COBRA management can be time-consuming and stressful. The laws related to COBRA are complicated, and non-compliance can bring about serious repercussions. Unlike many other COBRA administration services, Businessolver’s COBRA services are provided from the same system that manages your employee benefits program. No files or integrations needed.
Businessolver’s COBRA management services consists of all activities including compliance, documentation, communication, and payment collection. This is all done through our single-source platform, Benefitsolver, which means your COBRA information will be in the same place as your enrollment and eligibility data. This provides many efficiencies including:
- Complete tracking of an employee’s lifecycle: Benefitsolver tracks the lifecycle of an employee from hire to retire. This means we are there from initial enrollment and life events, to termination and COBRA administration. With that, the historical information and documentation around each event is stored and tracked on the employee’s record. With the appropriate administrator access rights, you can view a COBRA participant’s critical COBRA-related information at a glance.
- Automatic Processing: COBRA notices are automatically triggered as a result of scenarios when benefits are ended. When the system receives information that an employee is eligible for coverage, the COBRA Initial Rights Notice is automatically generated and mailed. When coverage is terminated or an employee becomes ineligible, and the participant is eligible for COBRA, a Qualifying Event Notice is automatically generated and mailed.
- Online Enrollment: Leaving a job to start a new chapter in life is stressful, no matter the circumstance surrounding one’s departure. So when an employee receives the option to enroll in COBRA, the idea of filling out a bunch of paperwork can be overwhelming. That’s why we have made enrolling in COBRA easier than ever, with online enrollment in Benefitsolver. Employees simply select the option to enroll, choose their coverages and provide payment. No more paperwork, no more hassle.
As part of our standard COBRA service offering, Businessolver sends out the following documents:
- COBRA initial rights notice
- Qualifying events notice
- Monthly invoice/coupon book
Additional COBRA documentation can also be sent based upon your needs, additional fulfillment fees would apply. Additional documentation may include:
- Short/late premium payment notice
- Failure to make initial or regular payment notice
- Termination notice
- COBRA expiration notice
- Annual enrollment information
- Premium rate change notification
- Takeover/conversion notice
More than 8 in 10 Businessolver clients use our COBRA administration services. They trust that their employees’ valuable COBRA data is protected and that our COBRA administration services provide the compliance and accuracy they need.