Preparing for the Affordable Care Act’s Summary of Benefits & Coverage (SBC) Requirement
Earlier this year, the IRS, HHS and the DOL released final regulations under the Affordable Care Act’s “Summary of Benefits and Coverage” (SBC) requirement.
The SBC is a summary of health plan benefits and participant cost-sharing requirements. It also includes a glossary of common health plan terms to give participants a clear and comprehensible understanding on what their plan covers.
Plan sponsors and insurers are required to begin issuing SBCs as early as September 23, 2012. The final rules contain stiff penalties for failure to comply. Are you ready?
The Knowledge Group has assembled a distinguished group of compliance experts to help employer plan sponsors and insurance companies comply with the new rules. The panelists will share their expertise in a LIVE two-hour Webcast.
Cynthia A. Moore, Member,
Dickinson Wright PLLC
- • Background/overview/effective date/benefits subject to the SBC
• Who is responsible for delivery of the SBC
• Who has a right to receive the SBC
• Timing of delivery (including advance notice of material modifications)
Janet Trautwein, Executive Vice President and CEO,
National Association of Health Underwriters (NAHU)
• Format and content of the SBC (including culturally and linguistically appropriate requirement; glossary; and coverage examples)
Benjamin J. Conley, Attorney, Employee Benefits & Executive Compensation ,
Seyfarth Shaw LLP
- • SBC issues for plans with unique designs
bull; Coordinating SBC preparation among service providers
• Electronic v. paper delivery
• Penalties for failure to comply
Who Should Attend:
- Attorneys, Practice Area: Insurance & Related
– Insurance advisers
– Insurance agencies
– HR & Benefits Executives and Administrators
– Compliance Officers
– Plan Sponsors & Fiduciaries
– Employee Benefits & Compensation Lawyers and Consultants
– Payroll and Benefits Administrators
– Human Resource & Benefits Personnel
– Other Related Professionals
Cynthia A. Moore is a member in Dickinson Wright’s Troy, Michigan office and is the Practice Department Manager of the Firm’s Tax, Employee Benefits, Estate Planning, Immigration and Healthcare practice areas. Ms. Moore has more than 25 years of experience in the area of employee benefit and executive compensation. She advises large and small employers on the tax and ERISA aspects of benefits plans, equity compensation plans, and non-qualified deferred compensation plans. Ms. Moore is a member of the Taxation and Business Law Sections of the Michigan Bar and the American Bar Association. She is the co-author of a BNA Tax Management Portfolio on “Employee Fringe Benefits” and is listed in Best Lawyers in American and Michigan Super Lawyers for employee benefits/ERISA law.
Cynthia A. Moore is a member in Dickinson Wright’s Troy, Michigan office and is the Practice Department Manager of the …
Janet Trautwein is the Chief Executive Officer of the National Association of Health Underwriters (NAHU) in Washington, DC. NAHU represents more than 100,000 employee benefits professionals involved in the design, sale, implementation and management of health plans all over the United States. Her responsibilities include oversight of all NAHU activities and primary representation of the association to the media, government agencies and elected officials at all levels. Prior to becoming the CEO of NAHU in 2005, Janet served for many years as the head of NAHU’s government affairs department, working with members of Congress, senior government officials, governors, and state legislators, and directing the government and political affairs of the organization. A frequent speaker on health policy issues, Janet is considered an expert in health insurance markets and health plans of all sizes and frequently testifies before Congress on these issues. Her expertise in issues related to the uninsured, health insurance pools, risk and reinsurance pooling, health related tax issues, and both national and global health reform has been recognized throughout the industry. In 2004, Janet received the Harold R. Gordon Memorial Award, which honors the “Health Insurance Person of the Year” and is considered to be the most prestigious award in the health insurance industry. Since 2006, Janet has been named one of the 100 most powerful people in the insurance industry. She has been published in major newspapers, including The Wall Street Journal, New York Times and Los Angeles Times and she has appeared on hundreds of radio and television programs around the world.
Janet Trautwein is the Chief Executive Officer of the National Association of Health Underwriters (NAHU) in Washington, DC. NAHU represents …
Mr. Conley is an attorney in the Chicago office of Seyfarth Shaw LLP. He focuses his practice on employee benefit plans. Mr. Conley has experience counseling clients on qualified retirement plans, health and welfare plans, and executive compensation.
Mr. Conley regularly advises clients on defined benefit and defined contribution plan compliance, including corrections for plan operational errors. He assists clients in drafting plan documents, plan amendments and participant communications. He also advises clients on health & welfare plan compliance, including medical and dental plans, cafeteria plans, flexible spending accounts and dependent care spending accounts. Mr. Conley counsels clients on plan design decisions relating to COBRA, HIPAA privacy regulations and health care reform legislation.
Mr. Conley is a member of the firm’s Health Care Reform Team. This cross-departmental team of lawyers was formed to focus on how health care reform will affect our clients. Mr. Conley started closely following health care reform well before it was passed into law. He regularly consults with governmental agencies on health care reform developments and has submitted comments on health care reform interim regulations on behalf of clients. Mr. Conley has presented extensively on health care reform and what it means for businesses, including leading the Healthcare Reform Certification Program offered by the Employer Healthcare Congress.
Mr. Conley serves as the editor and primary articles contributor for the Mid American Group Quarterly Benefits Newsletter. He has written articles concerning health care reform legislation, employer wellness programs, fiduciary responsibilities, claims review procedures and retiree medical benefits. Prior to joining Seyfarth, Mr. Conley was a lead articles editor for theWashington & Lee University Law Review.
Mr. Conley is an attorney in the Chicago office of Seyfarth Shaw LLP. He focuses his practice on employee benefit …
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About Dickinson Wright PLLC
Dickinson Wright PLLC is a full-service law firm of experienced, creative, diverse and dedicated legal professionals. Its attorneys are respected by peers, honored by industry endorsements and recognized through significant appointments to bar associations and the judiciary system. The Dickinson Wright team of nearly 300 lawyers serves clients from law offices in Detroit, Nashville, Washington, D.C., Toronto, Phoenix, Las Vegas, and Troy, Lansing, Grand Rapids and Ann Arbor, Michigan. The Firm has experience in more than 40 areas of legal practice, a worldwide presence due to its virtual office concept and innovative technology systems, and affiliations with leading law firms throughout the world provide the Firm with global reach. From Fortune 500 companies to small and emerging businesses to governmental entities, nonprofits and individuals, every client benefits from Dickinson Wright’s depth of experience, breadth of expertise and focus on providing personalized service
About National Association of Health Underwriters (NAHU)
About Seyfarth Shaw LLP
Seyfarth Shaw LLP is one of the largest employee benefits groups in the U.S., their attorneys proudly and competently represent some of the largest and most well-known businesses engaged in key industries such as manufacturing, retail, health care, insurance and financial services.
The Employee Benefits & Executive Compensation Department is relationship-driven, with a focus on supporting their clients’ ongoing legal counseling needs with respect to the establishment, maintenance and even termination of their retirement, health and welfare, and executive compensation plans and programs. Their group is efficiently divided into internal specialty groups such as those focusing on health and welfare programs, executive compensation, defined contribution plans, defined benefit plans, multi-employer plans and fiduciary advisory services. This ensures that sophisticated issues are handled by attorneys with specialized knowledge who are best equipped to find the quickest and most innovative solutions for their clients.