COBRA Compliance and Billing Administration
The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) requires employers to offer continuous health care coverage to employees and their dependents who would otherwise lose their coverage due to termination of employment or other factors.
Any employer with 20 or more employees is a candidate for a COBRA audit. COBRA requirements are strict and fines and penalties for non-compliance are steep. Non-compliance can cost an organization thousands, even hundreds of thousands of dollars, in penalties, fines, medical claims and liability suits.
ProcessWorks Proven Processes
ProcessWorks, Inc. makes it easy for your organization to follow COBRA’s strict and complex rules. Our administrative services can address any number of qualified plans, employees, carriers and different coverages and rates.
- Communication materials cover a wide range of mandated notices. In addition, reminders are sent to participants and qualified beneficiaries regarding their account status and new elections/termination information. Also, don’t forget about ongoing e-news and COBRA regulation changes!
- Administration services focus on accuracy and efficiency from start to finish.
- Funding becomes a simple step when going through ProcessWorks.
- Unlike other COBRA administrators, ProcessWorks bills only for actual services performed, not per employee, per insured, per month. If the 2% administration fee (per employee) is charged, ProcessWorks does not keep it. Rather it is forwarded to you, the employer.
Compliance takes care of all archival data for your company’s compliance.
