As your COBRA Administrator, here are the tasks we take off your plate
- Send and track the General Notice for all newly hired employees and their spouses
- Process the COBRA Specific Rights Notification for qualified beneficiaries
- Track qualifying event election notices
- Manage and track premium payments from qualified beneficiaries
- Mail open enrollment packets to COBRA participants
- Process open enrollment plan changes
- Mail termination notices
- Provide required HIPAA Certificates
Failure to comply with COBRA can lead to significant financial consequences. The following can arise from a COBRA compliance failure:
- Excise tax penalties can be assessed by the IRS up to $200.00 per day for each day on which a plan fails to comply with COBRA.
- Statutory penalties of $110.00 per day may be recovered by qualified beneficiaries for the plan administrator’s failure to provide notices as required by COBRA.
For a demonstration call 888-858-5115 or email info@bergandonian.com.