New COBRA Mandates for Employers
Complying With the Continuation Coverage Provisions of the Economic Stimulus Plan
Recording of a 90-minute CLE teleconference with Q&A
Conducted on Wednesday, April 22, 2009
Recorded event now available
This seminar will examine the new COBRA provisions in the American Recovery and Reinvestment Act of 2009 and recommend steps employers should take immediately to ensure compliance with the new requirements.
Description
In response to the economic crisis, President Obama signed the American Recovery and Reinvestment Act of 2009 into law on Feb. 17, 2009. Also called the economic stimulus plan, the Act provides a temporary subsidy for COBRA continuation health coverage for involuntarily terminated employees.
The administration of the subsidy is expected to be a compliance nightmare for employers, as more former employees elect continuation coverage and employers attempt to locate previously laid off employees who qualify for the subsidy.
The Act goes into effect almost immediately, forcing employers to act quickly to comply with the law’s new requirements. Failure to comply with the Act’s notice requirements will be subject to the existing COBRA penalty provisions under ERISA and the Internal Revenue Code.
Listen as our authoritative panel of employee benefits attorneys examines the COBRA provisions of the economic stimulus plan and recommends steps employers should take now to ensure compliance with the new requirements.
Outline
- New COBRA subsidy
- Eligibility
- Duration of subsidy
- Option to change coverage
- Special 60-day election period
- New notice and reporting requirements
- Payroll tax credit
- Steps employers should take immediately to ensure compliance
- Update COBRA communication materials
- Identify eligible individuals
- Written notice to eligible individuals
- Implement administrative procedures for providing subsidy and obtaining payroll tax credit
- Review severance policies and agreements that provide COBRA subsidy to determine if special provisions apply
- Coordinate with COBRA vendors and insurance carriers
Benefits
The panel will review these and other key questions:
- How does the new Act define an "assistance eligible individual"?
- How does the new law impact individuals who recently declined COBRA coverage prior to the passage of the new law?
- What changes do employers need to make to their COBRA notice policies and practices?
- How do employers apply for the payroll tax credit?
Faculty
Paul M. Hamburger,
Partner
McDermott Will & Emery, Washington, D.C.
He advises employers on all aspects of their employee benefit programs, including matters affecting tax-qualified retirement plans, executive compensation plans and welfare benefit plans. He is a frequent speaker on employee benefit matters. He is also an author of numerous articles and other publications on employee benefits matters, including The COBRA Guide.
Stacy H. Barrow,
Counsel
K&L Gates, Boston
He advises corporate, not-for-profit, governmental and individual clients on matters related to executive compensation and employee benefits. He assists with issues arising under the various laws and regulations governing qualified retirement plans and benefits arrangements, including ERISA, COBRA, HIPAA and the Internal Revenue Code.
Keith R. McMurdy,
Partner
Fox Rothschild, New York
He focuses primarily on labor and employment issues arising from the design, drafting and administration of employee benefits plans. He represents benefit plans, plan sponsors, plan administrators, third-party administrators and insurers. He is a frequent speaker on employee benefits topics, including plan administration, regulatory compliance and litigation avoidance.
Ordering
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Customer Reviews
The seminar was understandable, fluid and thorough for the topics covered.
Susan L. Dolin, Esq.
Susan L. Dolin, P.A.
Good materials plus well prepared presenters and a good level of detail.
John H. Merkle
Fredrikson & Byron, P.A.
I found the content very useful and was impressed by the high quality of each speaker's ability to articulate his presentation.
Andrew Lillie
Hogan & Hartson
I appreciated the personal-level insights of the speakers.
Kendall Carter
King & Spalding, LLP
The speakers were very knowledgeable about the area and you could tell they cared. It was nice to call in and be able to speak to them live.
Shari J. Reich
Kenney Shelton Liptak Nowak LLP
Employment & ERISA Advisory Board
Partner
Littler Mendelson
Partner
Perkins Coie
Partner
Wick Phillips
Shareholder
Littler Mendelson
Shareholder
Greenberg Traurig
Partner
Gibson Dunn & Crutcher
Partner
Gladstone Michel Weisberg Willner & Sloane
Shareholder
Greenberg Traurig
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