It is our purpose to heighten awareness of COBRA policies and procedures in order to contend with the high-turnover rate indicative of the retail industry. Too many times, lags in basic employment processing for terminations and status changes require unnecessary costs and significant exposure for employers. In the high-turnover market, these risks and costs are compounded.
Newport Beach, CA (PRWEB) October 8, 2009
Secova, Inc. a leading provider of human resource and benefits management services, announced today that Jim Kelly, Vice President of Business Development and Karen Kerns, COBRA Unit Account Executive for Secova have been asked to speak at the National Retail Federation’s Human Resources Executives Summit . Secova will be presenting The Practical Considerations to COBRA Administration to the retail industry’s most influential senior level HR and employment law executives. The session will be held on Tuesday the 13th of October, 2009 at 3:00 PM at the Omni Hotel in San Diego, CA.
Secova will begin their discussion briefing the history of COBRA, discussing the ARRA subsidy requirements which began February 17, 2009 and the prompt actions that were required to quickly implement and maintain compliance. Clarification from the department of labor, treasury and health and human services department will be provided addressing new potential legislation and rulings affecting COBRA and the remaining term of the ARRA continuant eligibility application deadline of December 31, 2009 and the administrative run-out requirements through September 30, 2010.
Managing the intricacies of COBRA administration is complex, and non-compliance can be costly. Employers must hold themselves accountable for properly handling their COBRA obligations. Staying current with the regulatory and enforcement provisions of COBRA and the administrative programs are necessary to better position high turnover employers.
“It is our purpose to heighten awareness of COBRA policies and procedures in order to contend with the high-turnover rate indicative of the retail industry. Too many times, lags in basic employment processing for terminations and status changes require unnecessary costs and significant exposure for employers. In the high-turnover market, these risks and costs are compounded.” said Sanjeev Kurup, Vice President of US Operations from Secova. “HR personnel are now tasked with designing complex COBRA contribution structures, tracking and managing numerous termination transactions, all of which have hidden costs that typically are not budgeted.”
Changing rules, regulations and court cases make COBRA extremely complex. The improper design, compliance and administration of COBRA can have costly results for employers with high employee turnover. Secova urges all leading retail HR executives to supply the necessary learning tools to facilitate timely COBRA administration and proactively establish procedures that provide their businesses a cost-effective and efficient way to stay compliant.
About Secova: Secova Inc. is a leading HR and Benefits Management Services company that delivers customized "Value-Sourced" solutions designed to enhance services and reduce operating costs. Our mission is to help employers control and drive down the cost of delivering Human Resources & Employee Benefit Services. Over 30% of Secova's client base is ranked among 2008's Fortune 500 List and contains 10% of the companies listed within the Dow Jones Industrial Average.
Secova's customized and flexible benefits administration solutions are designed to complement your company's overall benefit administration strategies to help lower costs and improve service quality while enhancing timeliness, accuracy and responsiveness to your staff and your employees. For more information, visit Secova's website.
This press release was distributed through PR Web by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company listed above.