Target: Clarifying Guidance on COBRA Deadline Extension Relief
The IRS released Notice 2021-58 to clarify how certain COBRA deadline extensions under prior relief will apply. Under Emergency Relief, up to one yar must be disregarded in determining due dates for individuals to elect and pay for COBRA during the Outbreak Period (i.e. 60 days after the announced end of the National Emergency). For example:
- If an individual elected COBRA coverage within the initial 60-day COBRA election time frame, they will have one year and 45 days after the date of the election to make their initial COBRA premium payment.
- If an individual elected COBRA coverage outside of the initial 60-day COBRA election time frame, they generally will have one year and 105 days after the date the COBRA notice was provided to make the initial COBRA premium payment (subject to transition relief).
Employers should ensure their COBRA procedures are compliant with deadline extensions.
Target: Compliance Webinar
Please join Brown & Brown for our latest compliance webinar on Thursday, October 28th at 9am PST. The topic will be the hidden intricacies of Benefit Notices and we will be covering:
- Who has the responsibility to send benefit related notices, and who must receive them?
- What benefit notices must be provided?
- When must benefit notices be provided?
- Where should the individual benefit notices be included?
- How should the notices be distributed?
More information in the attached flyer, Click here to register
Brown & Brown has targeted these valuable resources to help you and your employees through the COVID-19 pandemic:
Please don’t hesitate to reach out to your Brown & Brown team with any questions, thank you.