Some technology is a luxury. Other technology is more of a necessity. If you’re in charge of COBRA processes, your COBRA administration software falls into the latter category. Without the right technology, you’re wasting time and resources. Even worse, you could be leaving yourself vulnerable to fines and lawsuits.
Technology Gaps Waste Resources
There’s a lot to keep track of in COBRA administration. You have to keep up with notices, elections, payments and open enrollment – and that’s during normal times. Changes – like the new rule that extends the deadline for COBRA elections in response to the pandemic – make matters even more complicated.
The switch to remote work is yet another complication. Whether you’re working from home or the office, notices still need to go out on time. Payments still need to be collected and processed. Everything still needs to be done, and it needs to be done right and on time.
Managing all of these moving gears can be a challenge, especially if you’re trying to do it manually. Automation can free up your time, so you can focus on other things, but that’s only one reason to embrace technology…
Technology Gaps Can Lead to Liability Exposures
COBRA administration needs to comply with some very strict legal requirements.
Recently, a surge in COBRA lawsuits proved just how important meticulous compliance really is. Notices need to be sent out on time. They also need to include all of the necessary information. One small slip up could result in a large lawsuit.
On top of the federal COBRA requirements, many states have their own health coverage continuation laws. These laws may create requirements for small employers not subject to the federal COBRA laws. State laws may also create different requirements for coverage periods, allowable administrative fees, and other issues. Employers operating in multiple states need to keep track of multiple state COBRA laws.
Trying to do all of this manually can lead to errors – and errors can lead to lawsuits.
Does Your System Suffer from Technology Gaps?
With the right COBRA administration system, you shouldn’t have to worry about wasted resources or compliance issues. Ask yourself:
- Does your system let you automate processes to save time and reduce the chance of errors?
- Does your system give you convenient access to the COBRA data you need?
- Does your system allow you to work from anywhere without hassle?
- Does your system provide the security and reliability you can count on?
- Does your technology allow you to administer all state regulations and unique situations?
If you answered NO to any of these questions, you might be dealing with a serious technology gap. Travisoft can help. We can say YES to all the questions above and unlike most systems, which only manage federal COBRA, our software manages both federal and state COBRA compliance with ease.
We are your go-to COBRA administration experts. As the nation’s first COBRA administration software provider, we support you with more than 32 years of experience.
Download the COBRA Administration Software Buyer’s Guide to learn more.