More firms use dependent care audits to control health costs
No company wants to believe it’s being defrauded by its own workers. But it’s better to know for sure than to end up paying for individuals who aren’t even eligible for your healthcare benefits.
That’s why more companies are performing dependent care audits – tests to uncover ineligible dependents receiving healthcare benefits.
The numbers support the move. According to research, an audit of 10,000-person company will typically uncover between 200 to 500 ineligible dependents. That’s an annual savings of $420,000 to $1.05 million.
In 2010, 69% of large companies plan on performing a dependent care audit – an increase from the 55% that planned to do it in 2008 – according to a recent Towers Watson and the National Business Group on Health study.
For more information on the type of organizations that can help you perform a dependent care audit, click here.
- Share on
Free Training & Resources
Further Reading
Heads up: Accountants will no longer enjoy a 45-day grace period to file financial reports after completing an audit. The Public Company...
Layoffs, inflation, AI … these are just some of the factors making employees feel more stressed about their jobs and career future. S...
A new proposed rule from the Department of Labor’s Employee Benefits Security Administration outlines how 401(k) fiduciaries must assess ...
Excel is great for summarizing data in tables, charts and PivotTables. Here are a couple of time-saving methods for summarizing data in ...
How did a diversity, equity and inclusion (DEI) program manager defraud Facebook and Nike of more than $5 million? With the help of crooked...
Excel financial formulas allow users to process accounting data quickly and easily. To use a financial formula in Excel, click on the â€...
