What is COBRA?
The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) provides a way for individuals and their families to continue group health benefits provided by their group health plan under circumstances such as voluntary or involuntary job loss, reduced work hours, transition between jobs, death, divorce, and other life events.
Covered employers are required to ensure all employees are notified of their rights under COBRA. Failure to comply with all aspects of COBRA may result in legal implications and financial penalties. IRS penalties include fines of $100 a day, per beneficiary, for noncompliance.
Administering COBRA in compliance with federal mandates requires an enormous investment in time, energy and resources. Our COBRA administration and compliance solution combine expert customer service with the best technology the market offers, allowing us to bring employers and COBRA participants a compliant and easy to use process. Let us take on this difficult and time consuming task for you.
What We Offer:
- An expert service team offering a personalized experience for employers and participants
- Administration of all required notifications, billings, and collections as regulated and enforced by the DOL and the IRS
- Takeover of all existing COBRA participants
- Open enrollment administration for COBRA participants
- Premium Collection: we offer participants a variety of payment methods ranging from checks to credit card to recurring ACH
- State Continuation, where applicable after COBRA expiration
- A 24/7 secure self-service employer portal featuring the ability to enter events, generate reports, and monitor COBRA administration
- 24/7 online account access for COBRA participants
- A variety of options for employers to submit events, from the employer portal, to EDI file feeds, to integration with vendors like Employee Navigator.