COBRA Plan Administration and Support for SMBs
What is COBRA?
Your business is obligated to comply with the Consolidated Omnibus Budget Reconciliation Act (COBRA), a complicated federal health care law.
If you employ 20 or more employees and offer group health benefits and a qualified employee leaves your company, works fewer hours, or experiences a qualifying event, COBRA requires you to provide former employees and dependents with the opportunity to continue health benefits coverage for a designated time.
The Pain and Frustration of COBRA
Small to mid-sized businesses waste precious resources like time and money, increase their overhead, and put themselves at financial risk by improperly administering a COBRA plan to their employees. Understanding COBRA’s perplexing rules and calculations is painful for business owners and changes are frustrating to keep up with.
COBRA Mistakes are Expensive
Employers are responsible for COBRA benefits administration mistakes. These mistakes have huge consequences, including:
- IRS fines
- Department of Labor audits and enforcement activities
- Employee lawsuits
The Solution: COBRACompli™ Services Suite
COBRACompli is a COBRA compliance and administration service offered by MyHRConcierge for Small and Medium-Sized Businesses with 20 or more employees.
Protect your business from financial risk with COBRACompli’s Administration and Support services.
With COBRACompli, we handle the administration details of the COBRA plan for your business. MyHRConcierge will:
- Send required correspondence to qualified employees
- Track dates
- Collect premium payments from participants
- Remit premium payments to you
- Communicate enrollments to the carrier
- Monitor eligibility and remove terminated employees from coverage
Trust the COBRACompli team of experts to help you navigate intricate COBRA rules and regulations. We provide:
- Easy-to-understand, precise guidance tailored to your business objectives, workforce, and situation
- Help when you need it
- Convenient, secure online access for you and your participants
- Monitoring of changes in COBRA regulations
- Rapid system and process updates to address COBRA legislative changes
- Reports on all COBRA activity
The COBRACompli Difference
Count on us to help start and run a new COBRA administration program – or manage an existing program. You can rely on COBRACompli to handle the complex details that often drain your time. It frees you to handle what really matters to your business.
COBRACompli delivers a full-featured online experience for you and the participants. You get secure, real-time access to information through an online portal.
For more information about COBRACompli or our other human resources services and support, contact us for a free initial consultation.
Download MyHRConcierge’s COBRACompli Brochure