COBRA Notifications Sample Clauses
The COBRA Notifications clause requires an employer to inform employees and their dependents of their rights to continue health insurance coverage under the Consolidated Omnibus Budget Reconciliation Act (COBRA) after certain qualifying events, such as termination of employment or reduction in work hours. In practice, this means the employer must provide timely written notice outlining the steps to elect continued coverage, the associated costs, and relevant deadlines. This clause ensures that employees are aware of their options to maintain health benefits, thereby preventing gaps in coverage and helping the employer comply with federal law.
COBRA Notifications. To the extent required by law, Seller will provide all required notification under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) to all former employees of Seller at the Branches after the Closing Date and to all other persons who became “qualified beneficiaries” under COBRA with respect to any group health plans maintained by Seller for its employees, and Seller will have provided any required COBRA coverage to all such former employees and other qualified beneficiaries of Seller who elect COBRA coverage within the time period specified by COBRA and the regulations promulgated thereunder.
COBRA Notifications. Upon receipt of data from Client which indicates a status change causing a Qualifying Event, or a new hire enrollment into a COBRA eligible plan, Benefitfocus will send via Accountable Mail, within the applicable time frame required by the COBRA provisions of ERISA or upon the effective date of coverage where applicable, the notifications outlined below. Notifications will be configured during implementation of COBRA Services, including standardized Benefitfocus branding, and provided in standardized format and language. Benefitfocus will send the following standard notices, to the extent purchased and implemented under the Implementation Services Order Form or subsequent Order Form:
1. Initial Notices (“General Rights Notices” as defined in COBRA) will be sent within the timeframe required by COBRA to newly Covered Employees and spouses and dependents informing them of their rights under COBRA.
2. A COBRA Specific Rights Notice, including instructions for COBRA continuation election, will be sent to each Covered Employee, or dependent of a Covered Employee, within 5 Business Days after a qualifying event change that causes loss of eligibility is processed in the Benefitplace enrollment platform.
3. The timeliness of sending notifications is contingent on receiving timely, accurate and complete eligibility, qualification and status data per the process and format agreed upon for automated load into the COBRA Application. If complete information is not received timely from Client, Benefitfocus will send the notices described in this Section as soon as administratively practicable after receiving the required information. If information from Client is not complete or is incorrect, such notices may be incomplete or incorrect.
4. If purchased by Client, Initial Notices (General Rights Notices) may be sent to all Covered Employees and spouses at the Target Go Live Date as noted in the Order Form, at the rate identified herein.
5. Notifications beyond the scope of this Section require further pricing and scoping and an additional writing signed by the parties.
COBRA Notifications. CLIENT agrees to comply with the provisions of IRC Section 4980B and to notify OASIS of any event that would constitute a qualifying event under said statute as soon as it becomes aware of said event. If CLIENT fails to notify OASIS of a qualifying event under IRC and Section 4980B CLIENT shall be liable for any and all costs or penalties incurred by OASIS as the result.