ACA Reporting
ACA Compliance Lessons Learned From Recent Reporting Seasons
Common themes emerge when reflecting on recent ACA reporting seasons that can help employers reduce administrative burdens and improve accuracy.
COBRA
Question of the Week - When Does COBRA Coverage Begin?
When does COBRA continuation coverage begin after a qualifying event? COBRA coverage begins on the date that group health coverage would otherwise end due...
Q: When does COBRA continuation coverage begin after a qualifying event?
A: COBRA coverage begins on the date that group health coverage would otherwise end due to the qualifying event. For example, if an employee loses coverage because of termination of employment or a reduction in hours, COBRA coverage is effective the day after the employer-sponsored coverage ends.
Although qualified beneficiaries have up to 60 days to elect COBRA, coverage is retroactive to the date coverage was lost, provided the individual elects COBRA and pays the required premiums within the applicable deadlines. This ensures that there is no gap in coverage during the election period.
Benefit Allocation Systems (BAS) provides online solutions for: Employee Benefits Enrollment; COBRA; Flexible Spending Accounts (FSAs); Health Reimbursement Accounts (HRAs); Leave of Absence Premium Billing (LOA); Affordable Care Act Record Keeping, Compliance & IRS Reporting (ACA); Group Insurance Premium Billing; Property & Casualty Premium Billing; and Payroll Integration.
MyEnroll360 integrates with major insurance carriers for enrollment eligibility management (e.g., Blue Cross, Blue Shield, Aetna, United Health Care, Kaiser, CIGNA and others), and with leading payroll platforms for enrollment deduction management (e.g., Workday, ADP, Paylocity, PayCor, UKG, and others).
This article is for informational purposes only and is not intended as legal, tax, or benefits advice. Readers should not rely on this information for taking (or not taking) any action relating to employment, compliance, or benefits. Always consult with a qualified professional before making decisions based on this content.
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