If you’re an HR professional or benefits specialist, the Consolidated Omnibus Reconciliation Act of 1985 (aka COBRA) is likely not a new concept to you. Most organizations understand the basics: that employers with 20 employees or more must offer the benefit, that COBRA only applies to health care benefits, that they must notify employees of their COBRA rights at certain times, etc.
The Truth About COBRA
But here’s the truth: Unless understanding COBRA administration is your full-time job or specialty, it can be incredibly difficult to keep track of all notifications, timelines, and nuanced federal regulations. That doesn’t even begin to include keeping track of employee information, as well as state-mandated regulations (which often differ slightly from the federal guidelines)!
What You’ll Learn in this 60-Second Breakdown
In this 60-second video, we break down those reasons why understanding COBRA administration can be so tough to manage, and why bringing on a third-party administrator can save you hours of precious time… not to mention potentially saving your company thousands of dollars should your COBRA administration fall out of compliance.
P.S. Looking for more robust resources to better understand your COBRA duties? Check out our COBRA Academy, an extension of our award-winning Academy Series, where you can find full-length eBooks on compliance and regulations, tips on notification timelines, and more.