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checking medical insurance bills
Benefits & Compensation
checking medical insurance bills
Exchange ideas about health plans, retirement, work/life benefits, and employee assistance.
Every time we get the bills from the insurance companies we compare the enrollement with our personeel records. We do this by hand. This procedure is very time consuming. How do other companies check
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Forums » Topic Forums » Benefits & Compensation » checking medical insurance bills
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checking medical insurance bills
posted at 1/30/2001 10:28 AM EST
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Posts: 2
First: 1/30/2001 Last: 1/31/2001 |
Every time we get the bills from the insurance companies we compare the enrollement with our personeel records. We do this by hand. This procedure is very time consuming. How do other companies check if there bill is correct and if the right people are enrolled?
Thanks, Susan |
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checking medical insurance bills
posted at 1/30/2001 2:24 PM EST
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Posts: 2442
First: 2/12/2000 Last: 9/14/2011 |
One way to save alot of time is to review the files only twice a year and then get the retroactive credits. This is a much better use of someone's time and the payback is much higher for the time invested. The only loss is the time value of the late returned premiums. If this is perceived as a lot of money then it would be worth the time of lower level person do this once a month. Is it worth the cost of one person at minimum wage for one day a month or approximately $50? |
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checking medical insurance bills
posted at 2/1/2001 2:56 AM EST
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Posts: 33
First: 11/15/2000 Last: 2/13/2002 |
We are still a small company, so we do it the same way as you. However, we anticipate some serious growth over the next 12 months, and I am planning to review every other month. Essentially cutting the time it takes to validate our premium statements in half. In the 4 months I've been doing this, I've only once found people on our bills who didn't belong, so I'm developing a level of confidence in the accuracy of our vendors' recordkeeping. This may also be something worth considering for you. If you are regularly finding errors on your bills, you may need to have a conversation with your vendor(s). I think twice a year as Howard recommends is a little too infrequent, but bi-monthly or quarterly may be an answer. |
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