May 04, 2021
Since the passage of the American Rescue Plan Act on March 11, our community of employers, brokers, carriers, and members have stretched compliance skills to understand how the provisions of fully subsidized COBRA coverage applies to them. While many carriers are still interpreting their stance on state continuation coverage, Principal has released information on their position specific to state continuation coverage as it applies to group dental and group vision coverage:
- State Continuation Flyer - CA/NH
- Employer is responsible for notifying Principal of Assistance Eligible Individuals (AEI) by May 12, 2021
- Employer will mail list to Group Benefits Department at groupbenefitsadmin@principal.com
- Principal will then mail notice to AEI
- State Continuation Flyer - RI,VA,VT,MN,MO,SD
- Employer is responsible for obtaining model notices, from Department of Labor site.
- Employer must notify eligible individuals by May 31, 2021
- Employer must email Principal the Continuation of Election Form (from DOL website) to Group Benefits Department at groupbenefitsadmin@principal.com
It is contingent on the employer to notify Principal of Assistance Eligible Individuals. If Principal does not receive a list of AEIs, Principal will assume the employer has no AEIs that qualify for the ARPA COBRA premium subsidies.
We have a dedicated web page, which makes it easy for you to pick up and share relevant information to help both you and your client make informed decisions. We will continue to update our site as carriers and government agencies release more information.
