COBRA administration is a daunting challenge for many employers. That’s because it’s a time-consuming process involving complex regulations and rules that are time-sensitive and change frequently.
What makes it even more unnerving is that COBRA noncompliance can result in hefty penalties, fines and consequences for employers, including:
Given the gravity of maintaining compliance with COBRA rules, many employers opt to outsource COBRA administration to their employee benefits broker, who can manage tasks, reduce their administrative burden and help them maintain compliance with this important federal law.