Please read carefully for important information regarding your renewal.
At the beginning of each plan year, BASIC NEO sends each COBRA Participant a new set of payment vouchers for the entire plan year (12 months or however many months they have remaining on the coverage if less than 12 months).
According to our records, the premium rates for one or more of your COBRA eligible benefits are due to change on March 1 when you renew that benefit. So that we may continue to provide accurate and compliant COBRA services to your organization, please complete the enclosed Benefits Renewal Request form and return to us.
Please Note: If incorrect benefit information, including premium amounts, are provided during your rate submission, additional fees may be assessed for reprocessing benefits and mailing notices or billing invoices that must be resent.
Once we receive your new rates we will send your current COBRA participants new premium payment vouchers. They will use these to continue submitting their COBRA premiums to BASIC NEO. The last payment voucher your participants have is for the premium due on the 1st of the month prior to the rate change. Please provide us your premium rates on or before February 28th.
SPECIAL NOTE: If you are unable to provide new rate information on or before the specified date above, we will print and distribute payment booklets using the current rates. This may result in premium shortages that we will not be able to go back and collect.
COBRA Compliance Reminder for Open Enrollment:
Did you know that all of your COBRA Participants and Qualified Beneficiaries (anyone who is currently in their 60-day COBRA election period) are entitled to the same election rights as your active employees during your open enrollment period and must receive the same open enrollment materials?
As a valued BASIC NEO client, we can help you remain complaint by distributing and tracking your Open Enrollment for these individuals as an extension of our COBRA administration services. Click here for more information about how outsourcing this responsibility to BASIC NEO can help allow your current staff to be available for other responsibilities
As a reminder, it is the Plan Administrator’s responsibility to notify BASIC NEO of the need to send an Initial Notice in a timely matter. Federal law requires that COBRA information be provided to employees and their spouses who have enrolled into your benefits within the first 90 days after the coverage has begun. This includes newly covered employees at Open Enrollment time. If you have any questions regarding Initial Notices please contact the COBRA Department.
We thank you in advance for your prompt attention to this matter. Please contact us at COBRA@BASICNEO.com or 330.864.0690 x2 if you have any questions.
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