Insurance Services
Consolidated Omnibus Budget Reconciliation Act (COBRA) Administration
Businesses today have many processes that don’t add to their bottom-line, but still are very important. One such process is COBRA administration.
For efficient COBRA administration, you require expertise, manpower, time, and energy. And, for these reasons, COBRA administration is often too complex and doesn’t add to your bottom-line which is why so many companies today choose to outsource COBRA administration to experts.
What is COBRA?
COBRA is an acronym for the Consolidated Omnibus Budget Reconciliation Act, which became a law in 1986.
The law allows temporary extension of group health coverage to individuals, who otherwise would lose their health coverage. COBRA gives employees, retirees, spouses, and dependent children the right to temporary continuation of their health coverage at group rates when the coverage is lost due to certain specific events.
Do companies need to offer COBRA?
Generally, group health plans maintained by private-sector companies with 20 or more employees are subjected to COBRA rules.
Advantages of outsourcing COBRA administration
The most obvious advantage of outsourcing COBRA administration to experts is that it ensures efficient COBRA administration and increases your chance of maintaining 100% COBRA compliance.
Many companies don’t have the required expertise required for proper COBRA compliance and administration. While, some companies may have the required expertise, they may not be willing to spend man-hours required for COBRA administration.
By outsourcing COBRA administration, businesses not only save money, but also time.
How can Advantage SBS help you?
Our COBRA compliance and administration take cares of all the aspects of COBRA administration. Our experts make COBRA administration a painless and seamless process and ensure 100% COBRA compliance.
To learn more about COBRA Administration services provided by Advantage SBS or to speak with a representative, contact us today at (888) 762-2075 or complete our online quote request form here.
