Benefits Administration and Insurance Solutions

Industry analyst firm NelsonHall recognized ADP as an Overall Leader in its Benefits Administration NEAT Assessment 2024 for our ability to drive digital transformation and meet clients’ unique needs. Your technology can have a wide-ranging and positive impact. LEAP is our platform that puts everything you need at your fingertips. Is there a topic or business challenge you would like to see covered on SPARK?

Our benefits and COBRA mobile apps were built with that in mind with a simple, and modern experience whether your employees are on mobile or online. Depending on the qualifying event, COBRA lasts for 18 or 36 months from the qualifying event date. A group health plan may provide longer continuation periods than what is required by law. COBRA requires continuation coverage to extend for a limited time period of 18 or 36 months from the date of the qualifying event.

Save 65% off your COBRA Premium

Give your employees a discount on eligible dependent care expenses and we’ll give them streamlined and automated experience. This benefit also covers expenses for dependent parents or spouses. Help your employees achieve their short and long-term savings goals with an HSA. Our personalized approach will keep them on track whether they’re paying for healthcare expenses they have now, saving for the future, and/or investing to build wealth in retirement.

How Does ADP Help With COBRA Insurance?

We are a licensed in all 50 states and nationally recognized by the federal health insurance marketplace. Our goal is to sincerely help people access and understand insurance. It should be used as a starting point in analyzing COBRA administration and is not a comprehensive resource of requirements. It offers practical information concerning the subject matter, which is provided with the understanding that ADP is not rendering legal or tax advice or any other professional services. You should seek guidance from your personal business and legal advisor(s) if you need specific advice. COBRA insurance costs can be expensive because most employers require plan participants to pay the full premium.

Wisely® Pay

• The IRS and DOL can levy fines and taxes for noncompliance with COBRA, including excise taxes of $100 per day for each qualified beneficiary impacted by a failure during a compliance period.
• Leverage powerful and agile benefits administration solutions — designed to make things simple, drive employee engagementand help you win the war for talent.
• When in doubt, it’s always best to consult a legal professional.
• From the employee’s perspective, the group benefits provider is often the employer.
• Help your employees achieve their short and long-term savings goals with an HSA.
• Examples of traditional benefits include health and dental care, life insurance and retirement savings plans.

Our simple, three-step solution will keep your health plans compliant and give you peace of mind. Lean on our direct bill solution to manage premium payments for individuals in your retiree population or those who are furloughed or on leave of absence. And if they have questions, our service experts will have the answers. Your HRA plan design is customizable so you have the flexibility to create a benefit your employees want. Our payment automation capabilities speed up reimbursement for your employees, while our mobile app provides the transparency they need. We manage almost all aspects of our lives from the palms of our hands.

Access my 401(k) and Retirement

The knowledge and expertise needed to properly administer COBRA requires extensive training, which is often disproportionate to the number of qualifying events. COBRA administration can also be stressful and time-consuming. Employers who experience high employee turnover or numerous qualifying events can be quickly overwhelmed by the amount of work required. Benefits tend to fall into two categories – traditional and unique.

Partner Education & Resources

We put all of their benefits on one card backed by intuitive technology that pulls money from the appropriate plan. Participants can obtain additional cards for themselves or their family. What do business owners need to know about COBRA compliance? Many plans have $1 million in coverage after deductibles and coinsurance.

• In addition, employers who administer COBRA incorrectly may be sued by employees and held responsible for paying individual health care claims for qualified beneficiaries, among other costs.
• We will continue to monitor this situation closely and work directly with our clients to help them navigate this change.
• Your former employees can manage it all on their mobile app and our empathetic service experts will be there to support every step of the way.
• To help meet COBRA compliance requirements, employers must provide information about participants’ COBRA rights and options, plan details and the timeline of coverage.
• The services are provided by an independent third party and not provided by ADP and ADP is not responsible for such third party’s products or services.
• The qualified beneficiaries may have to pay for COBRA coverage themselves, though plan sponsors sometimes provide it at reduced or no cost.
• Now, all that information is at an employee’s fingertips and they can understand their coverage, what they’ve chosen, who’s eligible and who their dependents are.

COBRA requires employers to offer continuation coverage to “covered employees, former employees, spouses, former spouses, and dependent children when group health coverage would otherwise be lost due to certain qualifying events.” To thrive, your business needs to attract and keep the best and brightest employees. ADP and its affiliates have got your back with standout benefits like retirement plans and group health insurance, as adp cobra services well as benefits administration and business insurance.