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COBRA
Administration |
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Are you aware that Federal COBRA
regulations change with each new Federal budget and court decision? Your
organization is expected to know each regulation and react to changes
accordingly and immediately. COBRA compliance is arduous and non-compliance
can be financially devastating. Penalties for noncompliance impose a $100 per
day per violation excise tax for each qualified beneficiary during the
noncompliance period to a maximum of $500,000. If you try to comply with COBRA on
your own, you may have unknowingly fallen into the COBRA non-compliance
arena. In order to avoid costly government penalties and civil lawsuits, you
must study, understand and interpret complex COBRA regulations and administer
them properly. If your organization has limited resources or manpower to
research the law and its updates, chances are, you are not in compliance.
It's not for lack of effort on your part - COBRA noncompliance can be as
minor as the way an envelope is addressed. BCG removes your COBRA
management burden and makes compliance easy. Simply notify us
that a COBRA qualifying event has taken place and we take it from there. To assist our members with the
administrative rigors of COBRA compliance, BCG developed its own COBRA
Management System. Since 1987 it has saved participating members countless
hours of administrative work. The COBRA Management System includes: · Issuance of complete and correct
COBRA Notifications to Qualified Beneficiaries · Preparation and distribution of
COBRA Compliance Updates · Monthly invoicing of COBRA Continued
Individuals · Remitting collected COBRA premiums
and eligibility to respective insurance carriers · Monitoring of secondary qualifying
events · Providing a monthly activity report
and detailed billing statement detailing status of all COBRA qualified
beneficiaries and continued individuals If you are interested in
participating in the COBRA Management System, please contact |