Liability Calculator

*Benefits Billing Errors

Calculate the Impact of Benefits Errors

Did you know that as many as 15% of your Benefits Invoices may contain errors?

To see the potential impact of billing irregularities on your organization, input the total number of employees enrolled in your benefits plan and premium per employee.

# of Benefits Participants

0 Employees

Average Cost of Benefits Per Person*

$0 per month

Monthly Cost of Benefits

Yearly Cost of Benefits

Error-Based Loss**

COBRA Liability Exposure***

TOTAL LIABILITY EXPOSURE


According to an Aberdeen Group study, as many as 12-15% of your carrier invoices may contain errors in the form of overpayment, underpayment, under-and-over deductions,  employees enrolled in wrong plans and other errors. The onus is on your team to catch and correct these inconsistencies before they result in thousands of dollars lost in premium leakages as well as increased liabilities. 

recon3

*According to the 2019 SHRM Report Employers Benefits Costs are nearly $15,000 Per Employee Annually
**The Aberdeen Group study reported that 12-15% of carrier bills have errors.
***ERISA penalties legislation (ERISA)

Take the next step

With the right technologies and processes, there is a way to substantially decrease your compliance exposure and financial risks related to billing irregularities. Join the growing ranks of organizations that have gotten an upper hand by taking advantage of benefits reconciliation using our automated platform, request to see a demo today.

For more information about Benefits Reconciliation, download our Product Guide, Case Study and Webinar.

 

Request Demo