Your COBRA Compli COMBAT Opportunity TH …myhrconc/files...and often face IRS fines; Department of...
Transcript of Your COBRA Compli COMBAT Opportunity TH …myhrconc/files...and often face IRS fines; Department of...
PERPLEXING RULES, CALCULATIONS& ADMINISTRATION
1Example of a confusing calculation:“….at least 20 employees on more than 50 percent of its typical businessdays in the previous calendar year. Both full- and part-time employees arecounted to determine whether a plan is subject to COBRA. Each part-timeemployee counts as a fraction of a full-time employee, with the fractionequal to the number of …”….U.S. Department of Labor on “Group HealthPlans Subject to COBRA1
[25]
SIGNIFICANT FINANCIAL PENALTIESEmployers are on the hook for COBRA mistakes
and often face IRS fines; Department of Labor (DOL)audits and enforcement activities; employee lawsuits andother negative actions.
Your COBRACompli™Opportunity
Deliver the right level of COBRA compliance & administration services to SMBs with 20 or more
employees. Those who offer group health plans must comply with this complicated federal law.
Number of days COBRA administration mayrequire an SMB to track for each affectedemployee
Written notices COBRA administration mayrequire an SMB to provide for each affectedemployee
[29]
Non-compliance penalties per each qualified plan participant
IRS & ERISA PENALTIES FORA FAMILY OF 4 FOR 90DAYS OF NON-COMPLIANCE:
$100 PER DAY
$110 PER DAYIRS excise tax ($200 per day maximum)
ERISA civil penalties (no maximum)
$57,600Jan $210 +
Spouse $210 +
Child 1 $110 +
Child 2$110
2
$640 x 90 days of non-compliance =
ADD VALUE
GROW PROFITS
KEEP COMPETITORSAWAY
1. https://www.dol.gov/sites/default/files/ebsa/about-ebsa/our-activities/resource-center/publications/an-employers-guide-to-group-health-continuation-coverage-under-cobra.pdf
1 The Independent Payroll Provider Partner Program | From MyHRConcierge
on your payroll business
COMBATTHE SQUEEZE
ALERT *** COBRA Can Squeeze the Life Out of Your SMB Customers in 2 Ways *** ALERT
Deliver COBRA Services Your SMBs ValueCombat Competitive ThreatsCOBRACompli, a next level COBRA administration service from MyHRConcierge, gives you a way to
add real value for your SMB customers and keep competitors away.
Customers Will Stick with YouCOBRACompli lets you ease your SMB customers’ worries with an easy, affordable, secure way to
handle COBRA administration. Customers will appreciate the peace of mind you provide to them with
COBRACompli.
Make Value & Profits Happen Now With COBRACompli, you can quickly offer valuable COBRA administration services and build a prof-
itable revenue stream. We help you stand out from competitors who simply automate COBRA admin
processes and support them with a call center.
COBRACompli’s unique customer-focused service model combines knowledgeable experts who deliver
personal service to your customers with streamlined processes and a secure back office infrastructure.
2 The Independent Payroll Provider Partner Program | From MyHRConcierge
• Reduce financial risk from COBRA non-compliance
• Streamline COBRA administration for them
• Decrease their business overhead
• Meet their COBRA deadline & documentation requirements
• Stay on top of ongoing changes to COBRA regulations
• Respond quickly & accurately to inquiries
• Save time, dollars & hassle by partnering with the COBRACompli team
1 point of contact | 1 implementation | 1 invoice
COBRACompli’s unique customer-
focused service model combines
knowledgeable experts who deliver
personal service to your customers
with streamlined processes and a
secure back office infrastructure.
The COBRACompli™ Services SuiteProtect your SMB customersfrom financial risk with COBRACompli’s Administration and Support
Ask Us AboutTax-Advantaged PlanDesign & SupportWe can help design andsupport a tax-advantagedcompliant COBRA plan foryour SMB customers.COBRACompli
AdministrationCOBRACompliSupport
Trust the COBRACompli team of expertsfor customer-focused support that helpsyou navigate intricate COBRA rules
• Easy-to-understand, precise guidancetailored for the SMB’s business objec-tives, workforce and situation
• Help for SMBs and their participantswhen they need it
• Convenient, secure online access forthe SMB and their participants
• Monitoring of and quick response tochanges in COBRA regulations andcomplex situations
• Rapid system and process updates toaddress COBRA legislation changes
• Reports on all COBRA activity
1
2
ELIGIBILITY REQUIREDNOTICES
OPEN ENROLLMENT
PREMIUMCOLLECTION
RECORDKEEPING
CARRIERNOTIFICATIONS
AND MORE
MONITORCOBRA REGS
EMPLOYER REQUESTS
ACTIVITYREPORTS
PARTICIPANTINQUIRIES
ONLINE ACCESS
3 The Independent Payroll Provider Partner Program | From MyHRConcierge
Count on COBRACompli to handle theadministration details for your SMBcustomers• Send required correspondence to qualified
employees • Track dates• Collect premium payments from participants
promptly• Remit premium payments to the employer with-
out delay• Communicate enrollments to the carrier• Remove terminated employees from coverage
$
?
www.myhrconcierge.com855-538-6947 Ext. 108
FREE Consultation for Independent Payroll Providers
Contact Chris Cooley:
The COBRACompli™ Difference
Count on us to help your SMB customers start and run a new COBRA
administration program – Or manage an existing program. They can rely
on COBRACompli to handle the complex details that often drain their
time. It frees SMBs to handle what really matters to their business.
Designed for SMBsCOBRACompli enables you to deliver a more personal, simpler and more affordable approach toCOBRA compliance that focuses on the needs of SMBs.
Reach a Person Vs a Call CenterOur COBRACompli experts know business, workforce management, federal and state complianceincluding COBRA as well as benefits. This enables us to support the specific needs of each customerrather than simply spouting out COBRA regulations.
Solid & Secure InfrastructureThe COBRACompli platform and processes are built to managethe complexities of compliance within a secure environment.This includes a leading, enterprise-class, central system of recordfor COBRA administration.
Always Available to Your Clients & Their ParticipantsCOBRACompli delivers a full-featured online experience for SMBs and theirparticipants. They get secure, real-time access to information through an onlineportal.
Build CompetitivePayroll BundlesAdd low-cost HRservices SMBs value
Offer a Higher Levelof HR SupportAdd services SMBs can grow into
Step Up to EmployeeBenefits SolutionsFend off old & newcompetitors
The Independent Payroll Provider Partner Program | From MyHRConciergeMake it easy and affordable with a la carte HR services [ click here for more details ]
COBRACompli-IPP-partner-broch-6/2018