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Advanced Benefits - COBRA
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Within the Advanced Benefits module, benefits can be setup and
identified as eligible for COBRA participation. Even if your
Carrier manages COBRA, or you outsource COBRA administration, we
recommend setting up COBRA
benefit identification so you can more easily track what needs to be
sent to your COBRA administrator. The ABC module makes it easy to
setup COBRA benefits along with their related costs at the time you
enter the various Coverage Levels (Employee Only, Employee plus spouse,
Employee plus family, etc..). By default the system will suggest
adding the 2% COBRA premium however, you can always override with zero
or something less than the 2% maximum allowable.
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Qualifying Events
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Flexible qualifying event rules are setup in a central location at the company level
and include events for changes in employee status, changes in
employee age, minimum hours worked, etc.. The system uses
these rules to determine when a COBRA qualifying event has occurred
so it can notify the user of that fact. Naturally, these
notifications apply only to employees who are active in a COBRA
benefit and meet one or more of the qualifying event rules.
Upon notification, the system spells out the qualifying reason and
offers to create a COBRA letter for this employee event.
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Qualifying Letters
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Once a qualifying event has occurred, the system is
prepared to print a qualifying letter. COBRA Qualifying Letters
include the employee plus any covered dependents, the date and
reason for the qualifying event, the various plans for continuing
coverage and their monthly premium costs. These letters make
use of text that you compose which can be selected from a list of
pre-written paragraphs available at the time of printing.
This letter becomes part of the boilerplate COBRA packet provided to
the employee as the result of a qualifying event. For audit
and historical purposes, the system maintains a detailed record of
each COBRA letter and provides for user keyed responses from the
employee.
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Payments and Transactions
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HRtrax accommodates COBRA payments and transactions activity for all
your COBRA participants. The system tracks balances due based
on the COBRA benefit costs for each month of participation, less
COBRA payments recorded, plus or minus any posted adjustments. Display
and/or report one or all COBRA participants in detail up through any
user defined date.
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COBRA Reporting and Output
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In addition to qualifying letters, our COBRA reporting and output
features allow you to create enrollment listings and qualifying data
files that may be used in various ways. List COBRA enrollments
or withdrawals for any From and Thru
period of time. Create a COBRA qualifying events data file that
contains employee, dependent, benefit and qualifying events
data elements. Email this
file to your COBRA administrator, or use Word’s mail merge
option to tailor and populate HRtrax information into a COBRA Word
document.
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