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The COBRA administration is a program that is used in the companies to keep a track and organize the chronology of events and save reports into an automated integrated system. A COBRA administration manager is a cost effective tool for the easy handling of company’s events and documents and at the same time it maintains the company’s compliance with the federal COBRA Law.
The main task of this integrated program is data storage in a single location and drawing all COBRA notifications from that data. A built-in word processor offers the ability to produce personalized documents that detail a qualified beneficiary’s rights under the law. Once COBRA is excepted, the billing function creates invoices and tracks COBRA premium payments.
What is COBRA?
COBRA is the abbreviated form of Consolidated Omnibus Budget Reconciliation Act, 1985, effective since July 1986. COBRA is basically a law which mandates most of the employers to provide this right to their employees that they can continue their group coverage should they fall in the category of qualified beneficiaries. All companies which have an employee strength of 20 or more are required to comply with this federal law.
Companies which must have COBRA administration
Every company which has a group health plan scheme is supposed to provide the COBRA continuation coverage. However, there are exceptions to the rule. First, are the companies with less than 20 employers and then the second in the list are the church groups and the federal Government who do not fall under the category.
The individuals in an organization who experience a ‘qualifying event’ are called “qualified beneficiaries” or “QBs”.
There are six qualifying events in an organization and these are:
Work hour reduction
Health of employee
Legal separation or divorce
Loss of dependency status
For more info visit: COBRA Administration.
Article source: http://law.ezinemark.com/cobra-administration-4ece646d2a3.html.
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