voluntarily remove any ineligible dependents.
- Verification phase – Honkamp Krueger works with all of your covered employees to verify that their dependents are eligible for coverage. During this phase we compile an accurate centralized database of eligible dependents through our secure email, fax, customized Internet based dependent portal and hard copy mail.
- Reporting phase – We provide a recap of how many dependents were removed, estimated first-year and ongoing annual savings and a return on investment (ROI) analysis.
- Best practice continuous monitoring/other observation phase – During this final phase, we provide any additional forward-looking information/observations from a best practice perspective to further assist your organization with reducing benefit plan and other dependent/health care related costs proactively going forward.
Unlike any other dependent eligibility audit consulting firms in the Midwest – Honkamp Krueger also voluntarily undergoes a reoccurring peer review conducted by an independent and objective 3rd party audit firm to provide additional reassurance to our benefit plan audit clients over the quality of our services and adherence to privacy, security and regulatory requirements.
Contact us today to learn more about our dependent eligibility consulting practice!