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COBRA

Since 1986, most employers with group health plans and at least 20 employees have been challenged not only to administer COBRA

COBRA (x)
The Consolidated Omnibus Budget Reconciliation Act (COBRA) became law in 1986 and gives terminated employees, retired employees, or those who lose health insurance coverage because of reduced work hours the right to temporarily continue purchasing coverage at group rates. This coverage also can extend to the spouse and/or dependent child of a covered employee. To qualify for COBRA, health coverage must have been lost due to certain specific triggers, or “qualifying events.”
benefits, but also to stay alert to the hundreds of changes that have occurred in the COBRA legislation since its implementation. MedCost Benefit Services has the administrative capabilities and expertise you need to insure that your company is not hit with the costly fines and penalties associated with non-compliance of this complicated program.

Our staff averages over 15 years of COBRA experience, and we constantly monitor COBRA regulations and our clients’ health plans for ongoing compliance. When you choose MedCost as your COBRA solution, all you need to do is report any new hires, changes in status, and terminations as you normally would. MedCost can handle all other aspects of your COBRA administration.

At the time you enroll employees for benefits, MedCost will send a notice of COBRA rights to every newly insured (adult) member. Whenever employees become eligible for COBRA, we will provide them with everything they need to elect COBRA coverage: enrollment forms, premium costs and due dates, and information on the type of coverage available. MedCost will handle all of the invoicing, accounting, and administrative tasks; and employers will receive detailed monthly summaries of our activities on their behalf.

At every step along the way, the MedCost customer service team is available by phone to handle any questions for both employers and COBRA members.

 
 
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