Insights
We are proud to be named a West Coast Regional Leader for 2024
Navigating COBRA: Who Needs to Be Notified When Coverage Changes?
ARTICLE | October 29, 2024
Authored by Vasquez + Company
Understanding your obligations under the Comprehensive Omnibus Budget Reconciliation Act (COBRA) is crucial for employers. This article addresses whether a COBRA notice should be sent to a dependent who is no longer eligible for coverage but is still considered for notification purposes.
Key Points:
- COBRA Overview: Established for the continuation of group health coverage for employees and their dependents under certain circumstances.
- Qualifying Events: Specific situations that trigger the right to COBRA coverage include termination of employment, reduction of hours, and loss of dependent status.
- Notification Requirements: Employers must notify both covered individuals and those who may expect COBRA coverage, even if they are not currently eligible.
- Understanding Notices: Notices must be clear and provided in a timely manner to those impacted by qualifying events.
For more detailed guidance, read the full article here.
Our firm provides the information for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. This article is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
Let's Talk!
Call us at +1 213.873.1700, email us at solutions@vasquezcpa.com or fill out the form below and we'll contact you to discuss your specific situation.
Vasquez + Company LLP has over 50 years of experience in performing audit, tax, accounting, and consulting services for all types of nonprofit organizations, governmental entities, and private companies. We are the largest minority-controlled accounting firm in the United States and the only one to have global operations and certified as MBE with the Supplier Clearinghouse for the Utility Supplier Diversity Program of the California Public Utilities Commission.
For more information on how Vasquez can assist you, please email solutions@vasquezcpa.com or call +1.213.873.1700.
Subscribe to receive important updates from our Insights and Resources.