Although Part D Advisors (PDA) was founded in early 2005 to assist plan sponsors with the Retiree Drug Subsidy (RDS) program, our recently acquired Dependent Eligibility Verification (DEV) division has been in business since 1993!
Our Board of Directors, four longstanding experts in the fields of data management, pharmacy benefits, healthcare consulting and federal health regulations, were seeking to use their industry knowledge and relations to assist Plan Sponsors with expertly navigating all aspects of Medicare’s Retiree Drug Subsidy Program from beginning to end. As the nation’s first Retiree Drug Subsidy specialty vendor, PDA has crafted both a unique process and propriety software in direct alignment with the RDS program requirements to ensure a smooth and successful Retiree Drug Subsidy (reopening or otherwise) application from start to finish.
Today, PDA’s process is the gold standard in RDS administration; combining expert claims aggregation, one-of-a-kind claim matching algorithms with software built specifically to maximize member eligibility and our proprietary prescription drug filter. These tools were developed solely for the RDS program and have allowed PDA to increase the subsidy value for our clients on average between 8%-15%, while providing our clients peace of mind that not a dime was left on the table. Additionally, PDA’s services are completely risk-free, which means we aren’t paid if our clients aren’t paid, a testament to our confidence in our process.
Last, but certainly not least, PDA stores all client data used in the Retiree Drug Subsidy application process for the CMS required 6 year term in case of a CMS audit. This data is stored in an auditable format and is backed by PDA audit support, so Plan Sponsors can rest assured they aren’t on their own if the CMS comes knocking.
In 2019, PDA purchased the Dependent Eligibility Verification assets from Health Decisions, a privately owned, Michigan Corporation founded in 1985 that specializes in post payment and enrollment data auditing services.
With this acquisition, PDA decided to expand our service offering in a manner available to all health plan sponsors, not just those participating in the RDS program. This new service helps plan sponsors to ensure that all dependents covered under their health plan are eligible and collects the documentation necessary to prove it.