COBRASOURCE is a premier provider of COBRA insurance, benefit administration and Flexible Spending Accounts for your employees. By outsourcing these HR benefits to COBRASOURCE, you will benefit from the transferring of liability from your organization, streamline your employee health insurance operations and ensure compliance with regard to claims administration, COBRA health insurance, FSA benefits, and cafeteria plans. Our team of employee benefit experts possesses years of experience in the field, and our customized COBRA and insurance coverage software will provide seamless integration of your health insurance benefits.
As an HR administrator, you have many important duties to manage on a regular basis, especially when it comes to handling the many facets of employee benefits administration. COBRASOURCE can handle the details of your health care benefits package on your behalf, from health care claims to health insurance billing. Additionally, as insurance administration experts, we will monitor and keep you apprised of any changes to the COBRA law that you should be aware of, as well as modifications to IRS tax codes as they relate to employee benefits.
Health care benefits are important not only to you, but your employees. They count on their health benefits, including dental healthcare and child health insurance, to be administered properly and expect to be protected through HIPAA compliance. And, employees not only want their health insurance coverage to be first-rate, but they want their medical claim forms to be simple and their health insurance claims to be handled with ease. We can give you and your employees the peace of mind that the details are managed appropriately every step of the way.
And, while employee health benefits are important to your staff, each of your employees has different health coverage needs. This is why a cafeteria plan, also known as a Section 125 Plan, is essential. Through this plan, employees can obtain health insurance, select a flexible spending account, and more. Implementing a Section 125 plan provides tax savings advantages for both employer and employee, with both parties saving on taxes and increasing spendable income, while remaining compliant with IRS regulations.
An additional benefit to both employers and employees is the Health Reimbursement Account. The HRA offers employees a substantial tax savings of up to 35% on health care related costs that are not covered by medical insurance. With our assistance, and through the FSA worksheets, FSA participants will establish a realistic medical savings account. Throughout the year, FSA participants will draw on this account to pay for prescriptions, deductibles, co-pays, etc., using pre-tax dollars.
Although you may feel well-equipped to handle your employee benefits internally, you need to consider the wide range of benefit needs of your employees, the sheer time it takes to administer these benefits, and the different rules and laws that you need to know. Don’t leave your organization open to potential risks of non-compliance. Let the experts at COBRASOURCE streamline your employee benefits administration. From managing employee benefit plans to providing assistance with specific health administration needs, we can ensure your company’s compliance and your employee’s satisfaction.