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Changes to
COBRA and the American Recovery & Reinvestment Act
The United States Congress enacted the Consolidated Omnibus Budget Reconciliation Act of 1985, commonly referred to as COBRA, as a means to provide continuing group insurance for certain individuals and their dependants following the loss of employment. The laws governing COBRA administration, COBRA eligibility, and COBRA election have been amended over the years, with the most recent changes occurring in early 2009.
Triton HR continues to monitor the changes in
COBRA administration, COBRA eligibility, and
COBRA election provisions. For all of our clients that are subject to the rules and regulations set forth by the Federal COBRA legislation, Triton HR can provide the following services:
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General notice of COBRA rights to every employee that enrolls in benefits.
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Upon termination, COBRA Continuation Coverage Election form is sent.
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Funds are collected from enrolled participants and credited back to the client on a monthly basis.
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Due to changes to the American Recovery & Reinvestment Act (ARRA), a total monthly subsidy amount is calculated for all ARRA-eligible participants.
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Valiant Payroll System can accommodate these subsidy amounts so that the tax credit is immediately recognized and the total is reflected on the Quarterly 941.
Managing COBRA administration, COBRA eligibility, and COBRA election rules and regulations can be time-consuming and burdensome. Triton HR alleviates those stresses with their all-inclusive administration of the COBRA administration, COBRA eligibility, and COBRA election process.
Call 866-USTRITON and speak with one of our licensed Benefit Specialists to learn more about which type of insurance plans are best for you and your employees. |
