|
Our system is compliant with all final COBRA
regulations.
-
Initial COBRA Notices
- Qualifying Event Notices
- Coupon
Billing
- Premium Collection
- Open
Enrollment Notices
- Rate
Change Notices
- End of
Eligibility Notice
- Monthly Remittal of Premiums
- HIPAA
Certificates
- AND
MORE . . .
All
employers must offer employees and their dependents continuation of coverage
when a qualifying event occurs. COBRA regulations are applicable to employers
of 20 or more employees, while those with under 20 employees must follow very
similar regulations under the Connecticut State Continuation of Coverage.
Employers are required to provide initial notifications which describes their
rights under COBRA to employees upon coverage under a group health plan, an
aspect of the law which is often overlooked.
All of the time frames for
elections, payments, and coverage eligibility must be closely followed, or the
employer runs the risk of excise taxes and ERISA penalties. Courts may also
award money based on claim costs, attorneys fees and other expenses. Often, the
employee who sues for noncompliance with COBRA is one who has had an emergency
and may have hundreds of thousands of dollars in outstanding
claims.
"Failure
to comply with COBRA regulations could result in an excise tax of up to $200
per day per employee, in some cases up to $500,000 per year. ERISA penalties of
up to $100 per day per qualified beneficiary could also apply. There are also
penalties for not complying with HIPAA . . ."
COBRA/HIPAA
Administration
From initial notices
to billing to HIPAA certificates, Benefits Plus can handle all of the complex
requirements of the ever-changing COBRA regulations. This can greatly reduce
your chance of ever having any costly legal action from former employees for
non-compliance.
Note: The information contained here is a summary only.
Please refer to the actual COBRA and HIPAA regulations.
Contact us for
more information. |
