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New COBRA notices further explain individual exchanges

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in Office Management,Payroll Management

You can finally make the Affordable Care Act work for you. Newly proposed COBRA regulations update the model COBRA notices to expand the discussion of the individual Health Insurance Marketplace exchanges, through which COBRA-eligible employees may, instead, buy individual policies.

And the fewer employees who elect COBRA coverage, the fewer headaches for you.

Simultaneously with the proposed regs, the Department of Labor (DOL) released updated COBRA notices. The proposed regs won’t become effective until finalized, but the DOL says that using the new notices will show your good faith compliance with the law. (79 F.R. 26192, 5-7-14)

To COBRA or not to COBRA? In issuing the new notices, the DOL is hoping to clear up some confusion regarding the interaction between COBRA and individual policies bought on the exchanges. The COBRA election notice emphasizes the following points:

  • Individual coverage through an exchange may be ch...(register to read more)

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