Human Resource Leadership
A medical plan audit is essential to a self-funded plan. It’s important as a way to recover potential overpayments but also demonstrates compliance and fiduciary responsibility. Additionally, it corrects systemic issues which are the real recurring causes of lost health plan dollars. This session will also stress that the prevailing idea of only doing this if the recoveries will cover the cost is erroneous thinking. A plan audits because “you don’t know what you don’t know” and the cost of doing it is literally miniscule compared to a plan’s annual spend.
Featuring input from a leading employer, which conducted a medical plan audit through a leading medical plan audit company at the recommendation of their broker, the session will touch on some of the key aspects of an audit, including the financial impact it can have for self-funded employers and its critical role as a trust-building tool.
Medical plan audits offer peace of mind and solidify the ongoing business relationship between an employer and an insurance carrier by verifying accurate claims processing for both parties.
This session will review each step of a medical plan audit and highlight the important impact it can have for employers with self-funded health plans.