Ultralink’s New Dependent Eligibility Audit Service Generates Significant And Immediate Return On Investment
9 August 2005
UltraLink, a leading employee benefits consulting and administration firm, today announced its Dependent Eligibility Audit service to help companies better manage benefit costs for both employer and employees.
As health care costs continue to soar, UltraLink’s Dependent Eligibility Audit service is a valuable method with which companies can effectively qualify the benefits they provide to their employees. A typical UltraLink audit can uncover a large number of ineligible dependents, primarily through aged-out college students or divorce, often resulting in anywhere from 10-15% of annual premium cost savings.
One recent UltraLink audit of a client providing benefits for 5,000+ employees and 10,000+ dependents, found 16.7% of the company’s dependents ineligible for coverage. The process, from beginning to end, took eight weeks and was able to be completed with minimal involvement of the client, allowing them to focus on both day-to-day benefits activities and equally important strategic planning. Ultimately, UltraLink’s Dependent Eligibility Audit will save the client more than $17 million in unnecessary benefit costs over the next five years, and over five million in the first year alone.
“UltraLink excels at these types of projects – our expertise in both managing the data process as well as communications with employees through our HR Answer Center, where we answer, un-scripted, tens of thousands of calls per year, allow us to deliver our clients a solid return on their investment,” said J. Stephen Ashley, Senior Vice President of Client Consulting Services for UltraLink. “We have been providing this type of service to our full-service administration and procurement clients for years on a case-by-case basis. But because we see such an extraordinary demand for these types of cost-reducing projects we are making this service easily available to any company as a formalized offering.”
Ashley continued, “We’ve maintained many decade-long client relationships primarily due to our ability to not only administer their benefits data but most importantly, to independently identify ways for them to simplify processes and save considerable benefits dollars. We are now formalizing many of these capabilities into specific audit services that any company can quickly and efficiently utilize for immediate cost savings.”
UltraLink’s Dependent Eligibility Audit
UltraLink’s proven methodology and resources make the Dependent Eligibility Audit an easy process for employers. UltraLink’s Dependent Eligibility Audit provides the following:
* A skilled communications team to create and distribute written communications
* Call center support via UltraLink’s HR Answer Center (HRAC) to assist employees through the project including outbound calls for non-responding employees
* Resources to manage the flow of documents that meet requirements as proof of dependent eligibility
UltraLink’s expert HR consultants also develop the appropriate plan, including a timeline and the written documents. Please visit UltraLink’s Employer Savings Calculator for a quick, personalized cost savings estimate: http://www.ultralink.com/services/cn/depeligibilityaudit.asp.
About UltraLink
UltraLink is an employee benefits consulting and administration firm focused on helping clients control and drive down the costs of their health and welfare benefits offerings. While many outsourcing solutions modify pre-set vendor/service programs, UltraLink offers a distinctive, flexible approach, tailoring services to a company’s individual needs. UltraLink designs, acquires and manages a company’s entire benefits offering, minimizing benefits cost while maximizing their value.
Founded in 1989, UltraLink has maintained long-term relationships with many well-known, established corporations. The company processes more than 50 million eligibility records, $700 million in healthcare premiums, and manages over 450 vendor/carrier relationships annually on behalf of its clients. For more information about UltraLink, please call 1.866.845.0403 or visit the company’s website at www.UltraLink.com.
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: www.HRmarketer.com) on behalf of the company listed above.
Source: PR Web
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