• Thought we would ask

    Lindquist polls

How often does your self-funded health plan conduct claims testing?

0%Every 3 years
100%Every year
0%Never

Self-funded health and welfare plans should have an outside auditor test claims annually (best practice), but absolutely no less often than once every three years.  Under the self-funded arrangement, plan sponsors, not insurers, assume the risk. An ongoing claim audit program enables plan sponsors to satisfy their fiduciary obligations, monitor costs and potentially identify areas for savings.  Additionally, certain organizations may be required by an outside body to have claims audits (e.g., under Washington Administrative Code 200-110-120, self-funded public entities in the state of Washington that sponsor health plans are required to conduct claims audits once every three years.) 

Contact Lindquist's Claims Audit Senior Manager Jody Reimler at 925-277-9100 to learn how we can help you.

Previous poll questions

Does your organization have a hotline to report fraud?

42.9%Yes
52.4%No
4.8%Don't Know

Fraud is most commonly detected through tips.  Organizations that have reporting hotlines are more likely to detect fraud through tips (47.3%) than those that don’t (28.2%).*  

Visit our Forensic page or Contact our Director of Forensic Services to learn more about preventing and detecting fraud in your organization.

*2016 ACFE Report to the Nations on Occupational Fraud and Abuse:  http://www.acfe.com/rttn2016.aspx

What is the most common way fraudsters get caught?

0%Internal Audit
60%Employee tip
0%Management review
20%External Audit (e.g., CPA audit)
20%Accidental discovery

Fraud is most commonly detected through employee tips, followed by internal audit, management review and then accidental discovery; external audit is the eighth most common way that occupational frauds are initially detected.*  To help fortify your organization against fraud, contact Rich Gordon, our Director of Forensic & Valuation Services.

*2016 ACFE Report to the Nations on Occupational Fraud and Abuse:  http://www.acfe.com/rttn2016.aspx

How concerned are you about the results of the Employee Benefit Plan Security Administration’s latest study on audit quality?

66.7%Highly concerned
16.7%Moderately concerned
0%Not at all concerned
16.7%What study?

A recent study by the U.S. Labor Department’s Employee Benefits Security Administration (EBSA) found that only 61 percent of benefit plan audits fully complied with professional auditing standards or had only minor deficiencies. The remaining 39 percent of the audits contained major deficiencies, which put $653 billion and 22.5 million plan participants and beneficiaries at risk.  The study shows a correlation between the number of employee benefit plan audits a firm conducts and the level of audit quality.  For more information, visit:  https://www.dol.gov/ebsa/newsroom/2015/15-1000-NAT.html

Lindquist LLP conducts more than 200 employee benefit plan audits annually and adheres to the highest standards of quality.  Contact Barry Omahen, Lindquist LLP’s chief quality control reviewer and partner responsible for the firm’s employee benefit plan practice, to learn how we can help you.

Does your organization have a written whistleblower policy in place?

0%Yes
0%No
0%Whistleblower policy?

If your organization files Form 990, the IRS inquires about the existence of a whistleblower policy.  Whistleblower policies enable employees and volunteers to report violations of policy or law without fear of retaliation. 

Visit Insights to download a sample whistleblower policy.

Does your local union have a credit card usage policy?

0%Yes
0%No
100%Not sure?

To ensure compliance with the Labor-Management Reporting and Disclosure Act and to safeguard union assets, labor organizations should establish best practices for monitoring credit card use and administering payments.   Refer to the Department of Labor’s compliance tip on union credit card policy: https://www.dol.gov/olms/regs/compliance/CompTipCreditCard.htm

Contact Lindquist Partner Michelle McCann for help creating a policy for your union. 

Does your trust’s payroll compliance program use the “piggybacking” concept?

50%Yes
0%No
50%What is piggybacking?

"Piggybacking" is a method accounting firms use to test multiple benefit plan contributions made by a single employer.  Piggybacking may yield cost savings of 25% or more per audit, depending on the number of plans tested and whether the plans cover the same employees.   It is also more convenient for contributing employers, reducing the time spent scheduling the audit, collecting records and addressing auditor inquiries.

Contact Partner Kyle Whittemore to learn more about piggybacking for your program and refer to the article: Best Practices in Payroll Compliance Programs:  The Advantages of Piggybacking.

How often does your self-funded health plan conduct claims testing?

0%Every 3 years
100%Every year
0%Never

Self-funded health and welfare plans should have an outside auditor test claims annually (best practice), but absolutely no less often than once every three years.  Under the self-funded arrangement, plan sponsors, not insurers, assume the risk. An ongoing claim audit program enables plan sponsors to satisfy their fiduciary obligations, monitor costs and potentially identify areas for savings.  Additionally, certain organizations may be required by an outside body to have claims audits (e.g., under Washington Administrative Code 200-110-120, self-funded public entities in the state of Washington that sponsor health plans are required to conduct claims audits once every three years.) 

Contact Lindquist's Claims Audit Senior Manager Jody Reimler at 925-277-9100 to learn how we can help you.