Our baseline plan audit and routine plan monitoring services help to ensure that our clients’ plans are operating at peak efficiency by identifying and monitoring claims administration errors to reduce or eliminate potential fraud, waste, and abuse early when it arises and is easier to address and correct.
After pinpointing the issues for our client’s plan, we support follow-up actions to maximize plan recoveries. Our audits give fiduciaries facts they can use to assess the plan performance, and our audit criteria and norms identify what is working well and what requires attention. They also support an action plan that can be monitored to assess financial returns and process improvements. Benegration’s claim audits can also confirm compliance with any plan regulations or provisions that may apply to clients. Failure to comply can result in an array of penalties (often financial) that can be assessed to the plan, its sponsors, and its fiduciaries. An audit helps clients meet the requirements of the law and the expectations of executives, shareholders, board members, elected officials, and the public.