For an online demonstration of RecoveryPro or CU PolicyPro, please contact Lisa Robinson at lcr@mcul.org or 800-262-6285 x539.
COBRA compliance can be complicated and time-consuming, but it's mandatory if your business has at least 20 employees and offers a group insurance program. Now HRcure® can help your credit union avoid time-consuming paperwork and costly penalties by handling your COBRA compliance work for you.
Our service includes:
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Generation of COBRA notification letters, enrollment forms, and "Certificates of Coverage" (HIPPA Regulation)
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Notification of employees/dependents who experience a "qualifying event"
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Monitoring COBRA participant's time frames
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Notifcation of COBRA Participants of Conversion privilege
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Tracking re-enrollment and payment for each beneficiary
The CU HR Solutions offers credit unions in Michigan a summary plan description (SPD) solution that complies with ERISA.
The CU HR Solutions has commissioned a law firm to compose two-thirds of the SPD that contains the more generic terms of the document. We have paid the fees for that document and are prepared to offer our CU HR Solutions clients a compliant SPD for their credit union for only the cost of customization. That cost is $750 for most credit unions. (Groups with self-insured benefits will require additional work and the price will be quoted upon examination.) Non-CU HR Solutions clients will pay $925 for the basic customization without self-funded benefits.
For this cost you will receive the full document and several notices that are required to either be delivered to employees and/or be a part of the summary plan description documentation. When composed individually for each employer, the cost of this project would run between $2,000 - $3,000.
RecoveryPro will help you comply with a mandatory requirement by preparing for emergency situations with a step-by-step process. This comprehensive, easy-to-use manual is designed for credit unions to customize, implement and maintain their disaster recovery plan using a simulated online format with off-site back up services. We'll take you from development to actual implementation. You will also receive information, ideas, and strategies that will help you make disaster planning a permanent component of your credit union, and in the event of an emergency, will enable you to resume normal daily operations in an expedient manner. 
One of the mandatory elements each credit union must have is an Operations Policy Manual. CU PolicyPro contains comprehensive policies and procedures - developed & written especially for credit unions by regulatory (legal and financial) experts.