Best practices to prepare your company for a successful and smooth Open Enrollment with COBRA.
Important items to note when preparing for a successful Open Enrollment for COBRA with EverythingBenefits as your TPA.
- As Open Enrollment approaches make sure to keep your COBRA contact at EverythingBenefits informed of any plan updates that your company is making.
- Please confirm your Open Enrollment rates via the normal workflow in your EverythingBenefits COBRA system.
- Providing plan summaries along with your Open Enrollment data will help EverythingBenefts best support your COBRA users, and minimize the number of questions that we may need to come to you to help with when answering your COBRA users inquiries.
- Provide EverythingBenefits with any updates to Carriers/Plans and/or updated rates at least 30 days prior to your Open Enrollment period.
- Any Open Enrollment request that is submitted less than 30 days prior to the beginning of your Open Enrollment period will not be considered timely and will be subject to rush processing fees.
- EverythingBenefits will handle Open Enrollment with your Active COBRA subscribers by:
- Notifying them of Open Enrollment
- Sending them their Open Enrollment notice
- Sending them any Open Enrollment literature that you provide, i.e. Plan Summaries, etc.
Open Enrollment fees for COBRA include:
- COBRA Administration Standard Open Enrollment Cost: $500/Year (covers 3 carriers)
- New Carrier(s) COBRA set-up (if applicable): $1,000 per implementation
- Late / Rush (if applicable): All applicable fees will be doubled