Cobra Insurance Broker
Cobra administration for employers refers to the process of managing and implementing the provisions of the Consolidated Omnibus Budget Reconciliation Act (COBRA). COBRA is a federal law in the United States that allows employees and their dependents to continue receiving health insurance coverage for a limited period of time after experiencing certain qualifying events that would otherwise result in the loss of coverage.
Under COBRA, employers with 20 or more employees are required to offer continuation coverage to eligible individuals who lose their health insurance due to circumstances such as termination of employment, reduction in work hours, death of the covered employee, or divorce or separation from the covered employee.
Cobra Administration Involves Various Tasks
Cobra administration for employers involves various tasks, including notifying eligible individuals of their rights to continue coverage, providing them with information about the available plans, collecting premiums, and ensuring compliance with the law’s requirements. Employers may choose to handle COBRA administration in-house or outsource it to a third-party administrator or insurance company.
It’s important to note that while COBRA provides an option for continued health insurance coverage, the premiums for COBRA plans are typically higher since the employer is no longer required to subsidize plans.
As a Cobra insurance broker, we work with some of the top industry experts in Cobra insurance administration to help find a solution for your team that meets the needs of your employees and your company.
It is important to note that we never charge you for using our services, our commission for assisting you comes from the insurance companies. We act as a broker and run quotes with all of the major carriers guaranteeing you the best rate for the benefits that best suit your needs as an employer
