Gain a better understanding of COBRA compliance, risk mitigation, and how to use COBRA benefits in employment and severance agreements.
The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) is a federal law which requires an employee group health plan to offer covered employees and their family members the opportunity to temporarily continue health coverage under the plan at group rates. This program is designed to help employers, as well as group health plan and COBRA third-party administrators, understand COBRA compliance and risk mitigation, and use COBRA benefits in employment and severance agreements. After attending this session, you will be able to determine whether COBRA, or a state-law version of COBRA applies to your business.
This program will provide attendees with a basic understanding of the COBRA compliance process. This includes what triggers the employer’s obligation to offer COBRA benefits (and to whom), notification to the plan administrator, sending an election notice to the QB ‘qualified beneficiary’ (typically, but not always, the employee), the QB’s election (or not) of COBRA coverage, and the QB’s making of premium payments. The topic will also discuss the common sources of potential legal liability, and the ability to quantify the legal risk. Lastly, this topic will increase your ability to implement action steps to mitigate legal risk.
Learning Objectives
- You will be able to review COBRA basics.
- You will be able to identify which employers are subject to COBRA.
- You will be able to discuss qualified beneficiaries.
- You will be able to explain periods of COBRA coverage.
Agenda
- COBRA - the Basics
- Which Employers Are Subject to COBRA?
- Is the Plan a Group Health Plan?
- Qualified Beneficiaries
- Events That Trigger an Employer’s Obligation to Offer COBRA
- Periods of COBRA Coverage
- Notice and Notification Requirements
- Electing Coverage
- COBRA Benefits
- Qualified Beneficiaries’ Premium Payments
- COBRA Compliance in the Mergers and Acquisitions (M and A) Context
- Employer Policies That Offer Group Health Continuation More Favorable to Employees Than COBRA
- COBRA Provisions in Employment Agreements and Severance Agreements
- COBRA Litigation
- Mitigating Legal Risk
Speakers
Ira L. Blank,
The Enterprise Law Group, LLC- Managing member of The Enterprise Law Group, LLC, a business law and litigation boutique
- Helps business owners and business leaders develop employee benefits strategy
- Applies his unique background in strategic and operational HR; labor relations; employment, labor, and employee benefits litigation; and mergers, acquisitions, and divestitures, to help business owners and business leaders confront and resolve their employee benefits challenges
- For over 15 years, served as vice president – human resources and human resources counsel for a company with 1,000+ employees, developing the HR services, including the employee benefits offering, and representing the company in all employment litigation
- J.D. degree, Washington University; Master of Industrial and Labor Relations degree, Cornell University; B.S. in Commerce and Business Administration degree, University of Alabama
Who Should Attend
This live webinar is designed for human resource and benefits professionals, payroll managers, business owners and managers, controllers, and insurance professionals.
