Software Features
COBRA Administration Manager - Standard Version
Things-To-Do List
Upon starting the program, the Things-To-Do List appears explaining what COBRA events need your attention. It will notify you when to send conversion notification, terminate people for nonpayment, enter new insurance rates and to send a COBRA completion letter. Just double click the shown event and the procedure is performed automatically. The Things-To-Do List tracks over 27 COBRA-related events so that you don't have to. With the Things-To-Do-List, you will not miss important events because it won’t let you!
Integrated Software is the Solution
It is essential to start and maintain a database that stores your firm’s COBRA information. Many organizations have created documents in a word processing program and billing information in an accounting package. Next, they need a database of active employees and a spreadsheet program to track the COBRA-related time frames. Without an integrated system, you have to enter information into four different software programs for one terminated employee.
The COBRA Administration Manager is an integrated program that stores the data in a single location and draws from that data for all COBRA notifications. A built-in word processor offers the ability to produce personalized documents that detail a qualified beneficiary’s rights under the law. Once COBRA is excepted, the billing function creates invoices and tracks COBRA premium payments.
Ease-of-Operation
No matter how powerful a software program is, if it isn’t easy to learn and operate - it won’t be used! The COBRA Administration Manager is a Windows-based program that has been setup similar to most programs. The program offers on-screen help and on-line manual (but most users never have a need to refer to them). A major reason for this is because the Things-To-Do-List handles most of the events for you, automatically.
Up-To-Date Notifications
The software interacts with the Internet to provide your firm with up-to-date COBRA notifications. The law changes all the time and without notice, your firm may be in jeopardy. With a click of a button, updated notifications are downloaded and available for your review and use. And with the built-in word processor, you have the ability to modify any of the documents, quickly and easily!
Updated for HIPAA and COBRA Final Regulations
With the passage of the Health Insurance Portability and Accountability Act of 1986 (HIPAA), the COBRA Administration Manager's notifications and database has been update to include the changes made to COBRA. The program will now prepare the Certificate of Coverage document that needs to be provided to all employees/dependents being terminated from a group plan. With over 25 changes made by the Final Regulations, the COBRA Administration Manager will maintain your firm's compliance with the law.
Monthly Reports
The key to administering COBRA is documenting everything! The COBRA Administration Manager produces up to 25 different reports detailing...
- Initial COBRA Notifications Prepared;
- Individuals Experiencing a "Qualifying Event;
- "Participant's Payment Status;
- A breakdown in Premium Payments;
- How Much to Reimburse Insurance Companies;
- Insurance Plan Enrollment;
- Dependents Over Eligible Age;
- Participants Past Due;
- A Participant's Payment History; and
- Who Should be Terminated from COBRA.
Premium Collection Methods
The Program offers three methods for collecting monthly premiums from COBRA participants. If you offer benefits to Retired Employees, the program has the ability to create invoices for them.
- Invoices - The program will create invoices for all COBRA Participants at the click of a mouse. Unpaid balances carry forward so that there is never an issue as to premiums due.
- Coupons - Much like a mortgage coupon book, the program creates a coupon detailing coverage and monthly costs. COBRA Participants send in their check along with the associated month's coupon and the program will track all payments.
- Do Nothing - Since the law does not require employers to provide a collection vehicle, you may elect to place the responsibility on the COBRA Participant. The system will update premiums due upon every new month.
COBRA Qualifier
Entering a COBRA Qualifier is easy. You simply enter the Qualifier's Personal information (i.e. name, social, address, dependents, etc.) then enter their insurance plan (medical, dental, & others), COBRA Qualifying Event reason, hire date and benefit start date. That's it. The COBRA Administration Manager will produce the employee's personalized COBRA Qualifying Event letter, with a HIPAA certificate of coverage attached.
COBRA Notifications
The program comes equipped with the necessary notifications and offers you the ability to edit/modify them to meet your corporate/state requirements. With the built-in word processor, you not only have the ability to edit letters but may create your own (and even include variable information). All notifications are personalized to the COBRA Qualifier/Participant and can be folded to have the address show through a #10 windowed envelope.
- Initial COBRA Notification (Required by Law)
- COBRA Qualifying Event Letter (Required by Law)
- Certificate of Coverage
- Four Different Termination Letters (Required by Law)
- Conversion to Individual Plan (Required by Law)
- Multiple Qualifying Event Letter (Required by Law)
- Rate Change Notification
- Personalized Open Enrollment Notice
- Short Payment Notification (Required by Law)
- Monthly Invoices
- Monthly Retiree Invoices
- Payment Coupon Booklet
Other Features
- Networkable (Up to 5 Users)
- 32-Bit Architecture
- Life Insurance/FSA Premium tracking
- COBRA Procedure Manual
- 36 month Billing Review
- Retiree Billing Program
- Recent COBRA Developments via internet
- Password Feature for security
- Routine Backup Procedure
- Import and Export critical data
- Track dependent’s ages for eligibility
- Mailing labels (30 to a page)
- Upgradeable to enhanced versions
- Produces HIPAA Certificates
- Open Enrollment Procedure