COBRA Administration Rachel Lyubovitzky, Co-Founder & CEO Peter - PowerPoint PPT Presentation

COBRA Administration Rachel Lyubovitzky, Co-Founder & CEO Peter Carille, Marketing Specialist

Agenda • COBRA Basics • How Our Service Works • Ordering Process • Pre-Implementation • Implementation • COBRA Administration Best Practices • “A Day in the Life” Demo • Quick Tip - How to Leverage See it at: • Q&A Section bit.ly/cobraadministration

COBRA Basics

What Is COBRA Administration? COBRA Administration responsibilities: • Monitoring of coverage periods and timeliness • Collecting/managing premium payments • Distributing notices; communicating with beneficiaries

Why Clients Outsource COBRA • It’s an administrative nightmare ! • Its…uncomfortable • The risk of non-compliance • Third Party Administrators (TPAs) are better equipped at handling COBRA

How Our Service Works

Our Communications Process Newly Eligible Hires Group Participant has COBRA Life Change Events Qualifying Event COBRA Qualifying Events* • Termination • Reduction in hours Employer Notifies COBRA Administrator • Divorce/Separation • Loss of Dependent status COBRA Election Notice Initial Notice Signed Election Form Sent Premium Payment Coverage Re-instated Received

How We Monitor for Events HRIS/Benefits Platform Standalone Employee Benefits Employee Uploads/Updates Benefits Updated in Real Time as needed Changes in Coverage Employer Logs Life-Change Events on Logged Automatically* EverythingBenefits When there is an electronic bridge in place*

Ordering

Ordering Process • Navigate to bit.ly/neworders • Submit your order with all data: ✓ Client Information ✓ Key Contacts ✓ COBRA Information • If order is not submitted, come back within a week or two to complete

Ordering Process – Client Information Submit client information: • HR/Benefits platform • Company name, address, etc. • # of employees • Current Connectivity • Additional notes

Ordering Process – Key Contacts Submit key contacts: • Authorized contact • “Authorized to Execute COBRA Agreement” • Backup contact • Additional key contact(s)

Ordering Process – COBRA Information Submit COBRA information: • Is COBRA administration needed? • # of qualified beneficiaries • COBRA coverage subsidized? • Current COBRA admin?

Implementation Process

Implementation Overview • Pre-Implementation 1. Notification of agreement 2. Agreement sent 3. Agreement signed & returned • Implementation 1. Schedule a kick-off call 2. “Getting Started” checklist sent 3. Kickoff call 4. Post-call final review 5. Production email sent

Pre-Implementation

Pre-Implementation Phase 1: Notification & Agreement sent

Pre-Implementation Phase 2: Agreement email follow-up (if necessary)

Pre-Implementation Phase 3: Agreement signed & returned to EverythingBenefits

Implementation

Implementation – Schedule Kick-off Call

Implementation - Checklist “Getting Started” checklist sent • Action items to take to prepare for the kick-off call • Additional information provided in second half of document (Overview of service, when clients go live, etc.)

Implementation – Kick-off Call Topics Covered: • Review COBRA kick-off presentation deck • Review the checklist over GoToMeeting • Responsibilities of Client, EverythingBenefits

Implementation – Final Review Review: • Checklist (reconcile any missing information) • Account admins, benefits admins • Training client/user account access

Implementation – Production Email Sent COBRA client production notification email sent Information provided: • “Go - live” date • User credentials • Link to knowledgebase **EverythingBenefits recommends that Client access its company account on a monthly basis to review any updates & notices pertaining to the COBRA administration**

Post-Production Communications

Post-Production Communications Open Enrollment • Client’s open enrollment process overview • When is open enrollment? • Are the current carriers or plans changing? • What are the policy contract dates? Missing Information • COBRA Initial Notices • COBRA Qualifying Event packages

COBRA Administration Best Practices

COBRA Administration Best Practices • Be aware of the overall process • Join clients on kick-off calls • Set expectancy with clients See our materials at: https://app.box.com/v/EverythingBenefits

“A Day in the Life…”

Quick Tip – How to Leverage

Quick Tip – How to Leverage

Final Thoughts

Final Thoughts All you need to do is… 1. Sell the product 2. Submit the order 3. Setup the data feed 4. Bill the client

Questions?

Thank You – Stay Connected! COBRA@everythingbenefits.com Get: • The latest benefits news / hot topics • Benefits-related posts for your own networks LinkedIn | Twitter | Facebook | • EverythingBenefits news