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Products March 25, 2009
Software Firm Helps Employers Meet New COBRA Rules
March 25, 2009 (PLANSPONSOR.com) - Benefit Software
Inc., a software provider foronline employee benefits
enrollment and communication, announced it has a new tool to
help employers identify those who are eligible for COBRA
benefits and a subsidy recently passed in the economic
stimulus bill.
Reported by Rebecca Moore
The American Recovery and Reinvestment Act (ARRA) provides a 65% federal COBRA premium subsidy for nine months for employees who are laid off between September 1, 2008, and December 31, 2009 (see H.R. 1 Contains COBRA Provisions ). Employers will have to identify who is eligible and provide timely notification of eligibility.
Benefit Software says a feature in its Fringe Facts Online enrollment solution issues timely reports on COBRA status changes that will trigger employee eligibility.
Fringe Facts Online combines self-service features with administrative functionality and can be customized to not only handle COBRA, but other needs such as implementing rules to trigger Evidence of Insurability (EOI) forms, handling calculations for life insurance values, and making options for pocket health plans available, the company said.
More information is at www.bsiweb.com .
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