COBRA Admin Fees Waived by VantagePoint
Last Updated on May 6, 2020 by VantagePoint
VantagePoint Waives New COBRA Administration Fees for 6 Months*
Furloughs, layoffs, and COBRA rules
Did you know?
When the carriers revert to their eligibility minimum this creates a COBRA event.
If a furloughed employee is ultimately discharged this creates a COBRA event.
If a full-time employee returns on a part-time basis, this creates a COBRA event.
If you had a furlough or layoff due to COVID-19 and any of these situations apply, VantagePoint will waive your monthly participant administration fee for 6 months.
COBRA law is complicated. Administering it is burdensome.
- If done incorrectly will probably lead to lost premiums, substantial fines, & lawsuits.
- Throw in conflicting state rules and you have a handful to manage.
COBRA places multiple burdens on employers.
- Notification requirements are borne by the employer under multiple scenarios including termination, reduction in hours, age-out, divorce, death, and many others.
- COBRA also requires employers to collect and reconcile premiums, and in many cases ‘front’ the premiums on behalf of the COBRA participant.
- Each step in the process has its own unique deadlines.
- COBRA affects all companies, even if you only have one (1) employee.
If you are furloughing or bringing back employees and want to know the impact on your business, don’t wait to call us.
* COBRA administration must begin May, June, or July 1st to utilize this 6-month promotion. Setup and mailed notice fees still apply.
Get in touch with us for more information!