4min
Easy, stress-free COBRA compliance? Our partners and clients say so. Find out what they love about our COBRA Administration solution.
As many HR and benefits professionals can attest, COBRA administration can be a headache for both companies and participants. Reporting requirements, multiple deadlines, and penalties for noncompliance can also cause companies to run afoul of several COBRA administration errors, ranging from failure to offer COBRA to eligible participants within the required timeframe to charging incorrect premiums. To address these risks, we’ve developed a technology solution that makes COBRA enrollment a breeze for companies and employees. In fact, since we launched our COBRA software solution, clients have been raving about its ease of use, self-service features, and streamlined process that ensures full compliance with COBRA regulations.
Here are 3 things that excite our clients about our COBRA administration software and service:
Two-Click COBRA Management
When an employee has a qualifying event that triggers COBRA eligibility, our clients get the COBRA enrollment process rolling in just two clicks — one to confirm an employee’s qualifying event and another to approve COBRA enrollment. From there, we do the rest. Instead of benefits administrators having to print and mail customized COBRA forms and track participant premium payments, we handle all that, in keeping with all applicable federal and state regulatory requirements. In addition, clients love that they can approve/reject employee qualifying events via email, making for a smooth information delivery experience for both the company and COBRA participants. Toni Shively, an HR Implementations Specialist from Axiom Human Resource Solutions (and one of our partners), says, “I love the ease of use. Our clients can be as hands-off as they like with their COBRA administration.”
Worry-Free Participant Self-Service
With penalties for COBRA non-compliance ranging from $100/day per employee to $500,000, every employer wants to ensure timely communication of eligibility information, premiums, and payment schedules to COBRA participants. Our self-service portal brings all that information together in one place for COBRA participants. Using the portal, participants have access to COBRA plan information, coverage details, and premium payment history. They can even update payment details and personal information. HR and payroll service provider - BeyondPay - offers our COBRA Administration solution to their clients, and says that, “There’s no double entry of information and compliance schedules can be kept automatically.”
Smart Communication and Reporting
With our COBRA Administration software solution, clients can follow participants through their entire COBRA lifecycle and enjoy a fully transparent view of every aspect of their COBRA program. Clients benefit from receiving automatic notification of COBRA participant enrollments and terminations, and can also run reports that detail COBRA reinstatements, payment remittances, and much more. Many clients remark that our COBRA Administration solution keeps everyone — HR and benefits administrators, participants, and carriers — on the same page at all times, making for a smooth, hassle-free COBRA experience for all. Toni Shively, says, “The EverythingBenefits team is always very responsive and helpful. I truly feel that I can trust the administrative process going on in the back-end.”
Effective COBRA administration requires full compliance with a range of IRS, ERISA, and Department of Labor regulations, and the penalties for noncompliance can be high. EverythingBenefits’ COBRA Administration solution helps companies offer COBRA coverage to employees while maintaining compliance with federal and state regulations. Experience the COBRA Administration software and service valued by our many clients and contact us to learn more.
Contact our team at bizdev@everythingbenefits.com to schedule a demo.
