Businesses that use hr360 already know it is a complete online Human Resources Compliance Library full of must-have HR tools, forms, and guidance. It is an online library that features dynamic interactive HR tools at your fingertips. It assists employers every step of the way in order to stay compliant with major laws including Health Care Reform, COBRA, and FMLA as well as key HR tasks.
And now, hr360 has added a NEW COBRA Notices Generator tool to assist employers. The addition of the COBRA Notices Generator allows you to create the COBRA notices needed in 3 easy steps. Hr360 subscribers simply fill out the plan and administrator information, answer some questions, and download COBRA notices in a snap!
The COBRA Notices Generator will create:
- General Notice of COBRA Rights: Must be provided to employees and their spouses within the first 90 days of coverage under a group health plan.
- Notice of COBRA Qualifying Event: Must be provided to the plan administrator when the employee experiences a COBRA qualifying event.
- COBRA Election Notice: Must be provided to COBRA-eligible individuals to notify them of the COBRA coverage available to them when they experience a COBRA qualifying event.
- Notice of Unavailability of COBRA Coverage: Must be provided to individuals not eligible for COBRA coverage or a COBRA extension.
- Notice of Underpayment of COBRA Premium: Must be provided to COBRA recipients that have not made a sufficient COBRA payment for a given month.
- Notice of Early Termination of COBRA Coverage: Must be provided to COBRA recipients whose COBRA coverage is being terminated early.
The COBRA Notices Generator currently generates notices to help the following employers satisfy their COBRA notice obligations:
- All employers in Alabama, Alaska, Arizona, California, Connecticut, Idaho, Indiana, Massachusetts, Michigan, Montana, Nevada, New York, and Washington.
- Employers with 20 or more employees in Arkansas, Colorado, Delaware, District of Columbia, Florida, Iowa, Kentucky, Louisiana, Maine, Mississippi, Nebraska, North Dakota, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, South Dakota, Utah, Vermont, Virginia, West Virginia, and Wyoming.
Hr360 is packed with guidelines, forms, instructional videos, tools, and checklists that touch on some of the hottest topics in HR today – recruitment and hiring, performance reviews, discipline and termination, motivating employees, safety and wellness, and much more. If a business has to deal with it, it is in hr360!
To learn more about streaming HR Compliance, watch this short video on hr360, and call BASE® at 1-888-386-9680 to start your subscription for just $30 annually today.
Finding ways to reduce costs in any business is hard. Finding ways to reduce the cost of health care is an even bigger challenge. Health insurance is one of the most important things an employee considers when looking for a new job – a job that offers a benefits package that can help them take care of their family’s out-of-pocket medical expenses. But for many great businesses, providing health insurance can be expensive and is not feasible. Employers are torn between wanting to provide the best so their employees are healthy, but at the same time wanting to save money.
A Health Reimbursement Arrangement is an IRS-approved, employer-funded, tax-advantaged employer health benefit plan that reimburses employees for out-of-pocket medical expenses.
If a business still wants to provide a group health insurance plan, but lower the cost of providing it to their employees, the BASE® Integrated HRA will help save money for both the employee and employer.
Employers can institute a High Deductible Health Plan in conjunction with the BASE® Integrated HRA plan to save money while still offering similar coverage for their employees. With this, a company would:
- Increase the annual deductible on the existing group policy which will lower the company’s monthly premium cost by up to 50%
- Give each employee a tax-free HRA where employees would use the funds to cover all expenses they incur
- Save up to 30% with no change in the employee health benefits
If a business still wants to provide some type of health benefits, but a group health insurance plan is not an option, the BASE® Qualified Small Employer HRA is another low-cost alternative. With the BASE® QSE HRA, the employer can set different benefit limits for single employees versus married up to the annual maximum established by the IRS, while the employees secure their own medical insurance either on or off the Marketplace. The employees will then be able to pay for their medical coverage for themselves and their families, tax free, and use the money for insurance premiums, copays, deductibles, eye care, dental care, or other qualified health care expenses.
If the employer is currently paying for their employees’ health insurance premiums informally, such payments will need to be reported on their taxes as taxable income to the employees. By setting up an HRA, employees receive their dollars 100% tax-free and employers can deduct reimbursements as a non-taxable business expense. BASE® will work with the employer to make sure the business is providing the best, saving the most, and staying compliant.
Whichever HRA plan a business chooses, they will provide their employees with an attractive benefits package to help pay for out-of-pocket medical expenses and will save the business thousands of dollars every year. Start cutting health care costs and call BASE® at 1-888-386-9680 today!