Let BASIC NEO manage the deadlines and details of your COBRA compliance! COBRA law is fairly straightforward, but administering it correctly is time-consuming and complex. And it’s not a task that can be put off. Notice and election deadlines create urgency that cannot be mismanaged. COBRA tasks can consume your internal resources and distract from other priorities.
Your health insurance carrier might offer to send COBRA notices for their coverage, but what about your other health plans, such as dental or vision coverage, or a Health Reimbursement Account? NEO can manage the compliance for all of your group health plans so nothing falls through the cracks.
BASIC NEO’s COBRA administration services include:
- NEO tracks the COBRA election and premium payment timeframes.
- NEO provides payment coupon books to COBRA Participants for their monthly premium payments.
- NEO accepts online premium payments from COBRA Participants.
- NEO collects, processes, and forwards premium payments to the employer on a monthly basis.
- Employers have continuous online access to track COBRA activity and generate reports, such as Qualified Beneficiary and COBRA Participant reports.
- Employers may submit COBRA activity through our secure web portal; or
- Employers may inform NEO of any COBRA activity through various electronic formats, such as Excel, text file, etc.
- NEO provides a COBRA procedure manual for the employer, as required by TAMRA.
- NEO provides consulting and support for State Continuation laws.
- NEO manages the multiple premium changes and time frames created when the employer has made special COBRA arrangements under individual separation agreements.
- NEO will ensure a smooth and timely transition from your current COBRA provider or in-house administration.