FOR EMPLOYERS WITH 20+ EMPLOYEES (COBRA)
Mar 27, 2009
by Ken Hamil, CLU, ChFC, RHU
Eligible individuals pay only 35 percent of their COBRA premiums and the remaining 65 percent is reimbursed to the coverage provider through a tax credit. The premium reduction applies to periods of health coverage beginning on or after February 17, 2009 and lasts for up to nine months for those eligible for COBRA during the period beginning September 1, 2008 and ending December 31, 2009 due to an involuntary termination of employment that occurred during that period. The TAA Health Coverage Improvement Act of 2009, enacted as part of ARRA, also made changes with regard to COBRA continuation coverage.
You may handle your COBRA administration internally or it may be outsourced to a Third Party. Whoever handles your COBRA administration will need to be updated on this legislation and begin to use the new notices. The applicable notice must be provided by April 18, 2009.
If you would like more information you can visit the Department of Labor website at: http://www.dol.gov/ebsa/cobra.html
or contact a Partners Benefit Group agent in your area.
Benergy Portal Creates Total Access
Attention HR Directors! Offer your employees access to information about their account such as benefits enrollment, total compensation statements and FSA administration on one, easy to use web-based product, Benergy. The new PBG website offers a quick link to the Benergy portal right on the front page. Potential or first-time users can review demo's and learn more about the product by clicking on our main navigation link, "Products" and then "Benergy."
For quick introduction, Benergy is an online employee communication platform offering employees information about their employer's sponsored group benefits. The Benergy site, customized with your company's logo, is presented as...