COBRA Administration
Enjoy integrated COBRA compliance
Our uniquely integrated system initiates COBRA compliance when qualifying events are entered in our payroll software. Simply adding a health care deduction for an employee or terminating a worker is an easy, every day step in our system and with virtually no additional work required on your part, COBRA compliance is initiated.
Rely on Paycom Benefits to send required COBRA correspondence
When a qualifying event is entered by you into our payroll software, Paycom Benefits responds by sending out the required notice the next business day by Certificate of Mailing. Your required notices include the:
Initial Notice which is generated when you set up the payroll deduction for benefits (this will work even for employers who pay 100 percent of the premium).
Election Notice which is generated when a COBRA-eligible worker is terminated in the payroll system. For beneficiaries like an employee's divorced spouse who is no longer eligible for health benefits, users simply click to generate an Election Notice and Paycom Benefits does the rest.
Alleviate your COBRA administration headaches
Paycom Benefits handles date tracking and premium payments for your current and former employees who are COBRA eligible. For those who elect COBRA benefits, we handle correspondence regarding their continued health insurance coverage, track dates and receive health insurance premium payments. We also send our COBRA clients monthly statements detailing all COBRA activity.
Limit your exposure for incorrect COBRA administration
COBRA laws are extremely complex and if you aren't careful and consistent with COBRA compliance, not only may your former employees and their beneficiaries suffer from a lack of health insurance coverage, the penalties for you as an employer can be costly. A critical aspect of COBRA compliance resides not just in following the proper steps and procedures but in documenting when and what was done.
