At 24HourFlex, we are always looking for ways to make your day better and simplify your life. That's why we partner with WEX Health to bring you to the most powerful and intuitive software to help you manage your benefits.
Audits of any kind are not pleasant, especially ones involving disgruntled former employees. Penalties for non-compliance include an IRS excise penalty of $100/$200 per day, an ERISA penalty of $110 per day per Qualified Beneficiary (QB), and legal fees, court costs and any medical claims not covered by insurance for the QB(s). Thankfully there are a few steps employers can take to prepare for a COBRA audit before one occurs.