COBRA Administration HIPAA Administration Claims Assistance Services Section 125 Cafeteria Plan Administration Premium Only Plans (POP) Flexible Spending Accounts (FSA) Health Savings Accounts ( HSA )
Our service package includes the full management of activities required by the Consolidated Omnibus Reconciliation Act of 1986 (COBRA) and related amendments and legislation, including the Health Insurance Portability and Accountability Act of 1996 (HIPAA).
Professional Insurance and Financial Services partners with the leading COBRA and HIPAA administrators to provide these services to our clients.
We provide complete administration of COBRA continuation of coverage requirements for employers to include the initial notification of COBRA rights to participants when they first become covered under the health plan.
When a participant in the health plan has a qualifying event as defined in the regulations, the employer will notify our office. We provide the required notifications to the former participant and process the subsequent enrollment to continue the coverage with the plan. At the time of termination, we also provide the participant with a Certificate of Coverage as required by HIPAA.
We provide notification of termination of coverage to the participant and the health plan provider at the end of eligibility for the COBRA continuation of coverage, along with a second Certificate of Coverage as required by HIPAA. Certificates of coverage records are maintained for the full two-year period required and we provide all subsequent Certificates as participants and former participants request them.
Section 125 Administration
Our service package also includes full management of activities required to establish a Section 125 Cafeteria Plan Premium-Only-Plan (POP) or Flexible Spending Accounts (FSA).
Each Plan Year we provide our clients with the Plan Documents, Summary Plan Descriptions and Adoption Agreements required under Part 1 of Title 1 of the Employee Retirement Income Security Act (ERISA). We also assist employees in our annual enrollment and orientation meetings with the completion of their Salary Reduction Agreements, all facilitated by our state-of-the art Employee Benefit Communication system, SMARTBEN.