How the Presidential Election Might Affect COBRA eligibility...
The polls for the presidential election open in less than two weeks and many of us in the healthcare industry need to forecast and prepare for either outcome. As we all know, the two primary candidates are Hillary Clinton,
Statistics show more employers are finding out the hard way....
If you’re reading this, you are most likely aware that offering continuation coverage under COBRA isn’t a voluntary benefit that employers can either chose to participate in or not. The requirement is a federally mandated law applicable to all employers who employed 20 or more employees for at least 50% of the previous year.
Under the Medicare Modernization Act (MMA), written disclosure should be provided by employers who have policies that are inclusive of prescription drug coverage. This written disclosure requirement is a means to notify Medicare of whether or not the prescription coverage is creditable coverage.
Reminder: 1095 Reporting Deadlines Coming Soon...
The Affordable Care Act requirements for reporting employees and the respective benefit information still apply to all employers with 50 or more full-time or equivalent employees for the preceding calendar year. Both mid-size and large businesses must implement and follow precise protocol for meeting these requirements by the governments' extended deadline.
Providing Retirees Notice of Their COBRA Rights
Did you know that retiring from employment is a COBRA Qualifying Event? The most common term used for this event type is “voluntary termination of employment”. Employers often ask about the requirement to offer COBRA continuation coverage, to individuals whom are terminating their employment due to retirement. These individuals typically become eligible to enroll in the employer-sponsored retirement health plans, after providing an “x” number of years of service. The misconception that retirement offered health plans act as a substitute for COBRA is very common amongst employers.