June 23, 2006

First phase of benefits audit saves $1.3 million

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Photo by John Howser

An audit of dependents covered under the Vanderbilt health care plan has resulted in almost 500 dependents being voluntarily dropped from the health plan and a savings of $1.3 million, said Kevin Myatt, associate vice chancellor and Chief Human Resource Officer.

In April the Office of Benefits Administration began the process of auditing the dependents covered under the Vanderbilt Health Care Plan for Faculty and Staff. Aon Consulting conducted the first phase by mailing more than 8,500 eligibility forms to faculty and staff who cover dependents on the health plan.

“We are pleased to announce that we have reached nearly 94 percent of our faculty and staff during the first phase of the audit,” said Jane Bruce, director of benefits. “These [dropped] enrollees were most likely eligible initially, but lost coverage over time and our employees hadn't had a chance to drop them from coverage.”

Bruce said the second phase of the audit, aimed at reaching the employees who did not respond to the April audit, is under way.