benefits blueprint

COBRA is a program that allows certain employees to continue group health coverage that may otherwise be terminated.

Utilizing the benefits of COBRA can make your benefits package much stronger, ultimately benefiting both you and your employees. As part of your Benefits Blueprint, Bond will help you understand all of the parameters and qualifying elements for successful implementation of COBRA. Our free COBRA Administration Services not only keep you in compliance with federal and state regulations but also alleviate HR’s compliance burden and increase business productivity by saving processing and customer service time.

COBRA stands for Consolidated Omnibus Budget Reconciliation Act, which is an amendment to the Employee Retirement Income Security Act (ERISA), the Internal Revenue Code and the Public Health Service Act. It requires that group health plans sponsored by employers, with 20 or more employees in the prior year, offer certain former employees, retirees, spouses, former spouses and dependent children the right to temporary continuation of group health coverage that may otherwise be terminated. Qualified individuals may be required to pay up to 102 percent of the full monthly premium.