Paychex Announces New COBRA Administration Services; Paychex Services Meet Federal and State Mandates Requiring Health Care Coverage Continuation for Employees and Beneficiaries.ROCHESTER, N.Y. -- Paychex, Inc. today announced the addition of Paychex COBRA cobra, name for African and Asian snakes of the family Elapidae that are equipped with inflatable neck hoods. The family also includes the African mambas, the Asian kraits, the New World coral snakes and a large number of Australian snakes. Administration to the company's suite of human resource services for small and medium-sized businesses. Paychex offers both COBRA and state continuation services, which meet federal and state mandates for the temporary continuation of health care coverage for employees and their families that would otherwise end because of certain qualifying events. Paychex COBRA Administration, available to Paychex clients as well as other businesses, also helps employers stay in compliance and avoid costly penalties that can be incurred. The Consolidated Omnibus Budget Reconciliation Act Consolidated Omnibus Budget Reconciliation Act, n.pr law that allows individuals to carry over health coverage from a previous job for a limited time at their own expense. (COBRA) applies to employers with 20 or more employees and stipulates that most group health plan sponsors must give employees and their beneficiaries the chance to keep their health coverage, which they would otherwise lose for reasons including termination of employment "Fired" and "Firing" redirect here. For other uses, see Fired (disambiguation) and Firing (disambiguation). “Gross misconduct” redirects here. For the ice hockey term, see Penalty (ice hockey). , divorce, or death. State continuation services apply to employers with 19 or fewer employees. Eighty percent of states require health insurance continuation for businesses with one or more employees. With Paychex COBRA Administration, Paychex will completely set up and maintain COBRA and state continuation programs. "By relieving our clients of the tasks of notification, collection, remittance Money sent from one individual to another in the form of cash, check, or some other manner. Financial statements sent by a creditor to a debtor frequently refer to the process of submitting a monthly remittance. REMITTANCE, comm. law. , and administration of their COBRA requirements, Paychex delivers a comprehensive service to both the employer and the separated employee," said Tony Tortorella, vice president of sales for Paychex Human Resource Services. With Paychex COBRA Administration, Paychex will: --Set up and maintain COBRA and state continuation programs. --Send timely notices to qualified employees. --Collect and remit To transmit or send. To relinquish or surrender, such as in the case of a fine, punishment, or sentence. An individual, for example, might remit money to pay bills. TO REMIT. To annul a fine or forfeiture. 2. participant payments. --Track terminations. --Help to comply with all COBRA-mandated programs. --Answer questions via a toll-free customer service line for employers and employee participants. While Paychex COBRA Administration is available to any employer that meets federal or state guidelines, Paychex payroll clients - both small and large businesses - benefit from the integration of the payroll and COBRA processes. "With Paychex as the client's payroll and human resource services provider, the link between payroll and COBRA allows Paychex to be proactive with COBRA qualifying events, notifying both the employer and the employee," said Brad Flipse, vice president of sales for Paychex Major Market Services. "When an employee terminates, the system is alerted, and the COBRA process begins. We see that the necessary paperwork goes out to the employee, taking the burden off the employer." About Paychex Paychex, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :PAYX) is a leading national provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax Payroll Tax Tax an employer withholds and/or pays on behalf of their employees based on the wage or salary of the employee. In most countries, including the U.S., both state and federal authorities collect some form of payroll tax. administration, and employee pay services, including direct deposit, check signing, and Readychex(R). Human resource and benefits outsourcing services include 401(k) plan recordkeeping, workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. administration, section 125 plans, a professional employer organization A professional employer organization (PEO) provides outsourcing of payroll, workers' compensation, human resources and employee benefits administration. It does this by hiring a client company’s employees, thus becoming their employer of record. , and other administrative services for business. Paychex was founded in 1971. With headquarters in Rochester, New York This article is about the city of Rochester in Monroe County. For the town in Ulster County, see Rochester, Ulster County, New York. Rochester, once known as The Flour City, and more recently as The Flower City or , the company has more than 100 offices and serves approximately 543,000 payroll clients nationwide. For more information about Paychex and our products, visit www.paychex.com. |
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