A COBRA Management Solution
Simplify COBRA insurance administration with Payworx. With its complex compliance and administration laws, it can be challenging to know if
you’re handling COBRA insurance correctly.
Total COBRA Automation
Payworx automatically handles your COBRA notifications and
administration for you, so you don’t have to.
COBRA Compliance is a must.
When your COBRA compliance program isn’t managed properly, you are exposed to possible IRS excise tax issues, ERISA penalties and litigation. COBRA errors have severe consequences, some of which could put a well-intentioned employer out of business. Continuing legislative changes are making COBRA harder to administer, not easier. With the right technology, you can spend your precious time managing your workforce, not administering COBRA.
| Issue | Our Solution |
| Time frames | We track 29 possible time frames per beneficiary |
| Notice requirements | Our notices exceed DOL model notice requirements |
| Changing regulations | We monitor legislation on a daily basis |
| Documentation | We retain documentation eight years |
| Time | Payworx relieves you of this time-consuming duty |
What you need to know about COBRA coverage
COBRA requires that employers with 20+ employees offer continued health care coverage for those who have lost it. Employers need to know:
- If they’re subject to federal/state COBRA laws
- Who is eligible for COBRA insurance
- What triggers COBRA insurance
- COBRA compliance requirements
Compliance notifications, automated
The Deparment of Labor requires that employers send COBRA notifications at very specific time intervals. Employers must:
- Notify covered employees and spouses of their initial rights
- Notify employees about their rights to COBRA insurance
- Notify plan administrators after a qualifying event occurs
We handles all necessary COBRA notifications and admin online.
Some details on our complete, end-to-end
solutions, to COBRA notifications and premium collection.
General Notice
Qualifying event election notice
Notice of unavailability
Extension notice
Conversion notice
Early termination of COBRA notice
Expiration notice
Premium billing notice
Notice of plan changes Notifications
Qualifying event election notice
Notice of unavailability
Extension notice
Conversion notice
Early termination of COBRA notice
Expiration notice
Premium billing notice
Notice of plan changes Notifications
Daily status change report
COBRA elections
Participant status report
Monthly notices mailed report Reports
COBRA elections
Participant status report
Monthly notices mailed report Reports
Participant welcome letters
COBRA elections
COBRA premiums
Remit premiums to client or carrier
Send Insignificant premium underpayment notice
Report to client to add/delete COBRA participants
Answer inquiries from ex-employees Premium Collection
COBRA elections
COBRA premiums
Remit premiums to client or carrier
Send Insignificant premium underpayment notice
Report to client to add/delete COBRA participants
Answer inquiries from ex-employees Premium Collection
Monitor COBRA regulations and legal opinions
COBRA elections
Immediate notification of relevant changes Research
COBRA elections
Immediate notification of relevant changes Research
Looking for value in an integrated COBRA solution
that simplifies your entire benefit process?
Payroll Processing
Automate and streamline your payroll process with configurable checklists and immediate access to reports and data.
Learn More Integrated
Time & Attendance
Automating time & attendance can providing real-time insight into labor data to help control costs and reduce compliance risk.
Learn More Integrated
Schedule Management
Real-time visibility into the workforce allows you to handle staffing changes on your own terms to control labor costs without jeopardizing productivity or service levels. Integrated