Who needs it? If you’re asking…
- Am I legally required to offer COBRA to my employees?
- What are the penalties if I don’t offer COBRA?
- Can I lose my business if COBRA is not administered properly?
We have the answers!
Updates to employee benefit laws occur every day, and COBRA is no exception. Most employers simply cannot keep up with the changes to State and Federal laws. Others are not even aware that COBRA rules and regulations apply to them.
Why do you need it?
- To avoid penalties
- To have trained personnel responsible for administration
- To keep employers in IRS compliance with notifications, record maintenance and premium collection
At IBS, we understand that one small mistake can spell disaster. Every single detail must be handled correctly the first time, every time.
Avoiding the risks involved in keeping compliant with one of the federal government’s most complex laws is an enormous responsibility. IBS can eliminate this time-consuming task from your duties and give you more time to focus on your overall corporate needs.
Our professional staff is dedicated and devoted to making sure that everything is completed in a timely and accurate manner. Don’t increase your payroll budget; we already have the staff.
How IBS does it
IBS handles your benefit plan administration by providing the following services:
- Initial notifications by First Class Mail.
- Qualifying event notifications by First Class Mail with proof of service to qualified beneficiaries for qualifying events.
- Online qualifying event notification and COBRA history detail.
- Certificate of coverage notification: Initial certificate included with qualifying event notice and second certificate following termination of COBRA
- Update notifications to covered employees, COBRA participants and/or qualified beneficiaries as may be required by amendments to the acts and regulations, or changes in covered benefit plans.
- Termination notifications upon non-payment of premium or end of COBRA term.
- Billing, premium collections, and remittance to your company or your insurance carrier. IBS retains any administrative fees added to premium charged by the insurer.
- Monthly confirmation reports to employers of all activities.
- Database provided of qualifying beneficiaries and records of all notices.
- Notification to employers of known changes or updates relating to compliance with the Act.