COBRA Administration Services
- Pekin Life Insurance Company carefully tracks COBRA-related events to ensure compliance with time sensitive requirements. COBRA law is complex, and timing of events is critical to compliance. Let us track your COBRA-related events.
- Pekin Life Insurance Company sends and keeps records of all the necessary COBRA documents and payments. You receive monthly reports of COBRA-related activity.
- Pekin Life Insurance Company keeps you well informed and compliant when legislation changes COBRA requirements. COBRA underwent 3 major legislative changes from 2009 through 2011. Changes included new data tracking requirements, new paperwork, and some retroactive application of the legislation. We helped employers successfully navigate the changes and sent new required notices in a timely manner so non-compliance penalties of $110 per day could be avoided. Quarterly tax filing was affected by these changes, and our COBRA reports helped employers coordinate their tax needs. Let us provide you with peace of mind when COBRA changes happen.
Pekin Life Insurance Company COBRA Administrators will:
- Determine whether a Qualifying Event has occurred.
- Determine who is eligible to receive COBRA coverage.
- Determine when required COBRA notices must be furnished and provide all required COBRA notices to employees, spouses, dependents, and Qualified Beneficiaries.
- Receive all required COBRA notices from employees, spouses, dependents, and Qualified Beneficiaries.
- Determine the date by which COBRA elections must be made and provide all necessary election forms.
- Receive and process duly executed COBRA election forms received from Qualified Beneficiaries.
- Determine whether a COBRA Continuation Coverage election is valid.
- Determine the duration of Continuation Coverage and whether an event has occurred terminating coverage.
- Receive and process premium payments from Qualified Beneficiaries for Continuation Coverage.
- If the Plan provides conversion rights, notify Qualified Beneficiaries of the right to convert to an individual health insurance policy upon the expiration of the COBRA Continuation Coverage Period.
- Maintain a roster containing the names of all COBRA participants.
- Be responsible for collection of due and unpaid premiums owed by Qualified Beneficiaries.
For more information about Pekin Life Insurance Company’s COBRA Administration, please contact:
800-322-0160, Extension 2576
Email: Email Carrie Jamieson