COBRA Notices Can Include Marketplace Information (article)
The tri-governing agencies (Departments of Labor, Health and Human Services and Treasury) of the Affordable Care Act issued an FAQ on June 21, 2016 relating to the type of information contained in COBRA notices. In a nutshell, individuals who become eligible for COBRA continuation coverage due to a certain event, such as termination of employment, would also be eligible to enroll in the Marketplace. So that individuals may be informed of their options once coverage terminates, the tri-agencies encourage COBRA notices to include information about Marketplace coverage such as:
- How to obtain assistance with enrollment (including special enrollment),
- The availability of financial assistance,
- Information about Marketplace websites and contact information,
- General information regarding particular products offered in the Marketplaces, and
- Other information that may help qualified beneficiaries choose between COBRA and other coverage options.
The information contained in this article is provided as general guidance and may be affected by changes in law or regulation. This article is not intended to replace or substitute for accounting or other professional advice. Please consult a CBIZ professional. This information is provided as-is with no warranties of any kind. CBIZ shall not be liable for any damages whatsoever in connection with its use and assumes no obligation to inform the reader of any changes in laws or other factors that could affect the information contained herein.