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The Cobra Payment Process: Third Parties & Shortfalls

As we wrap up our series on the COBRA Payment Process, in this post we will discuss payments by third parties as well as insignificant payment shortfalls. This wraps up our blog series which featured articles on Grace Periods, Notifications, and Premium Payment Methods. Third Party Payment Plan administrators must accept COBRA premium payments from anyone making payments on behalf …

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The COBRA Payment Process: Premium Payment Methods

Last month we began to discuss the COBRA Payment Process and walked you through Grace Periods and Notifications. This week we will discuss Premium Payment Methods.

The plan administrator must allow payments to be made in monthly installments, but can also permit payments weekly, quarterly, or semi-annually. Each plan must provide an election notice to notify the qualified beneficiary of the monthly premium amount, the premium due date, and the grace period.

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Healthcare Update – Newest Executive Order

On October 12, 2017, the White House released an Executive Order, signed by President Trump, titled “Promoting Healthcare Choice and Competition Across the United States.”

IMPORTANT: The new Executive Order (EO) does not implement any new laws or regulations, but instead directs various federal agencies to explore options relating to association health plans, short term limited-duration coverage (STLDI), and health reimbursement arrangements (HRAs), within the next 60 to 120 days.

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The COBRA Payment Process: Notifications

As we continue our series on The COBRA Payment Process, this week we discuss notifications. The plan administrator must notify the qualified beneficiary of the COBRA premium payment obligations in terms of how much to pay and when payments are due; however, the plan does not have to renotify the qualified beneficiary to make timely payments. Even though plans are …

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The COBRA Payment Process: Grace Periods

The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) allows qualified beneficiaries who lose health benefits due to a qualifying event to continue group health benefits. The COBRA payment process is subject to various rules in terms of grace periods, notification, premium payment methods, and treatment of insignificant shortfalls. In this four-part blog series, we’ll review each of these topics …

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Maximize the Open Enrollment Experience

Fourth quarter is open enrollment season in the employee benefits insurance business. Over 80% of the medical insurance carriers renew their business during this last quarter of the year, and 80% of THAT business renews on December 1st. With so much business renewing at the same time it’s easy for employers and their employees to get lost in the mix. …

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Choosing the Right Benefits Advisor – Glossary of Terms

While searching for the right employee benefits advisor, the jumble of industry acronyms and jargon can quickly become confusing to even the most seasoned human resources professionals. Included below are definitions for some of the more common terms in the employee benefit brokerage world. For more information on any of these or other industry terms, contact us today! ASC: Ambulatory surgery …

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How to Address the Cost of Diabetes in the Workplace

Summer is officially here and while we would like to believe that all of us have gotten healthy and bikini ready by this time of year, the reality is that the majority of our country is not. Specifically, Diabetes has risen to the top of the chronic disease states affecting employees. The CDC reports that more than 29 million Americans are …