What is an audit?
An audit is a routine check that your insurance provider does on your company to verify that your company still qualifies for small group health insurance.
Not sure if you still qualify? You can find out here:
If you no longer meet the requirements of a small group, your health insurance will be cancelled on your renewal date. If you do not qualify, you do not need to respond to the audit paperwork.
Rest assured, if you still need health insurance, you are now eligible to sign up for individual insurance even if it is outside open enrollment. You can find out more about signing up for individual insurance here:
Why do I need to complete an audit?
If you do still qualify for small group health insurance, your company is required to complete this audit to verify that:
1. Each enrollee is currently employed by the company
2. There is at least one person enrolled on the policy who is not the owner of the company (or the owner's spouse)
Your insurance carrier will send the audit paperwork directly to your mailing address on file about 2 to 3 months before your renewal date. It is always best to complete your audit paperwork as soon as it arrives. To complete your audit, you will need the following documentation:
1. Your most recent quarterly wage report
2. Tax documentation for all owners of the company
You can obtain these documents from your payroll provider or accountant. If you need assistance with your audit paperwork, please reach out to our Support Team at email@example.com.
Note: if you do not respond to your audit your company's insurance policy will be cancelled. SimplyInsured will reach out to your group contact on file via email and by phone if you do not respond to your audit paperwork before your renewal date.