When it comes time to renew, ADPIA can review your current coverage, help assess your business and employee needs, share industry insights, and provide you with access to the latest benefits coverage and cost options. ADP Workforce Now integrates with top benefit carriers, helping streamline the exchange of data for plan setup, enrollment and billing. Your HR and finance teams will no longer need to manually enter benefit plan information and keep it updated across multiple systems. This helps reduce the risk of data entry errors and saves hours of valuable time.
- To maximize any potential tax savings when paying for qualified employee benefit plans, employees need the ability to make pre-tax premium payments.
- COBRA requires employers who sponsor group health plans to offer continuation coverage to employees, spouses and dependent children when group health coverage would otherwise be lost due to certain specific events.
- We’ve streamlined the way your employees will pay for their commute to and from work.
- Employers have the ability to Recruit the ideal employee, Retain valuable employees Decrease costly absenteeism, and Improve your bottom line with a Wellness Plan offering.
How long does COBRA coverage last?
Employers generally must comply if they have 20 or more employees. However, that number can be difficult to define if the size of the workforce fluctuates throughout the year or if there are numerous part-time employees. Attract, retain and reward employees with 401(k), Simple IRA, or SEP IRA plans. Our experienced service team and modern tools simplify retirement planning for both you and your workforce. When you work with Automatic Data Processing Insurance Agency, Inc. (ADPIA®), licensed professionals help you select the right group health and business insurance plans to support your employees and your bottom line.
Streamline administration with help from experts
Simplify the process even further with our direct billing service through our convenient online portal. COBRA insurance adp cobra services costs can be expensive because most employers require plan participants to pay the full premium. However, the maximum amount charged to qualified beneficiaries generally cannot exceed 102% of the plan’s total cost of coverage for similarly situated individuals covered under the plan. They also must provide certain notices to plan participants at specific times. A Specialty Account, also known as a Lifestyle or Wellness Account, allows employers to assist employees in paying for specific expenses.
Give Your Team an Instant Raise
Employers have the ability to Recruit the ideal employee, Retain valuable employees Decrease costly absenteeism, and Improve your bottom line with a Wellness Plan offering. Omega can assist employer’s in creating Wellness Programs that are customized to their employee’s unique needs. From fitness to health and diet, Omega will help you prioritize your employee’s well-being. Keep in mind that an employer is not required to provide retirement or group health plans. 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.
Health Reimbursement Arrangement (HRA)
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. 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. Omega’s HSA allows employers to provide participants with a pleasant & efficient user experience.
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- Omega’s HRA solution is a breeze for employers and participants alike.
- Ensure you aren’t discriminating in favor of highly compensated or key employees by performing non-discrimination testing at least twice per plan year.
- When you work with Automatic Data Processing Insurance Agency, Inc. (ADPIA®), licensed professionals help you select the right group health and business insurance plans to support your employees and your bottom line.
- 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.
You should seek guidance from your personal business and legal advisor(s) if you need specific advice. This post-tax benefit is all about the wellbeing of your workforce. Encourage healthy behaviors through a variety of expenses designed to meet your team where they’re at in life. Expenses are fully customizable, but typically related to employees’ physical, emotional, and financial wellness.
Omega’s HRA solution is a breeze for employers and participants alike. Our easy-to-use technology platform coupled with first rate participant education & enrollment support services makes Omega an industry leader in the administration of HRA programs. Omega Benefit Strategies delivers an FSA program that helps employees maximize their tax savings, all while reducing out of pocket medical expenses. Our FSA integrates enrollment, plan contributions and claims, all backed by world class customer service & support.
Your business is assigned a dedicated, knowledgeable representative who’s ready to simplify your benefits administration. ADPIA can help you develop and execute a timeline for an effective open enrollment. We provide the tools and support you need to minimize paperwork, answer questions and help your employees better understand the full value of their benefits.
Benefits administration
Our all-in-one PEO solution doesn’t just handle benefits administration tasks for you, it also covers plan design, carrier relations, open enrollment and even employee communications. Everything is personalized to the unique needs of your workforce. COBRA provides a temporary extension of employer-sponsored group health coverage for employees and their family members (qualified beneficiaries) in certain situations when a qualified event causes loss of coverage.
However, due to the complexity of the law and the high risk of penalties and lawsuits, many employers outsource their administrative responsibilities to third-party providers. ADP give brokers secure access to eligibility, enrollment, and plan data, helping them support your strategy and respond faster to employees needs- without chasing paperwork. We’ve created automated solutions that go to work for you by meeting every regulation. 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. We’ve streamlined the way your employees will pay for their commute to and from work. We’ll set them up with monthly savings and a variety of convenient options to pay for their ride.
When in doubt, it’s always best to consult a legal professional. Omega’s COBRA solution streamlines compliance requirements, mitigating risk for our employer clients. Omega’s team of COBRA specialists will keep you abreast of all changing COBRA requirements in a timely, efficient manner. But in the era of Covid the rules are changing frequently and can be difficult to keep up with. Mitigate the risk noncompliance by allowing Omega Benefit Strategies to manage your COBRA administration needs.