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bswift Unveils Groundbreaking AI-Driven Dependent Verification Solution

In an exciting development for employers and HR teams, bswift LLC has announced the launch of an innovative AI-driven dependent verification solution. This technology represents a significant advancement in employee benefits management, aimed at making the process easier and more efficient for organizations of all sizes.

Historically, verifying the eligibility of dependents enrolled in health plans has presented a challenge for HR departments, often requiring extensive time and resources with traditional methods. In response to this challenge, bswift's new solution simplifies the verification process significantly. It enables employers to rapidly identify ineligible dependents and unlock substantial savings - an appealing prospect given the rising costs associated with health plans.

Key Features of the New Solution

The bswift dependent verification solution is designed to cater to all employers, not just existing bswift clients. This inclusivity means that organizations can now access this powerful tool without needing to purchase full benefits administration services. Here are some standout features of the solution:

• - Fast Implementation: The dependent verification audit can be completed in just 4-6 weeks, providing employers with quick and accurate results.
• - Cost Savings: Organizations can uncover savings ranging from 5%–10% of ineligible dependents, with the potential for savings up to $10,000 per dependent annually.
• - User-Friendly Interface: The solution includes a mobile-friendly portal that allows employees to easily upload necessary verification documents, thanks to its step-by-step guidance. This ensures a hassle-free experience for employees while integrating smoothly with existing systems through single sign-on (SSO).
• - Proven Return on Investment: bswift has reported substantial financial benefits with previous audits, revealing that identifying just 10% of ineligible dependents can result in annual savings of up to $20 million.

The Role of AI in HR Efficiency

bswift’s Executive Vice President of Product, Matt Waldrup, emphasized the importance of combining the power of artificial intelligence with human review. This integration not only enhances accuracy but also streamlines the entire verification process, greatly alleviating the burden on HR teams. With results available shortly after the verification period closes, HR professionals can easily relay insights to company leadership, showcasing their contributions toward cost control and equitable benefits distribution.

“It’s crucial for organizations to manage healthcare costs while ensuring fairness in their benefits programs,” said Waldrup, reflecting bswift’s commitment to innovative solutions that address practical industry challenges.

Conclusion

The launch of this AI-driven dependent verification solution marks a transformative step for employee benefits management. By reducing administrative overhead, enhancing compliance, and promoting equity within benefits offerings, bswift is set to empower organizations to make significant strides in health plan management. Employers looking to streamline their benefits administration processes now have a powerful ally in bswift’s cutting-edge technology.

For further information and to explore what other services bswift offers, you can visit their official website at bswift.com.