With the service, the bagnall company will contact the employer to get authorization to work directly with its COBRA administrator. This can typically be done by providing a letter of authorization giving bagnall approval to request a monthly report of anyone on COBRA or in the 60-day COBRA election window.
The company then works directly with the COBRA administrator to request monthly reports with COBRA individual names and phone numbers. The bagnall company’s partner, Anderson Insurance Services, then calls individuals for an introduction and to make them aware that either before they elect COBRA or after their 18, 29 or 36 months of COBRA expires, it can assist them with finding an individual insurance plan (or an individual plan through the health insurance exchange) that may offer similar (or better benefits) for a lower cost.
This service may save hundreds of dollars for those employees looking for an alternative. “This is also a win for the employer as it can improve an employer’s medical loss ratio by reducing medical claim utilization, which is tied to yearly medical renewal increases,” says Cynthia Walter, RHU, REBC, vice president – account management & COO at the bagnall company.
To learn more, contact Walter at 480-893-6622 or firstname.lastname@example.org.