COBRA Compliance – Test Your Knowledge

Written by Joanna Morrow

Joanna Morrow, Principal and Founder of Employer Benefits & Advice, is an employer consultant and advocate who has worked in the employee benefits industry for over two decades. She works diligently to help employers overcome obstacles in their business by sharing her expertise in Human Resources, Benefits & Compensation, Process Mapping, Risk Management and ERISA/DOL/IRS compliance. She is a licensed life and health insurance professional in the State of Arizona and is an active member of the National Association of Health Underwriters (NAHU).

COBRA Compliance – Test Your Knowledge

As the Department of Labor (DOL) and the Internal Revenue Service (IRS) ramp up audit activity this fall, it’s important for employers to ensure they are in compliance with regulations that are typically on every auditor’s radar.

Once such area is the Consolidated Omnibus Budget Reconciliation Act (COBRA) which requires certain employers to offer terminated employees the opportunity to continue their group healthcare coverage under the employer’s medical plan following termination.

Businesses that fail to comply with all aspects of COBRA can face legal issues and financial penalties.

IRS penalties include fines of $100 a day, per beneficiary, for noncompliance. That can add up quickly!

Take this short 11-question quiz to test your knowledge of COBRA and identify any potential violations before an auditor finds it for you.

COBRA Compliance Quiz – Test Your Knowledge.

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The proper notices and tedious recordkeeping involved with COBRA make it a perfect opportunity for outsourcing your COBRA administration. Contact us if we can help.