IRS audits threaten COBRA plans

Signed into law in April 1986, COBRA (the Consolidated Omnibus Budget Reconciliation Act) rapidly became an administrative challenge for most benefits managers. Now there is another threat - US Internal Revenue Service audits. Faced with a large volume of complaints, the IRS appointed a COBRA task f...

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Bibliographic Details
Published inNational underwriter (Property & casualty/risk & benefits management edition) Vol. 100; no. 17; p. 19
Main Author Maslen, David
Format Journal Article
LanguageEnglish
Published Erlanger ALM Media Properties, LLC 22.04.1996
EditionProperty & casualty/risk & benefits management ed.
Subjects
Audits
Beneficiaries
COBRA 1985-US
Employee complaints
Employers
Group health insurance
Regulatory agencies
Task forces
Terminations
Violations
United States > US
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Summary:Signed into law in April 1986, COBRA (the Consolidated Omnibus Budget Reconciliation Act) rapidly became an administrative challenge for most benefits managers. Now there is another threat - US Internal Revenue Service audits. Faced with a large volume of complaints, the IRS appointed a COBRA task force in August 1993 to address concerns its agents had and to provide guidelines for COBRA examinations and compliance checks. The task force released, internally, a COBRA Examination User's Guide and recommendations for conducting audits. Employers interested in protecting themselves before an audit should examine the guide in detail for suggested areas of improvement.
ISSN:2326-8670