COBRA Administration Services
COBRA is the most commonly outsourced HR function. Parlay Benefits uses best practices for COBRA, ensuring consistent and reliable compliance.
Penalties
- TAMRA penalties are $100 per day per violation
- ERISA penalties are $110 per family member
Beyond The Fines
- Employers could face lawsuits leading to monetary judgments, attorney’s fees, and court costs
- Employers may be obligated to pay medical bills if you can’t prove you offered COBRA within the DOL requirements
- The Insurance carrier can recover claim payments if COBRA was offered too long or if the employer accepted late payments
We exceed DOL COBRA notification time frame guidelines to protect our clients. The following features or notices that go beyond the standard requirements to assist participants and employers in the process.
- Non-availability of coverage notice
- Termination of COBRA continuation coverage notice
- Payment coupons
- Failure to elect COBRA notice
- Late payment notice
- Notice of COBRA premiums short by an “insignificant amount”
- Notice of change of COBRA premium
- Individual conversion policy notice
- Required California notices
- Alternative coverage options (if available)
Qualifying COBRA Events: Employers should notify Parlay Benefits of the following COBRA qualifying events and we will ensure the proper actions are implemented.
Voluntary termination Involuntary termination
Divorce or legal separation Dependent child ceasing to be a dependent
Death of employee Reduction in employee hours
Eligible Coverages:
Medical Prescription
Dental Health FSA
Vision HRA
Compliance Assurance
Parlay uses a proven administration model and ensures your ongoing compliance. We handle all the regulation timelines from set up to premium collection.
Notification letters Qualifying event letters
Premium billing and collection HIPAA certificates are included
Rate change notices Termination letters
Management of COBRA elections, payment dates, and untimely submissions