Outsourcing benefit administration is a less drastic option than leasing your employees. Outsourcing allows you to keep your workers as employees of your ... |
Finding just the right administrator for your employee benefits should not be something you rush into. When you're trying to pick an administrator, keep the following in mind: |
Whether you outsource your benefits administration or your insurance company does the administration for you, you may want to set up a way to measure your administrator's performance. If so, ... |
If you have 20 or more employees, you are subject to a law known as the Consolidated Omnibus Budget Reconciliation Act of 1985, better known as COBRA. COBRA requires employers to offer individuals ... |
If you're subject to COBRA, and if you have a group health plan, you have to provide COBRA benefits to qualified beneficiaries. A qualified beneficiary is anyone covered under your group health plan ... |
The following types of plans generally need to be offered to employees when COBRA is triggered (but only if you already offer them to employees): |
Events that trigger coverage are called qualifying events. The following are qualifying events: |
COBRA stresses communication to the employee of the right to continue benefits when a qualifying event occurs. Some of the communications requirements are ... |
The employee must pay the full cost of the insurance premiums. In fact, the law allows you to charge 102 percent of the premium, and to keep the 2 percent to cover your administrative costs. When an ... |
Complying with COBRA can be a pretty taxing job. Even big companies save time and money by outsourcing administration to companies that specialize in doing it. Even still, you should know some basics ... |
