Benefits administration is becoming more complex and time-consuming for employers. OptumHealth Financial Services monitors the constantly changing requirements and delivers comprehensive administrative services so employers can concentrate on business.

COBRA administration
We can ensure that the health care needs of active and inactive employees and retirees are taken care of. COBRA and state benefit continuation services include: 

• COBRA administration installation – We set up the program and transition qualifying beneficiaries.
• Communications and mailings – We make sure plan participants have everything they need to enroll and participate in the program.
• Compliance – We issue HIPAA certificates for qualifying events.
• Billing – We collect payments and send payment reminders as necessary.
• Payments – We send a monthly check for all premiums received during the month.
• Reports – We send detailed monthly reports of all COBRA activity.

VEBA trusts
We can help employers manage this tax-efficient, low-cost way to fund their employees’ and retirees’ current and future health care expenses. Services include:

• Plan installation – We establish the plan records and claim-processing procedures to set up data-processing requirements.
• Employee communication – We create and send each participant a package containing everything he or she needs to get started, including an overview of health expenses, sample forms and claim-filing tips.
• Recordkeeping, reviews and audits –- When plans provide for multiple investment fund options, we offer daily recordkeeping services. We also review and audit 100 percent of all claims.
• Requests, reports and reimbursements – We handle all reimbursement requests and generate management reports.
• Compliance – We take care of discrimination testing and government reporting.

Billing services
We can manage billing from all benefits carriers for active employees and retirees so employers can free themselves from complicated, time-consuming tasks. Services include:

• Installation and set-up – We provide employers with everything they need to get started, including electronic forms.
• Annual services – We update employers’ systems with billing rate changes. For an additional cost, we can send and collect open enrollment materials.
• Ongoing administrative services – We can maintain employers’ databases, manage their billings, create reports and provide ongoing customer service to employers and their carriers.