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

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

Jul 04, 2023 438 likes •823 views

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

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COBRA Administration

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

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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
  • Q&A Section

See it at: bit.ly/cobraadministration

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COBRA Basics

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What Is COBRA Administration?

COBRA Administration responsibilities:

  • Monitoring of coverage periods and timeliness
  • Collecting/managing premium payments
  • Distributing notices; communicating with

beneficiaries

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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

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How Our Service Works

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Our Communications Process

Newly Eligible Hires Life Change Events Group Participant has COBRA Qualifying Event

Employer Notifies COBRA Administrator

Initial Notice COBRA Election Notice

Signed Election Form Sent Premium Payment Received Coverage Re-instated

COBRA Qualifying Events*

  • Termination
  • Reduction in hours
  • Divorce/Separation
  • Loss of Dependent status
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How We Monitor for Events

HRIS/Benefits Platform

Employee Benefits Updated in Real Time Changes in Coverage Logged Automatically*

Standalone

Employee Uploads/Updates Benefits as needed Employer Logs Life-Change Events on EverythingBenefits When there is an electronic bridge in place*

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Ordering

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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

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Ordering Process – Client Information Submit client information:

  • HR/Benefits platform
  • Company name,

address, etc.

  • # of employees
  • Current Connectivity
  • Additional notes
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Ordering Process – Key Contacts Submit key contacts:

  • Authorized contact
  • “Authorized to Execute

COBRA Agreement”

  • Backup contact
  • Additional key contact(s)
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Ordering Process – COBRA Information Submit COBRA information:

  • Is COBRA

administration needed?

  • # of qualified

beneficiaries

  • COBRA coverage

subsidized?

  • Current COBRA admin?
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Implementation Process

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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

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Pre-Implementation

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Pre-Implementation Phase 1: Notification & Agreement sent

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

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

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Implementation

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Implementation – Schedule Kick-off Call

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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.)

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Implementation – Kick-off Call Topics Covered:

  • Review COBRA kick-off

presentation deck

  • Review the checklist over

GoToMeeting

  • Responsibilities of Client,

EverythingBenefits

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Implementation – Final Review

Review:

  • Checklist (reconcile any missing

information)

  • Account admins, benefits admins
  • Training client/user account

access

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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**

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Post-Production Communications

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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
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COBRA Administration Best Practices

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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

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“A Day in the Life…”

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Quick Tip – How to Leverage

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Quick Tip – How to Leverage

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Final Thoughts

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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
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Questions?

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Thank You – Stay Connected!

Get:

  • The latest benefits news / hot topics
  • Benefits-related posts for your own networks
  • EverythingBenefits news

LinkedIn | Twitter | Facebook |

COBRA@everythingbenefits.com