Cobra Agreement

14 Sep Cobra Agreement

You agree that all funds transferred by eligible beneficiaries or third parties to EverythingBenefits, which are and remain the client`s general assets, are not «planned assets» within the meaning of the Employeee Retirement Income Security Act 1974, as amended and subject to the rights of the client`s creditors until such amounts are transferred to the corresponding insurance undertaking (or directly to the client, such as the customer`s choice). You also understand and acknowledge that EverythingBenefits is not a financial institution and is not responsible for the customer`s compliance with applicable trust requirements solely as a result of our role as a collection agent. COBRA emphasizes communication with the employee about the right to continue benefits in the event of a qualifying event. Communication requirements include the following notifications: 5. Ricky quits his job and health coverage for the band on September 1. Ricky chooses COBRA coverage on October 1 and decides to pay his COBRA premiums monthly. The initial duration of this Agreement shall be defined in the proposal concerned. If no initial maturity is indicated, the initial term is in progress until the expiry of the longest maturity or maturities of the current offer between you and EverythingBenefits under the terms. . .


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