News for HR & Benefits Staff
Current Edition - March 18, 2014
Welcome to the March 18, 2014 Special Edition of HR & Benefit News. After reading these articles, please let us know if you have any questions. Always feel free to send us your comments and questions for future publications.
Life and Disability Audit
A HUGE thanks to all of you who have helped us work through the Dearborn National EOI Audit process for voluntary group term life and disability coverages. We began this project late last year and have worked through four months of data (September - December) so far. To date, we have reviewed 397 records and found only a small percentage — just 16% — has needed some kind of correction. Some of the learning outcomes from this process have helped clarify policy interpretation, reasons for gaps in coverage, reporting expectations, and communication procedures in file transfers.
The following articles provide information we have learned and also suggestions for streamlining our processes.
Employment Date vs. Benefits Status Date
Improving the accuracy of certain data could significantly reduce the number of discrepancies being flagged for review. That means less work for you! We have found that many of the items on the monthly reports from Dearborn are not truly discrepancies at all, but because of the way the data looks when it is transferred from the institution to OEB, this is difficult to discern.
In particular, 'Employment Date' and 'Benefits Status Date' are key fields in the audit process. Using these two fields correctly can help avoid a lot of additional work following up on EOI questions. Read more >
Retroactive Cancellations and Premium Reimbursements
As you know, OEB has been working directly with institution HR and Benefits Offices to identify and resolve Voluntary Group Term Life and Short and Long Term Disability coverage errors. For Employees and Retirees who were enrolled in Life or Disability coverage beginning September 1, 2013 or later without meeting applicable EOI requirements, the coverage must be retroactively cancelled because these individuals were not eligible to enroll in the coverage, and the premium paid for that coverage must be refunded to the member.
For subscribers who have coverage retroactively cancelled because they did not meet the EOI requirements, you will need to provide information and process premium refunds. Handling these consistently will help ensure timely and accurate processing. Read more >