The document provides a summary of the top 10 mistakes employers make regarding COBRA and how to avoid them. It discusses mistakes like assuming COBRA doesn't apply to small employers or certain health plans, not understanding qualifying events and beneficiaries, failing to provide required notices, not following reasonable procedures, providing incorrect information in notices, not maintaining proper documentation, and bad timing of coverage periods. The document emphasizes the importance of understanding COBRA requirements, establishing procedures, sending timely and accurate notices, properly documenting actions, and avoiding mistakes that could result in penalties.
10 Cobra mistakes to Avoid. Accurate Insurance Solutions Tampa, Fl.Brian Brady
Accurate Insurance Solutions tips for avoiding Cobra penalties and other risks, such as lawsuits to compel coverage and adverse selection of COBRA coverage. 813-994-4114 o
Model COBRA Continuation Coverage General NoticeJason White, CBC
This document provides a model general notice of COBRA continuation coverage rights that plan administrators can use to inform individuals of their rights under the Consolidated Omnibus Budget Reconciliation Act (COBRA) when their group health plan coverage would otherwise end due to certain qualifying events. The notice explains what COBRA continuation coverage is, when it becomes available, how to elect it, how long it lasts, and how it works. It also notes that individuals may have other coverage options besides COBRA continuation coverage.
The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) requires that employers provide former employees and dependents who lose group health benefits with an opportunity to continue group health insurance coverage for a limited period of time. Compliance with the complex rules regarding COBRA coverage can be difficult and mistakes can be costly. Penalties for non-compliance can include IRS excise taxes and ERISA statutory fines.
This Legislative Brief provides practical information and tips for avoiding these penalties and other risks, such as lawsuits to compel coverage and adverse selection of COBRA coverage.
Compliance is defined as “a state of being in accordance with established guidelines, specifications or legislation.” There’s a perception that COBRA compliance is as easy as mailing a couple of notices. However, proper COBRA
compliance entails many required notices and tracking numerous time frames.
Group health plans can require qualified beneficiaries to pay for COBRA continuation coverage, although plan sponsors can choose to provide continuation coverage at reduced or no cost.
The maximum amount charged to qualified beneficiaries cannot exceed 102 percent of the plan’s total cost of coverage. The cost amount is based on the cost of coverage for similarly situated individuals who have not incurred a qualifying event. For qualified beneficiaries receiving the 11-month disability extension, the premium for those additional months may be increased to 150 percent of the plan's total cost of coverage...
Compliance is defined as “a state of being in accordance with established guidelines, specifications or legislation.” There’s a perception that COBRA compliance is as easy as mailing a couple of notices. However, proper COBRA
compliance entails many required notices and tracking numerous time frames. The notice requirements and the work related to them are endless. Let’s review what one little compliance regulation requires.
This webinar will covers:
• What is COBRA?
• When does it need to be provided?
• What are the triggering events?
• How long does it have to be provided?
• What are notice requirements?
• Payment requirements
59828 employee benefits compliance checklist for small employers 021312Jerry Whitaker CIC,CRIS
This document provides a compliance checklist for various federal employee benefit laws applicable to small employers with 50 or fewer employees. It lists the key laws, including whether they apply to small employers or have exceptions. For those that apply, it summarizes the main requirements and any associated notices that must be provided to employees. Some major laws discussed include the Affordable Care Act, COBRA, HIPAA, FMLA, ERISA and COBRA. The document is intended to help small employers understand and comply with federal benefit plan regulations.
10 Cobra mistakes to Avoid. Accurate Insurance Solutions Tampa, Fl.Brian Brady
Accurate Insurance Solutions tips for avoiding Cobra penalties and other risks, such as lawsuits to compel coverage and adverse selection of COBRA coverage. 813-994-4114 o
Model COBRA Continuation Coverage General NoticeJason White, CBC
This document provides a model general notice of COBRA continuation coverage rights that plan administrators can use to inform individuals of their rights under the Consolidated Omnibus Budget Reconciliation Act (COBRA) when their group health plan coverage would otherwise end due to certain qualifying events. The notice explains what COBRA continuation coverage is, when it becomes available, how to elect it, how long it lasts, and how it works. It also notes that individuals may have other coverage options besides COBRA continuation coverage.
The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) requires that employers provide former employees and dependents who lose group health benefits with an opportunity to continue group health insurance coverage for a limited period of time. Compliance with the complex rules regarding COBRA coverage can be difficult and mistakes can be costly. Penalties for non-compliance can include IRS excise taxes and ERISA statutory fines.
This Legislative Brief provides practical information and tips for avoiding these penalties and other risks, such as lawsuits to compel coverage and adverse selection of COBRA coverage.
Compliance is defined as “a state of being in accordance with established guidelines, specifications or legislation.” There’s a perception that COBRA compliance is as easy as mailing a couple of notices. However, proper COBRA
compliance entails many required notices and tracking numerous time frames.
Group health plans can require qualified beneficiaries to pay for COBRA continuation coverage, although plan sponsors can choose to provide continuation coverage at reduced or no cost.
The maximum amount charged to qualified beneficiaries cannot exceed 102 percent of the plan’s total cost of coverage. The cost amount is based on the cost of coverage for similarly situated individuals who have not incurred a qualifying event. For qualified beneficiaries receiving the 11-month disability extension, the premium for those additional months may be increased to 150 percent of the plan's total cost of coverage...
Compliance is defined as “a state of being in accordance with established guidelines, specifications or legislation.” There’s a perception that COBRA compliance is as easy as mailing a couple of notices. However, proper COBRA
compliance entails many required notices and tracking numerous time frames. The notice requirements and the work related to them are endless. Let’s review what one little compliance regulation requires.
This webinar will covers:
• What is COBRA?
• When does it need to be provided?
• What are the triggering events?
• How long does it have to be provided?
• What are notice requirements?
• Payment requirements
59828 employee benefits compliance checklist for small employers 021312Jerry Whitaker CIC,CRIS
This document provides a compliance checklist for various federal employee benefit laws applicable to small employers with 50 or fewer employees. It lists the key laws, including whether they apply to small employers or have exceptions. For those that apply, it summarizes the main requirements and any associated notices that must be provided to employees. Some major laws discussed include the Affordable Care Act, COBRA, HIPAA, FMLA, ERISA and COBRA. The document is intended to help small employers understand and comply with federal benefit plan regulations.
Webinar | COBRA Pitfalls: Common Mistakes and How to Avoid Thembenefitexpress
Leaving the organization isn't the end of the benefits cycle for employees. This webinar focuses on how to avoid one of the most common compliance pitfalls in benefits ... COBRA administration.
Some of the top takeaways were:
• The basics of successful COBRA administration
• Required notices associated with COBRA coverage
• How Medicare interacts with COBRA for employees and dependents
• Penalties for noncompliance
Smooth and successful off-boarding of departing employees is as important as well-planned on-boarding of new hires. Log on to your roadmap for a smooth ride into COBRA compliance.
This document discusses how to comply with Governmental Accounting Standards Board (GASB) statements 16, 27, 45, and 47 regarding accounting for employee benefits. It provides an overview of each statement and how they relate to compensated absences, pensions, other post-employment benefits (OPEB), and termination benefits. It then offers recommendations for districts to monitor requirements, measure benefit promises accurately, understand their options within the GASB framework, and potentially adjust benefits or funding to reduce costs while maintaining compliance.
CBIZ Matrix & Health Reform Bulletin 40 ACA Updates: CLASS Act Suspended, Inc...CBIZ, Inc.
CBIZ HEALTH REFORM MATRIX
A TOOL FOR UNDERSTANDING THE IMPACT OF HEALTH CARE REFORM
Patient Protection and Affordable Care Act (Public Law 111-148, Enacted March 23, 2010) and the
Health Care and Education Reconciliation Act (Public Law 111-152, enacted March 30, 2010)
For more information, visit http://www.cbiz.com/benefits/
This document contains questions and proposed answers from a Department of Labor staff meeting on employee benefits. Question 4 asks if a pension plan can refuse to qualify a domestic relations order (DRO) that would require the plan to pay more than it otherwise would. The proposed answer states that the plan can refuse because allowing benefits to be paid before the earliest retirement age would require paying more than the plan is obligated to pay under law. The DRO should name the alternate payee as the surviving spouse to avoid this issue after the earliest retirement age is reached.
What’s in Your Rule Book? A Common Sense Approach to Plan Documentation.CBIZ, Inc.
Two recent eligibility opportunities, one created as a result of a US Supreme Court decision and the other enacted by law, are a wake-up call for plan sponsors of welfare and pension benefit plans to review and update, as appropriate, the terms of their plans. As is well known by now, the Supreme Court’s ruling in United States v. Windsor1 extended federal tax and benefit rights to couples in a same-sex marriage. In addition, the Affordable Care Act (ACA) incents employers to extend
eligibility to their workforce or risk an excise tax penalty. Plan sponsors should review their plan documents in light of these recent developments to ensure that the plan language is current and compliant.
Health Care Reform Legislative Brief
2013 Compliance Checklist
In light of the Supreme Court's June 28, 2012, decision to uphold the health care reform law, or Affordable Care Act (ACA), employers must continue to comply with ACA mandates that are currently in effect.
The document summarizes provisions of the American Recovery and Reinvestment Act of 2009 regarding subsidies for COBRA health insurance premiums. It provides details on eligibility requirements, the amount of subsidies, how subsidies are administered and reimbursed, notification requirements, and income limits for receiving subsidies. The key points are that the Act provides subsidies of 65% of COBRA premiums for involuntarily terminated workers for up to 9 months, subsidies are claimed as a tax credit by employers/plans, and certain income thresholds apply for subsidy eligibility.
This document provides an overview and summary of the benefits available through an employee group benefits plan sponsored by Automobile Solutions Americas Inc. for their employees. Key details include medical, dental, life insurance, and other coverage. It outlines things like eligibility, how to submit claims, and contacts for additional assistance or questions. The plan is administered by Manulife Financial and provides employees with financial security and support in the event of illnesses, injuries, or other unforeseen circumstances.
AALU Washington Report: Death Benefit Only Plans - Fulcrum Partners LLCFulcrum Partners LLC
Death Benefit Only plans can offer a simple and flexible option for providing benefits to attract or retain key employees. Learn more about who DBO plans benefit and how to implement them, as well as taxation benefits and concerns in this AALU Washington Report published by Fulcrum Partners LLC.
The IRS has issued guidance on implementing the $2,500 limit on employees' pre-tax contributions to health flexible spending accounts (FSAs) as required by the 2010 health care reform law. Key points include: the limit applies on a plan year basis for cafeteria plans beginning after 2012; employers have until 2014 to amend plans to reflect the limit but must administer plans in accordance with it starting in 2013; and relief is provided for excess contributions due to reasonable mistakes.
How Medicare Affects Employer Health Coveragebenefitexpress
This presentation reviews the topic of Medicare and how it can affect Employers Health Coverage offerings, including: employer secondary rules, COBRA, notice requirements, and reporting requirements.
This document summarizes an employee benefits plan from ECOH Management Inc. It outlines the company's group policy with Manulife Financial to provide medical, dental, life, disability, and other insurance benefits to employees. Key benefits include health and dental coverage, an extended health care plan, life and accidental death insurance, long-term disability coverage, and access to health resources through Manulife Financial.
This document provides model language for a separation agreement to divide a defined benefit retirement plan between spouses as part of a divorce settlement. It outlines 11 sections addressing how to calculate and distribute the marital portion of benefits to the alternate payee (former spouse), including survivor benefits, cost of living adjustments, early retirement subsidies, and ensuring qualified domestic relations order (QDRO) approval. It stresses incorporating the QDRO language directly into the separation agreement to avoid future confusion and issues with the plan administrator.
This document provides an overview of accounting for various types of employee benefits, including wages and salaries, compensated absences (such as annual leave, sick leave, long service leave), profit sharing and bonus plans, and termination benefits. It discusses the recognition, measurement, and disclosure requirements of AASB 119 Employee Benefits for each type of benefit.
With Department of Labor audits on the rise, this presentation reviews all the requirements under ERISA. This includes the requirements for plan documents, disclosures and reporting.
This issue of Retirement Plan News includes articles on the following: Post-severance compensation revisited, The fiduciary role and Tibble v. Edison, Bankruptcy and retirement plans.
This webinar covers a basic review of the requirements under ERISA, including: what is an ERISA benefit, what documentation requirements have to be met, what disclosure requirements have to be met, what reporting requirements need to be met, what is a fiduciary, and what are other requirements.
The document discusses Fannie Mae, a government-sponsored enterprise that works to strengthen the U.S. housing market. It provides an overview of Fannie Mae's history and role in the mortgage market. It also discusses Fannie Mae's reputation after receiving a government bailout during the financial crisis and recommends ways for the company to improve its public image and communications, such as being more transparent about its use of bailout funds and regularly updating its social media presence.
The King Cobra Cervical Plate is a spinal implant designed by Eminent Spine, LLC to stabilize the cervical spine. It features a Texas twister screw design that prevents screw migration and comes in plate sizes from 1 to 4 levels. The plate has a low profile thickness of 2.2mm and uses conically shaped screws that rotate 14 degrees to reduce risks of dysphagia.
Webinar | COBRA Pitfalls: Common Mistakes and How to Avoid Thembenefitexpress
Leaving the organization isn't the end of the benefits cycle for employees. This webinar focuses on how to avoid one of the most common compliance pitfalls in benefits ... COBRA administration.
Some of the top takeaways were:
• The basics of successful COBRA administration
• Required notices associated with COBRA coverage
• How Medicare interacts with COBRA for employees and dependents
• Penalties for noncompliance
Smooth and successful off-boarding of departing employees is as important as well-planned on-boarding of new hires. Log on to your roadmap for a smooth ride into COBRA compliance.
This document discusses how to comply with Governmental Accounting Standards Board (GASB) statements 16, 27, 45, and 47 regarding accounting for employee benefits. It provides an overview of each statement and how they relate to compensated absences, pensions, other post-employment benefits (OPEB), and termination benefits. It then offers recommendations for districts to monitor requirements, measure benefit promises accurately, understand their options within the GASB framework, and potentially adjust benefits or funding to reduce costs while maintaining compliance.
CBIZ Matrix & Health Reform Bulletin 40 ACA Updates: CLASS Act Suspended, Inc...CBIZ, Inc.
CBIZ HEALTH REFORM MATRIX
A TOOL FOR UNDERSTANDING THE IMPACT OF HEALTH CARE REFORM
Patient Protection and Affordable Care Act (Public Law 111-148, Enacted March 23, 2010) and the
Health Care and Education Reconciliation Act (Public Law 111-152, enacted March 30, 2010)
For more information, visit http://www.cbiz.com/benefits/
This document contains questions and proposed answers from a Department of Labor staff meeting on employee benefits. Question 4 asks if a pension plan can refuse to qualify a domestic relations order (DRO) that would require the plan to pay more than it otherwise would. The proposed answer states that the plan can refuse because allowing benefits to be paid before the earliest retirement age would require paying more than the plan is obligated to pay under law. The DRO should name the alternate payee as the surviving spouse to avoid this issue after the earliest retirement age is reached.
What’s in Your Rule Book? A Common Sense Approach to Plan Documentation.CBIZ, Inc.
Two recent eligibility opportunities, one created as a result of a US Supreme Court decision and the other enacted by law, are a wake-up call for plan sponsors of welfare and pension benefit plans to review and update, as appropriate, the terms of their plans. As is well known by now, the Supreme Court’s ruling in United States v. Windsor1 extended federal tax and benefit rights to couples in a same-sex marriage. In addition, the Affordable Care Act (ACA) incents employers to extend
eligibility to their workforce or risk an excise tax penalty. Plan sponsors should review their plan documents in light of these recent developments to ensure that the plan language is current and compliant.
Health Care Reform Legislative Brief
2013 Compliance Checklist
In light of the Supreme Court's June 28, 2012, decision to uphold the health care reform law, or Affordable Care Act (ACA), employers must continue to comply with ACA mandates that are currently in effect.
The document summarizes provisions of the American Recovery and Reinvestment Act of 2009 regarding subsidies for COBRA health insurance premiums. It provides details on eligibility requirements, the amount of subsidies, how subsidies are administered and reimbursed, notification requirements, and income limits for receiving subsidies. The key points are that the Act provides subsidies of 65% of COBRA premiums for involuntarily terminated workers for up to 9 months, subsidies are claimed as a tax credit by employers/plans, and certain income thresholds apply for subsidy eligibility.
This document provides an overview and summary of the benefits available through an employee group benefits plan sponsored by Automobile Solutions Americas Inc. for their employees. Key details include medical, dental, life insurance, and other coverage. It outlines things like eligibility, how to submit claims, and contacts for additional assistance or questions. The plan is administered by Manulife Financial and provides employees with financial security and support in the event of illnesses, injuries, or other unforeseen circumstances.
AALU Washington Report: Death Benefit Only Plans - Fulcrum Partners LLCFulcrum Partners LLC
Death Benefit Only plans can offer a simple and flexible option for providing benefits to attract or retain key employees. Learn more about who DBO plans benefit and how to implement them, as well as taxation benefits and concerns in this AALU Washington Report published by Fulcrum Partners LLC.
The IRS has issued guidance on implementing the $2,500 limit on employees' pre-tax contributions to health flexible spending accounts (FSAs) as required by the 2010 health care reform law. Key points include: the limit applies on a plan year basis for cafeteria plans beginning after 2012; employers have until 2014 to amend plans to reflect the limit but must administer plans in accordance with it starting in 2013; and relief is provided for excess contributions due to reasonable mistakes.
How Medicare Affects Employer Health Coveragebenefitexpress
This presentation reviews the topic of Medicare and how it can affect Employers Health Coverage offerings, including: employer secondary rules, COBRA, notice requirements, and reporting requirements.
This document summarizes an employee benefits plan from ECOH Management Inc. It outlines the company's group policy with Manulife Financial to provide medical, dental, life, disability, and other insurance benefits to employees. Key benefits include health and dental coverage, an extended health care plan, life and accidental death insurance, long-term disability coverage, and access to health resources through Manulife Financial.
This document provides model language for a separation agreement to divide a defined benefit retirement plan between spouses as part of a divorce settlement. It outlines 11 sections addressing how to calculate and distribute the marital portion of benefits to the alternate payee (former spouse), including survivor benefits, cost of living adjustments, early retirement subsidies, and ensuring qualified domestic relations order (QDRO) approval. It stresses incorporating the QDRO language directly into the separation agreement to avoid future confusion and issues with the plan administrator.
This document provides an overview of accounting for various types of employee benefits, including wages and salaries, compensated absences (such as annual leave, sick leave, long service leave), profit sharing and bonus plans, and termination benefits. It discusses the recognition, measurement, and disclosure requirements of AASB 119 Employee Benefits for each type of benefit.
With Department of Labor audits on the rise, this presentation reviews all the requirements under ERISA. This includes the requirements for plan documents, disclosures and reporting.
This issue of Retirement Plan News includes articles on the following: Post-severance compensation revisited, The fiduciary role and Tibble v. Edison, Bankruptcy and retirement plans.
This webinar covers a basic review of the requirements under ERISA, including: what is an ERISA benefit, what documentation requirements have to be met, what disclosure requirements have to be met, what reporting requirements need to be met, what is a fiduciary, and what are other requirements.
The document discusses Fannie Mae, a government-sponsored enterprise that works to strengthen the U.S. housing market. It provides an overview of Fannie Mae's history and role in the mortgage market. It also discusses Fannie Mae's reputation after receiving a government bailout during the financial crisis and recommends ways for the company to improve its public image and communications, such as being more transparent about its use of bailout funds and regularly updating its social media presence.
The King Cobra Cervical Plate is a spinal implant designed by Eminent Spine, LLC to stabilize the cervical spine. It features a Texas twister screw design that prevents screw migration and comes in plate sizes from 1 to 4 levels. The plate has a low profile thickness of 2.2mm and uses conically shaped screws that rotate 14 degrees to reduce risks of dysphagia.
The King Cobra lives in rocks and jungles, eats large prey, and has scaly skin, big fangs, an expandable hood, and olive, tan, or black coloration. It lays white eggs and has enemies including grey and brown mongooses and leopards.
The king cobra lives in dense forests and areas near water in Southeast Asia and India. It can grow up to 13 feet long and its venom is powerful enough to kill 20 people or an adult elephant with a single bite. The king cobra eats other snakes like pythons and rattlesnakes, and will also eat lizards and rodents when other food is scarce. It lays between 20-40 eggs and has a lifespan of around 20 years.
The king cobra is the largest venomous snake in the world, able to grow up to 18 feet long. It has a large hood and spreads it when threatened, along with raising up to 6 feet of its body off the ground. The king cobra's venom is powerful enough to kill elephants or 20 people. It preys on other snakes and lizards, hunting with its keen eyesight and sense of smell. Though facing threats from habitat loss and killing, the king cobra remains not yet endangered.
This report analyzes the direct selling industry in India, with a focus on Appco Group India. It begins with an introduction and overview of the global direct selling industry. It then provides details on Appco Group India, including what they do, their direct sales techniques, and how they operate within industry regulations. The report examines the future outlook for the Indian direct selling market and provides recommendations to help Appco Group India achieve continued success and growth. Key findings indicate direct selling remains an important industry in India that is projected to grow at an annual rate of 20% despite regulatory hurdles.
This document provides an overview of an online management system for a firm. The system will incorporate features for firm management, client relationship management, and central management. It will provide clients with online project booking capabilities. The system aims to provide a complete solution for a firm's problems related to financing, accounting, project management, and more. It will help managers, employees, and others work more effectively and efficiently. The system addresses issues with current manual processes that are difficult to manage, maintain records for, and lack security.
The document defines and describes cooperative societies. It notes that a cooperative society is a voluntary association of persons working together for common economic goals and mutual support. The key characteristics of cooperative societies are open membership, democratic governance, limited liability, and distribution of surplus funds to members. The document outlines different types of cooperative societies like consumer cooperatives, producer cooperatives, and agricultural cooperatives.
The document provides information about king cobras presented by three young authors, Ellie, Emily, and Olivia. It describes where king cobras live, what they eat (other snakes), how they survive by hiding in nests and grass, and how they take care of their babies by staying near the nest for 10 to 20 minutes. The authors are between 6 to 7 years old and share their favorite school subjects and hobbies, as well as what careers they want to pursue.
The seven habits are a framework for personal effectiveness and success. The first three habits - be proactive, begin with the end in mind, and put first things first - focus on self-mastery and independence. Habits 4, 5, and 6 address interdependence through thinking win-win, seeking first to understand then to be understood, and synergizing. The seventh habit is to sharpen the saw, which means renewing oneself physically, socially, mentally, and spiritually to sustain the other habits. Mastering the seven habits involves understanding how habits, character, and paradigms shape one's effectiveness.
This document provides an overview of the nuts and bolts of COBRA. It discusses what COBRA is, who it applies to, qualifying events, qualified beneficiaries, required notices, costs, length of coverage, termination of coverage, penalties for non-compliance, and common mistakes made with COBRA. It aims to explain the key aspects of administering and complying with COBRA requirements for employers.
This document discusses several notices and disclosures that employers must provide to employees under the Affordable Care Act (ACA) and other regulations. It covers the requirement to provide a Summary of Benefits and Coverage to all applicants and enrollees. It also discusses requirements for grandfathered plans, notices of patient protection rights, Medicare Part D creditable coverage notices, COBRA qualified beneficiary communications including open enrollment notifications, and challenges with health flexible spending accounts during open enrollment.
The document contains questions and answers about various health benefits topics:
1. Reporting under Section 6055 is required for retiree-only HRAs but not for HRAs integrated with an employer's medical plan or Medicare supplemental coverage. Whether standalone retiree HRAs require reporting is unclear.
2. Special enrollment rights notices are still required under HIPAA portability even though certificates of creditable coverage and general/individual notices of pre-existing conditions were eliminated in 2014.
3. For determining affordability of coverage, employers can use the rate of pay safe harbor based on 130 hours per month rather than 30 hours per week, or the federal poverty level safe harbor. Using the W-2 method, employers
COBRA provides temporary continuation of health coverage when it would otherwise be lost due to certain events like job loss. It applies to employers with 20+ employees and provides qualified beneficiaries like employees, spouses, dependents up to 36 months of continued coverage at group rates. When coverage is lost due to job loss, reduction in hours, divorce or other qualifying events, beneficiaries must be notified of COBRA rights and have 60 days to elect continued coverage by paying premiums. Coverage can end earlier for non-payment of premiums or obtaining other coverage, and conversion to individual policies must be offered at the end of the continuation period.
The Consolidated Omnibus Budget Reconciliation Act (COBRA) allows individuals to continue their group health plan coverage in certain situations. Specifically, COBRA requires group health plans to offer continuation coverage to covered employees and dependents when coverage would otherwise be lost due to certain specific events...
This document summarizes new provisions related to COBRA health insurance coverage included in the American Recovery and Reinvestment Act of 2009 stimulus package. It discusses that employees involuntarily terminated between September 2008 and December 2009, and their families, will only have to pay 35% of premiums for up to 9 months of continued coverage, with employers reimbursed for the remaining 65% through tax credits. It also outlines requirements for employers to provide updated notices to qualified beneficiaries about their options by April 18, 2009.
The document summarizes the provisions of the American Recovery and Reinvestment Act of 2009 relating to COBRA health insurance subsidies. It provides details on eligibility requirements, the 65% premium subsidy for qualified beneficiaries, additional notice requirements, and immediate compliance actions needed by employers. Key points include a subsidy for up to 9 months of COBRA coverage for involuntarily terminated individuals, additional notices that must be sent by March 19, 2009, and ensuring COBRA administration can properly process subsidies and payroll tax credits.
The document provides additional questions and answers from the IRS regarding the COBRA premium assistance provisions. Key points covered include: 1) employers have flexibility in determining if a termination was involuntary; 2) seasonal and temporary workers whose contracts expire can be considered involuntary terminations; 3) reserve and National Guard duty is an involuntary termination regardless of leave status; and 4) individuals have flexibility in choosing the effective date of their COBRA coverage within limits of the subsidy period.
This document establishes an HRA (Health Reimbursement Arrangement) plan by RCW Construction & Consulting, LLC effective July 1, 2007. The plan provides reimbursement of health insurance premiums for eligible employees. Eligible employees must be enrolled in individual health insurance to participate. The plan allows reimbursement of premiums for medical, dental, vision, and life insurance up to a maximum benefit amount defined in Schedule A. Unused funds are forfeited and do not carry over to the next year. The plan is administered by RCW Construction & Consulting and provides reimbursement to eligible employees upon submission of insurance premium bills.
How to Navigate COVID-19 Legal Issues and Small Business Administration's Pay...Parsons Behle & Latimer
This document provides a summary of a webinar about navigating legal issues related to COVID-19 and the Small Business Administration's Paycheck Protection Program. The webinar covered topics like creating a return to work plan, managing leave under the FFCRA, conducting lawful workforce reductions, applying for and qualifying for forgiveness of PPP loans, expanded unemployment benefits, payroll tax credits, and other CARES Act provisions. The presentation emphasized that this information is based on the latest available guidance but is not legal advice, and businesses should consult legal counsel on these complex issues.
Intertwined Guidelines: Untangling Your Enrollment Notice Requirementbenefitexpress
This document discusses various notices that must be provided to participants in group health plans. It separates the notices into those that are required for all plans, those required for all plans but not annually, and notices required for plans meeting specific criteria. For each notice, it provides details on who must provide the notice, who it must be provided to, and the timeline for delivering the notice. Notices discussed include the SBC, HIPAA special enrollment rights, Medicare Part D creditable coverage, CHIP, and various COBRA required notices.
Randall Webb - TJSDD - Common Pitfalls and Deficiencies Found in Plan AuditsDowney Brand LLP
At the 2015 Savannah Fiduciary Seminar, Randall Webb of TJS Deemer Dana presented the most common deficiencies identified during plan audits and how plan sponsors should correct those deficiencies going forward.
There's nothing like the fear of a COBRA audit. As a result of revised IRS audit guidelines, audits have increased along with penalties. Be prepared with these items for your COBRA audit.
Coordination of Benefits and its implications to Health PlansCitiusTech
Coordination of Benefits (COB) allows plans that provide health and/or prescription coverage with Medicare to determine their respective payment responsibilities (i.e. determine which insurance plan has the primary payment responsibility and the extent to which the other plans will contribute when an individual is covered by more than one plan). Member’s primary plan has the responsibility of paying claims first, followed by coverage by remaining plans. This process of splitting the costs across multiple coverage is called COB. This document introduces COB and how health plans and members benefit through COB regulations.
In early July, the Department of Treasury announced it is delaying a key mandate of the Affordable Care Act: what's known as the 'Pay or Play' mandate. While pushing pause on this mandate gives large employers another year to prepare, we strongly advise businesses not to wait to start making strategic decisions. For more information, contact Fraser Trebilcock Senior Health Care and Business Attorney Mike James at mjames@fraserlawfirm.com or 517.377.0823. You can also find more information at www.milhealthlaws.com.
Similar to Top 10 cobra mistakes presentation (20)
This document provides an overview of Washington State's new Paid Family and Medical Leave Act, which creates a state-run insurance program for paid family and medical leave. Key points include: the program will be funded by payroll deductions from both employers and employees starting in 2019, with benefits available in 2020; it provides up to 12 weeks paid leave for family care and 12-18 weeks for medical leave depending on circumstances; employers with under 50 employees do not have to pay the employer premium share. The document also discusses eligibility requirements, qualifying reasons for leave, notice requirements, job protection provisions, and enforcement.
This document provides an overview and summary of Sections 6055 and 6056 reporting requirements under the Affordable Care Act. It discusses:
- Section 6055 requires providers of minimum essential health coverage to file information returns and provide statements to individuals about their coverage.
- Section 6056 requires applicable large employers to report information to the IRS and employees about health coverage offered.
- The reporting deadlines, forms used, and information required to be reported are outlined for both sections.
- Methods of electronic and paper reporting to individuals and the IRS are described, including penalties for noncompliance.
Over 1/2 of the companies in the US have a HSA in place. Some of Washington State's largest companies have introduced HSA's and an option or THE option for employee medical plans. This is a good overview of how HSA plans work.
Post-Election: Health Care Reform Here to StayBrett Webster
The document summarizes key implications of the Affordable Care Act (ACA) for employers and health plan sponsors following the 2012 election. It discusses that the ACA is likely here to stay given the election results. It outlines various ACA provisions taking effect through 2014 that will impact employers, such as new insurance mandates, reporting requirements, fees and penalties. It also notes ongoing regulatory uncertainty around some ACA provisions.
HSAs allow individuals to save money for current and future medical expenses in a tax-advantaged account. To be eligible, one must have a high-deductible health plan. Contributions up to annual limits can be made by individuals or employers and withdrawn tax-free for medical expenses. Distributions not used for medical expenses are taxed. Upon death, the account typically goes to a spouse or becomes taxable to the estate or beneficiary.
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
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1. TOP 10 COBRA MISTAKES
(AND HOW TO AVOID THEM)
Brett Webster – AH&T Insurance
(206) 770-3051 - bwebster@ahtins.com
2. Introduction to COBRA
Consolidated Omnibus Budget Reconciliation
Act
COBRA continuation coverage = temporary
continuation of health coverage at group rates
Available to “Qualified Beneficiaries” upon
occurrence of “Qualifying Events”
4. #10 – Assuming COBRA Doesn’t
Apply to You
COBRA applies to group health plans for
employers with 20 or more employees
Small employer exemption
Rule is – 20 or more employees on more than
50% of typical business days in the previous
calendar year
Count full-time and part-time employees
Part-time employees = fraction
5. #9 – Assuming COBRA Doesn’t
Apply to Your Plan
COBRA applies to group health plans maintained
by employers
Health plans subject to COBRA:
Medical, dental, vision and Rx plans
Drug and alcohol treatment program
Employee assistance plans that provide medical care
On-site health care
Health FSAs and HRAs
Self-funded medical reimbursement plans
Wellness programs that provide medical care
6. #9 – Assuming COBRA Doesn’t
Apply to Your Plan
Health plans not subject to COBRA:
Long-term care plans
AD&D plans
Group term life insurance plans
LTD & STD plans
Wellness programs or employee assistance programs that do not
provide medical care
Exercise or fitness centers
Onsite first-aid facilities
Cancelling plan doesn’t always cancel COBRA
responsibility
If employer continues to provide any group health plan, obligation to
provide COBRA coverage continues
7. #8 – Not Knowing Your Qualifying
Events or Qualified Beneficiaries
Qualifying events trigger COBRA coverage for
qualified beneficiaries (QBs)
Who is a QB?
An individual covered by a group health plan on the day
before a qualifying event
Employee, employee’s spouse, employee’s dependent
children
Sometimes includes retired employee and spouse and
dependent children
Any child born to or placed for adoption with covered
employee during COBRA coverage period
May include agents, independent contractors and directors
8. What is a Qualifying Event?
Elements of a qualifying event:
Specified triggering event
Causes (or will cause) a loss of coverage
Within maximum coverage period
While the plan is subject to COBRA
Loss in anticipation of events
FMLA Leave
Pay attention to plan terms for eligibility – listed
event may not cause a loss of coverage, individual
may not be QB
9. What is a Qualifying Event?
Qualifying events for employees:
Termination of employment (for reasons other than gross
misconduct)
Reduction in hours of employment
Qualifying events for spouses:
Termination of covered employee’s employment (for any
reason other than gross misconduct)
Reduction in hours of covered employee’s employment
Covered employee becoming entitled to Medicare
Divorce or legal separation from covered employee
Death of covered employee
10. What is a Qualifying Event?
Qualifying events for dependent children:
Loss of dependent child status under plan rules
Termination of covered employee’s employment (for
any reason other than gross misconduct)
Reduction in hours of covered employee’s
employment
Covered employee becoming entitled to Medicare
Divorce or legal separation of covered employee
Death of covered employee
11. #7 – Giving No Information
Plan Administrators are required to provide certain
information to plan participants and beneficiaries and
QBs
COBRA Notice Rules - set minimum standards for timing
and content of notices required under COBRA
applicable to calendar-year plans on January 1, 2005
Provided model notices and added two new notice
requirements (unavailability and early termination)
Require reasonable procedures for providing notices
Did not affect substantive COBRA rules
Not providing timely/proper notices puts plan at risk
Avoid problems by establishing procedures for sending
notices
12. COBRA Notices – General Notice
Provides information to plan participants regarding
COBRA and plan procedures
Must be provided within 90 days after plan coverage
begins
Must be written to be understood by average plan
participant
May be provided in Summary Plan Description
Single notice can be provided to employee and spouse
at same address
Content specified in regs – model notice available
13. COBRA Notices – Election Notice
Gives QBs information about rights and obligations
regarding a specific qualifying event and coverage
Must be provided to QBs within 14 days after plan
administrator is notified of Qualifying Event
If employer is plan administrator, notice must be
provided within 44 days of qualifying event or loss of
coverage (whichever is later)
Content specified in regs - model notice available
14. COBRA Notices –
Notice of Unavailability
Plan administrator must notify individual with explanation
of why s/he is not entitled to COBRA coverage
No Qualifying Event had occurred
QB did not furnish required notice
QB did not provide complete information
Deadline is same as that for sending election notice
Generally must give notice of COBRA ineligibility within
14 days after receipt of notice of Qualifying Event
15. COBRA Notices –
Notice of Early Termination
Plan administrator must notify QBs when
continuation coverage terminates before the end of
the maximum coverage period
Timing – must notify as soon as practicable
Must contain the following information:
Reason for early termination
Date coverage terminated or will terminate
Available conversion rights
16. COBRA Notices – Employer’s
Notice of Qualifying Event
Employer must notify plan administrator within 30 days
of the later of qualifying event or loss of coverage
Notice must be given of employee’s death, termination
of employment, reduction in hours of employment,
Medicare entitlement
Must include sufficient information to determine plan,
employee, qualifying event and date
No notice necessary where employer is plan
administrator
17. #6 – Giving Bad Information
General Notice – Required Content
Plan name
Name, address and phone number for contact person for
information about the plan and COBRA
Description of COBRA coverage under the plan
Plan procedures for QBs to provide notice of certain
qualifying events
Plan procedures for QBs to provide notice of SSA
determination of disability
Statement that notice does not fully describe COBRA or
other rights and plan administrator and SPD can provide
more info
Importance of advising administrator if address changes
Model notice available
18. #6 – Giving Bad Information
Election Notice – Required Content
Plan name and name, address and phone number for
contact person for information about the plan and COBRA
Identification of the qualifying event
Date plan coverage will terminate
Identification of the QBs by status or name
Statement that each QB has independent right to elect
coverage
Description of COBRA coverage
Amount each QB required to pay and procedures for
making payments
19. #6 – Giving Bad Information
Election Notice, continued
Explanation of how to elect coverage and date by which election
must be made
Consequences of failing to elect or waiving COBRA
Explanation of duration of COBRA coverage
Explanation of circumstances where coverage may be extended
QB’s responsibility to provide notice of second qualifying event
or SSA disability determination (including procedures for
providing notice)
QB’s responsibility to provide notice of determination that QB is
no longer disabled
Explanation of importance of keeping plan administrator
informed of current address
Statement regarding more complete information
20. #5 – Not Following Procedures
Plans must establish reasonable notice procedures for
covered employees and QBs to notify plan of certain
events
Qualifying events: divorce, legal separation, dependent
child losing dependent status
Second qualifying events
SSA disability determination (or cessation of disability)
Consequences of not having reasonable procedures
QB deemed to have given notice if s/he has communicated
a specific event in a manner reasonably calculated to
inform those customarily considered responsible for the
plan
21. Reasonable Notice Procedures
Described in SPD
Specify individual or entity designated to receive notices
Specify how notice is to be given
May require use of specific form
Must allow covered employee, QB or representative to
provide notice
Describe the information required
Specify deadlines for providing notice
Provide for proper handling of incomplete notices
22. COBRA Notices – Employee’s
Notice of Qualifying Event
Covered employees and QBs are generally required
to notify plan administrator within 60 days of the
later of:
Qualifying event or second qualifying event,
Loss of coverage or
Date they were first notified of notice obligations
Prompt notification decreases risk to plan
23. COBRA Notices – Employee’s
Notice of Disability Determination
QBs determined to be disabled by SSA are
generally required to notify plan administrator within
60 days of receipt of disability determination and
before end of original 18-month continuation
coverage period
QBs must notify plan administrator within 30 days of
determination that they are no longer disabled
24. COBRA Election Procedures
QB must be given at least 60 days to elect COBRA
Election period begins on date election notice is
provided or date on which coverage would be lost
(whichever is later)
Each QB has independent right to elect COBRA
Covered employee or spouse can elect on behalf of all
other QBs and parent or guardian can elect on behalf of
minor child
If QB waives coverage during election period, s/he can
revoke waiver before end of election period
25. Payment Procedures
Plan can require payment of “applicable premium” for
COBRA coverage
102% of employer’s cost
150% for disabled QBs
Premium payments must be made in a timely manner
Payment = made when sent
Initial premium = due 45 days after election
Premium due date is usually 1st of month – plan must allow 30
day grace period
Late payments and short payments
Forwarding payments to insurers
26. #4 – Not Giving Enough Coverage
Continuation coverage provided to QBs must be the
same as coverage provided to “similarly situated”
individuals covered under the plan (not receiving
COBRA coverage)
Intended to be the same coverage the QB had before
the qualifying event
QBs entitled to same benefits, rights and privileges that
similarly situated participant or beneficiary receives
under the plan
Changes to plan’s terms that affect similarly situated
participants and beneficiaries apply to QBs receiving
COBRA coverage
27. #3 – Charging Too Much or Too Little
Group health plans can require QBs to pay for COBRA
coverage
May choose to provide coverage at a discount or no cost
Maximum COBRA premium cannot exceed 102% of
cost to plan for similarly situated plan participants
Disabled QBs receiving disability extension may be
charged up to 150% of the plan’s total cost of coverage
COBRA premiums may be increased if plan cost
increases, but must be fixed in advance of each 12-
month premium cycle
28. #2 – No Documentation
Notice information and procedures – document in SPD
and notices
Document notices sent
Certificate of mailing
Business records method
Keep records of notices received
Document payments received
Accurate and thorough records will assist in
administration and support plan in event of a claim
29. #1 – Bad Timing
Maximum coverage period
18 months for termination of employment and reduction in
hours
36 months for death of covered employee, divorce or
separation, covered employee’s entitlement to Medicare
Can be extended or terminated early
Special rule for newborn/adopted children – maximum
coverage period is the remainder of the original
maximum coverage period
30. Expanding COBRA Coverage
Extended notice rule ➨ permits maximum coverage
period to run from date of loss of coverage, not date
of triggering event
Disability extending rule ➨ extends 18-month period
to 29 months for all related QBs
Multiple qualifying event rule ➨ extends 18-month
period to 36 months for spouse and children when
2nd qualifying event occurs during initial 18-month
period
31. Expanding COBRA Coverage
Medicare entitlement rule ➨ extends 18-month
period for spouses and children when covered
employee becomes entitled to Medicare within 18
months before triggering event
Bankruptcy of sponsoring employer ➨ extends
coverage for retired employee, spouse and
dependent children
32. Terminating COBRA Coverage
COBRA coverage generally terminates at end of
maximum coverage period
No notice to QB required
COBRA may be terminated early if:
QB fails to make timely premium payments
Employer ceases to make any health plan available to any
employee
QB becomes covered under another group health plan
Disabled QB is determined not to be disabled
For cause
Notice required for early termination