COBRA administration
Vantage Benefits provides employers with a COBRA compliance solution – not just administration. We help employers and qualified beneficiaries navigate through the often confusing COBRA regulations.Under COBRA, employees and their covered family members can elect a temporary extension of their health benefits in certain instances where their group coverage would normally end. This extended coverage can last from 18 to 36 months, depending on the event. For employers with 20 or more employees, complying with COBRA regulations can be an administrative burden. VBA can help!
Comprehensive COBRA Services
- Produce and send initial notification letters to all employees who become eligible after VBA begins administration.
- Produce and send Qualifying Event Notifications, which include general information about COBRA, an enrollment form, a premium computation form and a HIPAA certificate.
- Accept payments directly from the qualified beneficiary
- Reconcile beneficiary payments and termination credits with carriers invoice.
- Work directly with your insurance companies to report eligibility, changes and terminations.
- Generate detailed monthly eligibility and premium reports.
- Provide Web Access: Clients can report COBRA administration tasks to us via the web. No more forms to complete and fax or mail! Participants can access the status of their COBRA continuation coverage, and payment information.
COBRA Compliance Standards
VBA administers COBRA with strict adherence to COBRA regulations. Our COBRA administrators are all trained and certified COBRA specialists. Each client receives a COBRA Administration Manual that clearly outlines each process, timing and requirements.
COBRA Reporting
VBA manages the COBRA administration of qualified participants and their beneficiaries for employers. A monthly activity report along with a consolidated COBRA premium check is provided to you. This reporting package includes:
- Payment Detail – COBRA premium payments received and posted
- COBRA Participants Listing – Participants and their current coverage
- COBRA Activity Report – All Qualifying Event Notifications and General (Initial) Notices processed
- COBRA Terminations – COBRA participants terminated during the reporting period
