<< Return to Employer Solutions

Financial Services

Our Financial Services products* include FSA and COBRA Administration, and Consolidated Billing. With these products you are able to easily offer important benefits to your employees. At the same time you maximize your time and resources by using FSA and COBRA Administration Services. Through Consolidated Billing, you save money by outsourcing the time consuming task of paying, reconciling and disputing vendor invoices. Better yet, you and your employees are able to access and manage all of the services in one place through the Benergy portal.

*Administered by OptumHealth Financial Services 

COBRA Administration

Outsourcing COBRA administration is a smart way to reduce your risks and focus staff resources on your business.

For most employers, COBRA, HIPAA and state continuation law administration is not a primary function for the company, and the owners may not understand the complexity of the requirements and the risks of improper administration.

Through our COBRA Administration product provided by OptumHealth Financial Services, we stay on top of emerging statutes, regulations and court cases that impact how plans maintain compliance. This helps to ensure that the administration of the program satisfies the stringent requirements that apply to the COBRA, HIPAA and state continuation benefits you provide.

HIGHLIGHTS

  • Communicate all COBRA elections and changes to carriers
  • Collect and track premium payments and receive detailed monthly reporting
  • Automate qualifying event services through mailing of election packages, enrollment forms and premium payment coupons
  • Reduce risk and comply with COBRA and HIPAA regulations
  • Save on claims costs when you consider the significantly higher loss ratios for COBRA-covered individuals