SyncHR has partnered with BASIC HR Solutions to help you with your COBRA needs. It is BASIC’s policy to do all they can to make COBRA worry-free. However, there are certain steps you should be aware of that the employer is required to do:
- Notify COBRA Record-keeper of Initial Events (new additions to the health plan).
- Notify COBRA Record-keeper of Qualifying Events within 30 days of event. The qualifying events are:
- Termination of Employment (voluntary or involuntary)
- Reduction of Work Hours
- Employee’s Death
- Divorce or Legal Separation
- Loss of Dependent Status
- Medicare Entitlement
- Bankruptcy of Employer
- Notify COBRA Record-keeper of Unavailability of COBRA Event
- Notify Insurance providers of additions and terminations
- Notify COBRA Record keeper of discrepancies in the monthly summary reports
- Notify COBRA Record keeper of insurance renewal rates and additions/changes of COBRA qualified benefits.
Let our COBRA experts help you avoid costly compliance pitfalls! Can you afford to leave your business vulnerable to penalties up to $100 per day per qualified beneficiary? Click Here for more information!
Back To Resources