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
White Papers
Provided by Anaplan
Further Reading
The Financial Accounting Standards Board (FASB) is requiring public companies to disclose expense details involving employee compensation, ...
Mastering the basics of Excel is the gateway to understanding more advanced features. Starting with basic cells and progressing to Pivot Ta...
An Excel database is perfect for organizing — and clearly seeing — financial data. A database includes a series of records in r...
Did you hear about the Snowflake hack? Snowflake is a cloud computing company that got blasted by a series of attacks earlier this spring. ...
Financial crime is evolving faster than finance teams can keep up. Deepfakes fool executives into authorizing wire transfers. Synthetic ide...
If you’re lucky, the only kind of employee theft you’ll have to worry about at your company is parents swiping office supplies ...
