The COBRA Payment Process

The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) allows qualified beneficiaries who lose health benefits due to a qualifying event to continue group health benefits. The COBRA payment process is subject to various rules in terms of grace periods, notification, premium payment methods, and treatment of insignificant shortfalls. Grace Periods The initial premium payment […]

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Determining COBRA Premiums for Fully Insured and Self Funded Health Plans

Determining COBRA Premiums for Fully Insured and Self-Funded Health Plans The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) allows qualified beneficiaries who lose health benefits due to a qualifying event to continue group health benefits. While some group health plans may provide COBRA continuation coverage at a reduced rate or at no cost, most qualified […]

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COBRA Notices

The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) requires group health plans to provide notices to covered employees and their families explaining their COBRA rights when certain events occur. The various notices described below are subject to different timeframes and requirements under COBRA. Initial Notice The initial notice, also referred to as the general […]

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Time is almost up! Sign up now for the February Webinar – Controlled Groups & Affiliated Service Groups: What Employers Need to Know

BIM Group is pleased to extend an invitation to attend our upcoming monthly compliance Webinar. In conjunction with our alliance with United Benefit Advisors, you have the opportunity to learn more about the latest compliance trends and regulations from one of the nations leading employment and benefit law firms, Jackson Lewis LLP. Best of all, you can […]

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Compliance Recap // December 2015

2015 went out with a bang, as federal agencies and the White House issued a number of major delays relating to employee benefits. Most significantly, IRS reporting for the Patient Protection and Affordable Care Act’s play or pay requirement has been delayed, for both forms being sent to employees and forms being sent to the […]

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IRS Final Rule on Minimum Value

In December 2015, the Internal Revenue Service (IRS) issued a final rule that clarifies various topics relating to the Patient Protection and Affordable Care Act (ACA) and premium tax credit eligibility provisions. The rule finalizes regulations that were proposed years earlier. Child Income The final rule clarified language relating to the calculation of a taxpayer’s […]

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