Sheakley COBRA Administration services help you manage benefits compliance under the Consolidated Omnibus Budget Reconciliation Act of 1985. This federal law requires you to offer certain qualified beneficiaries the option of continuing group health plan coverage following a termination or other qualifying life event.
Under COBRA law, the employer must follow specific guidelines and strict timetables when offering continuation options to the individuals losing coverage under their group health plans.
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Any employee eligible for COBRA is considered a Qualified Beneficiary. Those who can be considered Qualified Beneficiaries are:
• An employee
• A former employee
• A retired employee
• The dependent children of any of the above (including adopted and placed for adoption children)
• The spouse of any of the above
• Children covered by the plan pursuant to Qualified Medical Child Support Orders
• Individuals who are covered by the plan who are self-employed persons, agents or independent contractors (and their employees, agents and independent contractors)
• Corporate directors
COBRA coverage is limited to either 18 or 36 months, depending on the qualifying event. Eighteen-month events are generally limited to those that only affect the employee (termination, reduction of hours), whereas the 36 month events are limited to those that affect the covered spouse or dependents of the employee (death of employee, employee’s Medicare entitlement, divorce/separation, dependent ceasing to be a dependent). The 18 month time frame can be extended to 29 months for the disability of the covered employee or to 36 months for a second event.
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We really appreciate that you’re always on top of these things for us! I don’t know what we’d do without you folks.
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