Is your state workforce agency collecting unemployment insurance overpayments efficiently?
On Point Technology recognizes that the timely recovery of improperly paid unemployment insurance benefits by state workforce agencies is critical to the solvency and integrity of your unemployment insurance trust fund. With the introduction of Recover, a new software product that automates UI overpayment recovery and streamlines collections management, On Point Technology is addressing a large unmet need in the unemployment insurance industry.
Most state collection systems have been put together over many years and are commonly a collection of individual systems developed for separate recovery business functions. This patchwork of collections systems has significant limitations, increases maintenance costs, imposes redundancies, and makes streamlining of workflows and adoption of friendlier technologies increasingly difficult.
On Point Technology offers a better way
On Point Technology's new Recover product offers a better way to handle overpayments recovery. Most UI collections activities today are either simple processes of sending out dunning letters or very staff-intensive processes or the very expensive process of using an outside collections firm. With Recover, you can start maximizing your collections dollars while staying within your administrative budget. Recover is a process designed exclusively for unemployment insurance and uses sophisticated Web technology and business rules-based decision support processing. Recover improves overpayments collections by automating many components of the process, which allows staff resources to be used more efficiently and facilitates much higher recovery rates.
States have good reason to implement Recover
New regulations being discussed at the federal level would lead to intensified scrutiny of collections effectiveness at state workforce agencies. States that do not collect overpayments efficiently could be subject to corrective actions by the Department of Labor (DOL). More importantly, Recover will enable state workforce agencies to increase the administrative dollars available for benefit payment control activities under the new regulations.
Because every state handles collections differently, Recover is highly configurable to accommodate each state's unique statutes, regulations and processes. By defining your business rules you can create the most efficient collections function within your state workforce agency.