» Top 10 COBRA Mistakes
June 1, 2014
The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) requires that employers provide former employees and dependents who lose group health benefits with an opportunity to continue group health insurance coverage for a limited period of time. Compliance with the complex rules regarding COBRA coverage can be difficult and mistakes can be costly. Penalties for non-compliance can include IRS excise taxes and ERISA statutory fines.
Top 10 mistakes:
#10—ASSUMING COBRA DOESN’T APPLY TO YOU
#9—ASSUMING COBRA DOESN’T APPLY TO YOUR PLAN
#8—Not Knowing Who Gets COBRA and When
#7—Giving No Information
#6—Giving Bad Information
#5—Not Following Your Own Rules
#4—Not Giving Enough Coverage
#3—Charging Too Much (or Not Enough)
We have staff dedicated to handling COBRA compliance – contact us for information on how we can help you with the above common problems.
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