EOI

Ideon offers reporting and reconciliation on unapproved coverages. This product also allows dual-party visibility - Carrier and Platform - into potential issues with existing EOI rule builds.

Overview

Ideon's Evidence of Insurability reporting product is a standalone/add-on product. This product takes a few key datasets and produces a powerful set of results.

By comparing the carrier rules, decisions, and associated member data, we can quantify unrecognized risk​ per group. After analyzing this data, we can present these results and develop a plan to reduce and mitigate further risk.

EOI processes don't often align between Carriers and Platforms. Inaccuracies and process gaps can lead to:

• Dissatisfied customers

• Churn risk

• Financial risk (fines, errors & omissions)

• Operational burden

• Reputational damage

• Uncertainty around Claims payouts

We provide visibility into the results of platform and carrier EOI processes, by:

• Identifying employees whose elections require EOI, including “why” they might need it​

• Analyzing for EOI discrepancies – identifying where EOI should have happened but didn’t​

• Surfacing EOI discrepancies and trends, to Carriers and Platforms

  1. As standard discrepancies via API​

  2. As a weekly report, delivered via SFTP

Contact our team to discuss adding on these features, for new or existing groups

Applications

As a Carrier partner of Ideon, you might use this information to:

• Identify and notify members that an EOI process is required, if within the eligible period

• Continuously evaluate unapproved coverage amounts

  • Above GI/GA

  • Invalid Increment

  • Above Maximum

• Provide alerts of Late Entrants, or Potential Late Entrants

As a platform partner of Ideon, this reporting can help clarify and resolve discrepancies related to unapproved coverages:

• Storing Requested and Approved coverage amount, when coverages "require" EOI

• Augmenting how EOI is completed, or tracked

• Evaluating the processes your platform requires for voluntary benefits

Reporting Features

Ideon's comparison produces a compact and useful report. The results of this report help ground objective conversations with Carriers and Platform teams, with the common interest of an improved member experience.

This report includes:

• Member Demographics

• Coverage Details

• Reason for EOI

  • i.e. Late Entrant

• Confidence Level

  • With minimal election info, we might produce a "potential" result

  • This would be marked with the appropriate Confidence Level (High -> Low)

• Decision Details

We also have access to Advanced EOI Reporting information with the existing Ideon Dashboard.

Dashboard Features

• Reporting Access

  • Current Reporting

  • Past Versions

• Metrics

  • Resolution Charts

    • Track the total unapproved coverage amount over time

  • Summary Statistics

    • Track the flagged and resolved discrepancies within the group, or across groups

Contact an Ideon representative today to discuss EOI reporting, for new or existing groups