COBRA Administration

  • Mail all DOL general notices for new hires and/or new dependents

  • Send COBRA election form to employees and/or dependents who lose coverage

  • Notify beneficiaries concerning benefit changes and rate increases

  • Track COBRA timetable for each COBRA participant

  • Collect monthly premiums

  • Inform insurance carriers and employer of the status of COBRA participants on a monthly basis

  • Act as liaison between COBRA participants and insurance carriers

  • Act as contact between COBRA participants and employer, answering COBRA questions and concerns

  • Send monthly reports to employer regarding payments and enrollments

  • Provide a website for employers and employees to manage accounts 24/7 

Flexible Benefits Administration

  • Administration of the following types of Flexible Benefit Plans:

    • POP - Premium Only Plan

    • Health FSA - Health Flexible Spending Account

    • Dependent Care FSA - Daycare/dependent care Flexible Spending Account

    • HRA - Health Reimbursement Arrangement

    • HSA - Health Savings Account

  • Creation of custom plan documents – plan document, SPD, enrollment form, claim form

  • Debit card option

  • Reconciliation of card purchases per IRS rules

  • Check or direct deposit reimbursements

  • Monthly reports e-mailed to employer

  • Participant online portal to check balances and submit claims

  • Apple and Android app to manage participant account

  • Quarterly e-mails to participants for account balances

  • Employer website to run reports and view participants

  • We also support complex plan designs such as:

    • Limited Health FSA that is HSA compatible

    • Complex HRAs such as reimbursing after HRA deductible and HRAs that reimburse on a percentage basis

  • Wrap plans to consolidate benefit plans under one document for ERISA and Form 5500 

  • Form 5500 preparation and discrimination testing   

Advantages

COBRA Administration

  • Assurance that COBRA is being administered according to IRS rules and regulations

  • Freedom to deal with other Human Resource issues

  • Knowledge that COBRA is being handled in a timely and cost-effective manner

  • Reliable record keeping

HOW DO WE DIFFER FROM OTHER COBRA ADMINISTRATORS?

  • BenefitsAssist, inc. gives the 2% COBRA premium surcharge back to the employer, lowering the overall cost of COBRA administration

  • We offer complete process administration from the general notice to the end of COBRA while some administrators only cover the event notice

  • BenefitsAssist, inc. covers all plans as employers change carriers, i.e. Medical, Dental, Vision, and Health Flexible Spending Accounts while some administrators will include one plan, such as Medical

  • We offer personal service with attention to detail

  • We maintain compliance with new and changing regulations

Flexible Benefits Administration

  • BenefitsAssist, inc. offers complete process administration from the plan design to implementation

  • Participants can use a Mastercard debit card to access their account.  No fees for extra cards for spouse and dependents.

  • Employees can submit claims via web, app, e-mail, fax, or mail
  • Claims are reimbursed bi-weekly via check or direct deposit

  • No extra fees for direct deposit