COBRA COMPLIANCE & SOLUTIONS
The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) amended ERISA to provide for the continuation of health care coverage for employees and their beneficiaries (for a limited period of time) if certain events would otherwise result in a reduction in benefits. Employers with 20 or more employees may require individuals to pay for COBRA continuation coverage. If so, there are specific action steps & notifications that must be delivered to these employees & beneficiaries within a certain time-frame. Failure to do so could lead to thousands of dollars in daily penalties from the Department of Labor. State continuation or "Mini-COBRA" is also unfamiliar territory with smaller employers. If you are an employer with fewer than 20 employees you may be subject to state continuation and could use our expertise in this area. Benefit Innovations Group is your protection to stay in compliance with COBRA rules and regulations and to make sure your employees and their beneficiaries obtain the benefits they rightfully deserve.
How Benefit Innovations Group Can Help Your Company
Enrolling in BIG COBRA Compliance & Solutions allows us to:
- Provide a real-time client portal that establishes employee and qualified beneficiary records, stores COBRA compliance actions, tracks key COBRA-related dates, electronically archives COBRA notices, and offers a full range of COBRA administration reports.
- Furnish via first-class mail PrimePay COBRA Welcome Packets to currently enrolled COBRA participants and QB's in their 60-day election period at the time of service transition.
- Furnish via first-class mail Initial Rights Notice, HIPAA Special Enrollment Notice and Women's Health and Cancer Right's Enrollment Notice (WHCRA) to newly enrolled participants.
- Furnish via first-class mail Initial Rights Notices to all current enrolled participants at implementation.
- Process weekly COBRA files in PrimePay COBRA's standard format.
- Furnish via first-class mail Specific Rights Notices (e.g., COBRA Election Notices) and HIPAA Certificates to Qualified Beneficiaries and their covered dependents.
- Furnish via first-class mail Enrollment Confirmation Notices, Premium Coupons, Late Payment Notices, Insignificant Partial Payment Notices, Termination Notices, Conversion Notices, Change of Address Notices, Plan Change Notices, Rate Change Notices, Disability Confirmation Notices, Disability Denial Notices, Medicare Notices, Returned Check Notices.
- Maintain Proof of Mail records for all required COBRA notices.
- Track Maximum Coverage Period, First Day of COBRA/Last Day of COBRA, COBRA Enrollment Period, Initial Payment Grace Period, and Subsequent Payment Grace Period for all Qualified Beneficiaries.
- Collect and process COBRA Election forms.
- Provide a real-time participant portal for on-line enrollment, payment processing and account viewing.
- Collect and process COBRA payments (checks, money orders, VISA®/MasterCard®, one-time ACH or recurring ACH).
- Collect and process Disability Extension Requests and Second Qualifying Events.
- Collect and process Benefit Change Requests from Qualified Beneficiaries.
- Notify carrier(s) of COBRA elections, changes and terminations by EDI, online portal, email or fax.
- Remit collected COBRA premiums monthly to client.
- Provide dedicated client support
- Support clients through the annual Open Enrollment period by assisting with mailing lists, updating client's portal with new plans and rates, notifying in COBRA population of new rates, issuing new Payment Coupons, and collecting and processing Annual Enrollment Forms.
- Manage the annual Open Enrollment period for COBRA population, including preparing a COBRA Open Enrollment Form, collecting additional communications to explain benefit plan changes, determining if any required annual notices should be distributed, printing and mailing Open Enrollment packets, collecting and processing Open Enrollment Forms, providing QBs confirmation of election changes, issuing new Payment Coupons, and notifying the carrier or client of participant election changes.
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