Three Ways You Benefit With Third-Party COBRA Administration
September 11, 2018
When you work in human resources, multi-tasking isn’t just part of the job. It is the job! Human resources professionals are skilled leaders in a number of areas within a business, including benefits administration, employee training, development, relations, recruitment and compensation. And, if your business handles its own COBRA administration, then you are carrying additional healthcare responsibilities and risk.
Choosing a third-party COBRA administrator helps you focus on the other aspects of running your business. Keep reading to learn some of the benefits you’ll see when you outsource your COBRA coverage. And complete the form below to download our COBRA mobile app kit, which contains resources that show you the importance cutting-edge technology has on your COBRA administration when you go with a third-party administrator.
Ease your workload
Enjoying a healthy work-life balance is critical in helping you keep stress in check and reduce the likelihood of burning out at work. Taking COBRA off your plate will do just that, since you’ll reduce or eliminate the need to manually:
- Send and receive COBRA paperwork.
- Collect premium payments.
- Submit carrier eligibility to insurance carrier.
Federal regulations surrounding COBRA require your qualified beneficiaries be provided with informative notices and communications in a timely manner. There are a number of important materials to share and deadlines that must be met.
An experienced administrator will help you avoid making common COBRA administration mistakes, which dramatically simplifies COBRA for you and your members. Make sure to find an administrator with automation and integration solutions so key deadlines are hit efficiently and accurately.
Provide a comprehensive experience
COBRA is a complex topic, so it’s not surprising to learn that around half of human resources professionals say their companies outsource some or all of their COBRA.
That same feeling of complexity may also be felt by your COBRA members. Choosing a third party to manage your COBRA lets you provide the best experience. You can lean on your administrator to provide your members with helpful tools, such as an online account and mobile app so your members can access their COBRA anytime and anywhere. And your administrator should have extraordinary customer service specialists adept at answering any questions your members have.
Would you like to learn more about how you can simplify your COBRA through technology for your COBRA members? Complete the form above to download your kit!