Secova Announces Coordination of Benefits (COB) Audit Services
Employers can achieve substantial savings by collecting and applying other insurance information on enrolled dependents.
Newport Beach, Calif. (PRWEB) June 18, 2013
Secova, a firm that provides customized solutions for the administration of employee benefits and human resources, introduces an innovative process that removes the administrative burden experienced by many employers when trying to coordinate benefits with insurance carriers. As a part of the Coordination of Benefits (COB) service, Secova collects other insurance information from plan members on enrolled dependents. This information is then used to adjust coverage tiers to appropriate levels to achieve substantial savings for employers.
Utilizing a rules-based engine, Secova configures benefit order rules (typically NAIC) and applies other insurance information to determine primary, secondary, and/or tertiary coverage levels. Secova's clients no longer need to make manual benefit order determinations themselves, as these decisions are automated by Secova's process.
Secova recently engaged with the Retirement System of Alabama's (RSA) Public Education Employees' Health Insurance Plan (PEEHIP) to complete such a project.
"PEEHIP is partnering with Secova to conduct a COB audit to ensure that claims are being properly processed for our members and dependents," explains Lee Hayes, RSA's Transitional Director, "The PEEHIP plan must continue to work smarter to cope with rising costs and to manage the mandatory provisions required by the Patient Protection and Affordable Care Act. Secova has demonstrated expertise in their state-of-the-art security processes and has kept our data secure for all of our members. The Secova team has performed above our expectations on other projects and generated significant savings to the PEEHIP plan."
The positive results Secova has achieved in performing similar insurance collection services for other clients of differing sizes and from various industries is a testament to its communications and platform capabilities. The new COB Audit capability accompanies FSA/HSA administration and absence continuant direct billing to total three new service offerings Secova has introduced within the past year, reaffirming Secova's role as an innovator in providing benefits management solutions.
Secova (an acronym for Service is Our Core Value), is an ISO/IEC 27001:2005 certified firm based in Newport Beach, California. With delivery centers in California, New Jersey, and Chennai, India, Secova provides customized solutions for the administration of employee benefits and human resources that include the technology to enroll in benefits, a 24/7 live answer call center, eligibility management, and billing management. Since its inception, Secova has worked with Fortune 500 companies, mid-size corporations, multi-employers, and state and local governments. For more information on Secova, please visit http://www.secova.com.
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