That's how HR professionals and business owners describe COBRA compliance. But once they make the decision to turn COBRA administration over to Liberty that all
changes. Suddenly it becomes quick, easy, intelligent and secure - everything you want and need. Most importantly, by outsourcing your COBRA compliance program to Liberty, you protect your company from potentially devastating COBRA failures.
Our COBRA solution provides employers with a safe harbor in meeting COBRA regulations.
Liberty Online Administration System Provides:
» COBRA insurance notices.
» Online COBRA insurance notification.
» COBRA insurance notice confirmation to the employer.
» Monthly premium coupons.
» Premium collection.
» COBRA health insurance enrollment with carrier.
» Terminations of COBRA benefit coverage.
» COBRA benefit training.
» Communication directly with COBRA insurance participants.
» Open enrollment Services for COBRA health insurance.
* New Notice Rules Initial Notice The plan administrator of an employer-provided group health plan must send an initial notice to all covered employees and their qualify dependents of their rights to elect COBRA coverage. COBRA's statutory provisions do not specify a period to provide the initial COBRA notice. The statute indicates the initial notice must be provided to the covered employee and spouse within 90 days after commencement of coverage under the plan. A special exception to the 90-day rule exists if a qualifying event occurs within the first 90 days of group health coverage and the plan administrator has not yet provided the initial notice to the employee and spouse. If a person has a qualifying event prior to the 90 day expiration the qualifying event notice will be deemed to comply.
* Qualifying Event Notices
An employer could have a full 44 days to provide a
qualifying event notice to qualified beneficiaries, it
is still to the employer's advantage to provide the
notice as soon as possible after the qualifying event.
If that notice is delayed, the
qualified
beneficiary may have a longer period to retroactively
elect COBRA coverage and expose the plan to adverse
selection risk. The Content requirements for a
Qualifying Event notice are:
Name of the plan under which COBRA coverage is available; and the name, address and telephone number of the party responsible under the plan for COBRA administration.
Identification of the qualifying event
Identification of each qualified beneficiary who is recognized by the plan as being entitled to elect COBRA coverage regarding the qualifying event, and the date on which coverage under the plan will terminate
