Case Study: The Importance of a Modern COBRA Solution

Alegeus and Peak One partner to streamline and advance COBRA administration

The company

For more than 20 years, Peak One Administration has offered customized employee benefit plans and employee benefits management for customers across the country. Its healthcare account solutions are flexible and easy-to-use, backed by outstanding customer service and deep industry expertise. The company is a single-source benefit solution for FSA, HRA, VEBA, Section 115, HSA, Transportation, Retiree Billing, and COBRA administration.

The situation

COBRA solutions are historically plagued with inefficiencies and integration hurdles. Difficult or incomplete reporting is also common. Over the years, Peak One had utilized nearly every COBRA offering on the market to varying degrees of success. Some provided challenges with setting up data, some with challenges to accessing data, and all with integration challenges. The company wanted a better solution, one that would make COBRA administration as easy and seamless as possible. It found that solution in Alegeus.

A strategy for success

According to Peak One, Alegeus’ WealthCare COBRA almost instantly proved to be the industry’s most user-friendly COBRA platform. This was true not only for admin users, but also for employers, brokers and participants. The platform offered “the perfect amount of bells and whistles” and a more intuitive interface than they had seen prior, notes Rachel Humbird, Peak One’s president.

After going live with WealthCare COBRA in January 2022, Peak One immediately realized improvements over previous platforms. These included advanced flexible reporting, the ability to handle complex rate tables, and the administration of large employer groups. Running enrollment or remittance reports no longer required hours spent collating data. Peak One could now create its own custom reporting format, with layouts that were “super easy for the team to use.”

WealthCare COBRA has also simplified processes for Peak One’s broker partners. They can now quickly and easily be set up in the system, accessing only the data they need (something that the other platforms couldn’t offer).

The Alegeus approach

Prior to implementation, the Alegeus team worked closely with Peak One to identify its needs. The top priority: Create a seamless path for the organization to deliver exceptional user experiences for both employers and individuals. According to Humbird, “this was the fastest software implementation I have ever experienced, and we actually stayed ahead of schedule.”

In the current climate, many companies are undergoing restructurings and conducting layoffs. “We want to make sure COBRA participants are taken care of. We try to make the COBRA election, reinstatement and payment processes as easy as possible,” said Humbird. The Alegeus platform frees up and empowers her team to give customers the white-glove service they deserve.

With simplified data collection and input, being able to build out its own reports has made a big difference in Peak One’s remittance process. “We struggled previously because reports weren’t available in Excel, only in PDFs. With Alegeus, remittance is faster, and we have more control over when we receive funds,” Humbird continued.

Results matter

Peak One and Alegeus share a common goal – to help companies navigate the complexities of COBRA with greater ease and confidence. Ultimately, this partnership is delivering measurable value to businesses of all sizes. It enables them to focus on what they do best while ensuring compliance with federal regulations and providing their employees with an optimal benefit experience.

A look ahead

As Peak One continues to expand and positions itself for further success, it recognizes the need to establish strong partnerships to help alleviate the significant pressures and service issues that companies often face during times of restructuring. Through this partnership, Peak One is able to leverage Alegeus’ cutting-edge platform to streamline COBRA administration, making it more accessible, intuitive and efficient. Peak One and Alegeus can deliver a comprehensive solution that not only simplifies the administrative burden of COBRA compliance, but also improves the overall experience for everyone involved.