NEW YORK, Feb. 14, 2018 /PRNewswire-iReach/
Clarity Benefit Solutions provides three ways to simplify the COBRA administration process for employers.
COBRA administration can be a frustrating, time-consuming process. In addition to navigating through the complex processes and trying to complete the seemingly endless amounts of paperwork, there is also the possibility of angry terminated employees to contend with. Partnering with a COBRA administration company can simplify the entire process. Here are six ways the COBRA process is simplified for employers who partner with a COBRA administration company.
- Compliance is automated. COBRA requirements are much more complicated than most employers realize. Any violations can result in costly penalties and liabilities. Plus, Employee Retirement Income Security Act (ERISA) regulations now allow for personal liability to be imposed on the employer for COBRA violations. COBRA administration company's such as Clarity's COBRA web-based software streamlines compliance with automated notifications about important life event changes, qualifying events, pending payments, and account updates.
- Tasks are effectively managed. COBRA administration companies make COBRA administration seamless by taking over the following tasks: sending send qualifying event notifications via first-class mail with proof-of-mailing, process COBRA elections once completed by client/qualified beneficiary, validate all COBRA elections, bill and collect premiums monthly, follow bad address process for undeliverable mail, provide collections for bad checks, send termination fees and conversion letters, process participant life status events, manage ongoing validation of COBRA participant eligibility, and validate and process disability extensions. A COBRA administration company serve as a professional buffer between employers and previous employees by handling communication, billing, and collection for COBRA-active employees.
- Accurate records are maintained. A COBRA administration company will provide all COBRA participants with monthly invoices that clearly note the amount that is due, as well as the end date of the 30-day grace period. The COBRA administration company will also ensure that COBRA participants do not send in late payments; and emphasize that ex-employees who want to keep their COBRA benefits pay on time. Payment reminders can be sent via email, text, and automated messages.
About Clarity Benefit Solutions: Clarity Benefit Solutions provides technology that makes the health insurance plan selection process fast, easy, and straightforward. For over two decades, we have provided clients with industry-leading technology, compliance, and exceptional customer service. Our offering is designed to save time and lower the costs of managing benefits while also promoting employee self-service and automated ACA compliance.
Media Contact: Calvin Clark, Clarity Benefit Solutions, 7324288282, email@example.com
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SOURCE Clarity Benefit Solutions