Clarity Benefit Solutions Discusses Six Ways COBRA Administration Companies Can Stay on Top of Ever-Changing Rules and Regulations of COBRA Compliance

NEW YORK, Dec. 6, 2017 /PRNewswire-iReach/ -- Clarity Benefit Solutions discusses six ways COBRA administration companies can stay on top of ever-changing rules and regulations of COBRA compliance.

Keeping abreast of COBRA requirements is a challenging task to undertake. Any violations can result in costly liabilities and penalties. In addition, Employee Retirement Income Security Act (ERISA) regulations are allowing for personal liability to be imposed on the employer for any COBRA violations. Here are some tips for staying on top of these constantly evolving rules and regulations.

Stay informed and educated. The Affordable Care Act (ACA) is in a state of flux right now. Currently, any changes to this act can affect COBRA regulations. COBRA administration companies must be aware of these happenings, so they can act accordingly.

Maintain a paper trail. It is imperative to provide COBRA participants with monthly invoices. Make sure to note the amount that is due, as well as the end date of the 30-day grace period.

Do not allow late payments. Emphasize that COBRA participants are not allowed to send late payments. If they want to keep their COBRA benefits, they need to make their premium payment on or before the date on the invoice.

Take advantage of technology. Thankfully, today's technology allows employers to send payment reminders via email, text, and automated messages. That said, COBRA administration should also employ traditional reminder methods such as letters and phone calls as a back-up.

Offer a variety of payment methods. It is important to offer several payment methods to COBRA participants, including: credit card payment and the Automated Clearing House Network (ACH), PayPal, and automated recurring payments.

Use a COBRA administration company. Companies such as Clarity Benefit Solutions have a COBRA web-based software program that has the ability to streamline compliance with automated notifications about important life event changes, qualifying events, pending payments, and account updates. This can result in added peace of mind to the employer that these tasks are being performed effectively.

About Clarity Benefit Solutions: Clarity Benefit Solutions COBRA administration, provides technology that makes the health insurance plan selection process fast, easy, and straightforward. For over two decades, we have provided clients with industry-leading technology, compliance, and exceptional customer service. Our offering is designed to save time and lower the costs of managing benefits while also promoting employee self-service and automated ACA compliance.

Media Contact: Calvin Clark, Clarity Benefit Solutions, 732-428-8272, [email protected]

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SOURCE Clarity Benefit Solutions