COBRA is a law that provides health insurance coverage for qualified employees, and their eligible dependents who have lost coverage due to a qualifying event. Qualifying events include employment termination, resignation, reduced hours, divorce, death or other loss of eligibility. An employee has a right to continue insurance coverage under their former employer’s group health plan for up to 18 months, as long as the former employee pays for the cost of coverage.
COBRA regulations are complex and constantly changing, and maintaining compliance is critical. HGI provides full-service COBRA administration to ensure your company stays in compliance. Our service includes:
- Determining eligibility
- Notifying the employee or dependent if a qualifying event occurs
- Assisting COBRA participants with enrollment information as well as instructions for monthly payments
- Sending conversion information to participants (if applicable)
- Maintaining internal eligibility
- Recording, processing and depositing payments daily
- Sending late notices if payments are not received by the due date
- Generating and delivering termination notices when COBRA coverage terminates
- Providing a monthly report with detailed COBRA activity
- Complying with all governmental regulations
To get more information, please call (800) 929-9525 or click here