Who can benefit from MBA’s full-service COBRA administration?
Our full-service clients vary in size and industry, but they have these characteristics in common: They recognize that COBRA is a complicated law and very difficult to stay in compliance. They understand that efficiency and productivity are achieved by using their employees’ time and resources toward furthering business, not learning to be COBRA experts. They want to minimize exposure to costly lawsuits and legal fees.
- Do you have the time to administer COBRA in house?
- Are you meeting all the requirements of this complicated law?
- Do you have the money to pay for the liability of non compliance?
If your answer is no to any of the above then we have a solution. Our COBRA Administration services will handle all areas of your COBRA compliance.
So what is the cost?
Typically there is a $100 Set up Fee and small monthly fee of $1.85 per employee per month for complete COBRA administration on all lines of eligible coverage. Contact MBA for a specific quote for your company.
What does MBA provide that we can’t do in-house?
Our professional staff is available to answer any of your or your employee’s questions about COBRA. Many companies that sponsor health plans assume that COBRA only requires that if an employee terminates they must be given the right to continue coverage. In reality, COBRA has many requirements that involve notices, timeframes and tracking for as long as 36 months. The continuation rights extend to covered dependents who may lose coverage due to divorce, loss of dependent child status, and other reasons.
What services and features are included with COBRA administration?
Client set-up includes all current covered employees, current COBRA participants and pending individuals, benefit plan set-up, rates and determining notices and letters needed. It also includes developing a custom interface for each client to provide their data to import directly into our tracking system. We provide a comprehensive Administration Guide to walk you through the initial set-up phase as well as the day-to-day operations moving forward. We look for a long-term relationship with open communication to ensure that we are meeting the needs of your company as well as providing you with the compliance required under COBRA.
The administration of COBRA benefits is a time-consuming and yet critical issue for companies with over twenty employees. A poorly executed COBRA plan is a serious potential liability for any employer. The time-sensitive and accurate delivery of required COBRA notifications, consistent administration and follow-up are crucial to your company's reputation and brand image. MBA is a dependable resource for superior COBRA Administration services. We are experts at tracking the notification of terminated employees, recording elections of benefit coverage, receiving and forwarding premium payments to insurance companies and vendors, and the communication of eligibility to carriers, employers, and COBRA participants.
Standard Implementation Services
- Setup scheduled to meet client's needs
- Establish data exchange parameters
- Establish carrier contacts and premium payment/plan parameters
- Establish and upload plan rates and benefits into MBA systems
Standard Customer Service
- Toll-free live customer service support
- Customer service available via e-mail
- Dedicated plan administrator at client level
- Coupons provided for monthly premium remittance
Standard Renewal Service
- Update plan design
- Update plan year benefit information in systems
- Annual benefit and rate change system load
Tags: COBRA Benefit Administration Outsourcing
back to previous page