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Summary
Employers must ensure their COBRA compliance procedures align with proposed IRS regulations. Following these guidelines now offers good-faith compliance until final rules are issued.
Area of Science:
- Health Law
- Employee Benefits Law
- Tax Law
Background:
- The Consolidated Omnibus Budget Reconciliation Act (COBRA) mandates health insurance continuation coverage for employees.
- Proposed Internal Revenue Service (IRS) regulations introduce new compliance requirements for employers regarding COBRA.
Purpose of the Study:
- To inform employers about upcoming changes in COBRA compliance.
- To provide practical guidance for adhering to proposed IRS regulations.
Main Methods:
- Analysis of proposed IRS regulations concerning COBRA.
- Review of current employer compliance procedures.
Main Results:
- Current COBRA compliance procedures may not align with proposed IRS regulations.
- Adherence to proposed regulations ensures good-faith compliance.
Conclusions:
- Employers should proactively review and update their COBRA compliance strategies.
- Implementing changes based on proposed IRS rules is advisable pending finalization.