Managing COBRA services can be as cumbersome as it is complex. ThrivePass's HIPAA-compliant platform handles every facet of COBRA administration.
Along with helping participants decide between enrolling in a plan on the Federal or State Marketplaces or sticking with their COBRA plan, ThrivePass sends timely notifications to participants and benefit providers.
Payment processing and transmissions, reminders to participants and reports to employers—all these come standard.
What we do.
We start off on the right foot.
ThrivePass will run full carrier and client audits upon takeover to ensure no existing issues carry over to your new administration.
We work flexibly.
From custom letters and notifications to specialized reporting, ThrivePass offers an administrative structure that meets your needs.
We customize communications.
No cookie cutter templates here: ThrivePass will work with you to craft personalized and tailored takeover communications.
How we do it.
Qualifying Event Notices
Clients notify ThrivePass via our portal or electronic file and sends a COBRA Notice to the former employee, who in turn can opt to enroll in or decline COBRA coverage.
State and Federal COBRA Extensions
We support state rules where they apply and federal rules everywhere else.
To keep things simple, we accept payments through direct debit (ACH) and credit card. To all covered participants ThrivePass sends detailed monthly statements.
Whether it's a severance and tipped employee program, LOA, or retiree benefits, we'll work with you set up the best program possible.
On average, COBRA participants cost employer’s plans $10,000 per year and COBRA coverage costs participants around 27% more than plans available through the Federal and State Marketplaces.
That's where ThrivePass's COBRA Decision Enablement comes in. Decision Enablement is an app that recommends the best available plan for participants —whether that's through COBRA or the Federal and State Marketplaces.
Recommendations are based on the total cost of all possible plans for the participant, including premiums and out of pocket expenses. Oftentimes, that's not the COBRA plan.
Why use Decision Enablement?
Slash plan costs to employers by helping former employees elect and enroll in an alternative to COBRA coverage.
Allow former employees to enter personal benefits usage and preference information to recommend plans catered to their unique circumstances.
Ease the Transition
Help former employees weigh their options during their transition with side-by-side comparisons of COBRA coverage and alternative plans.
So, how does it work?
With hundreds of Federal and State Marketplace plans to choose from, participants can usually find a better alternative to COBRA. After answering a series of questions about their health and finances, participants find the most affordable plan tailored to their needs.
Review Post-Employment COBRA Packets
When employees transition away from their current employer, they receive COBRA notifications that direct them to the COBRA Decision Enablement app, where they can consider their options for coverage.
Answer Questions about Health and Spending
When a participant logs into ThrivePass to enroll in COBRA, they can learn about other plans available. Participants can review all the plans they're eligible for or complete a series of questions to receive recommended results.
Make a Decision Based on Plan Recommendations
Recommendations in hand, participants can compare or browse through plans. While some participants may want to stick with COBRA coverage, those who elect a plan on the marketplace may save even more money with federal and employer-funded subsidies. Worry not: we handle calculating federal subsidies.
Enroll in a Plan
Participants enroll in a COBRA or Marketplace plan, taking advantage of federal and employer subsidies where applicable.