Download Healthcare Reform Certification

Employee Benefits
Legal Update
Inland HR
Management
Conference
Diane V. Dygert
Ben Conley
Legal Disclaimer
The contents of this presentation should not be
construed as legal advice or a legal opinion on any
specific facts or circumstances.
These materials are intended for general information
purposes only, and you are urged to consult a lawyer
concerning your own situation and any specific legal
questions you may have.
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©2014 Seyfarth Shaw LLP
Today’s Roadmap
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Same-sex marriage developments
ACA challenges
IRS ACA reporting forms
DOL versus SEC
©2014 Seyfarth Shaw LLP
Same-Sex Marriage Update
• Same-Sex Marriages
►Windsor decided June 2013
•Federal DOMA unconstitutional
►IRS – retroactive impact on retirement plans (Notice 2014-19)
►State Bans on Same-Sex marriage
•Split created by 6th Circuit
•Supreme Court to hear Obergefell v. Hodges on April 28
•May states limit marriage to a man and a woman
•Must states recognize same-sex marriage performed in other states
►Map has been rapidly evolving
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©2014 Seyfarth Shaw LLP
States’ Position on Same-Sex Unions
No recognition
Same-sex marriage
Pending court
challenge
Ct challenge &
Recognize other
states
16839052v.1
ACA Exchanges
• Federally established exchanges
►Several states refused to establish their own Exchange
►Other states partnered with the Federal government to assist
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©2014 Seyfarth Shaw LLP
ACA Exchanges
Establishing State
Exchanges?
State Exchange
State/Federal
Partnership
Federal
Exchange
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©2015 Seyfarth Shaw LLP
ACA Exchanges
• King v. Burwell –
►ACA authorizes subsidies on exchanges “established by the
state”
►Question heard by SCOTUS
• Does the language of the ACA mean taxpayers in states with
Federal exchange are not eligible for a subsidy?
►Oral arguments on March 6, 2015
►Court decision will not be published until late June 2015
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©2014 Seyfarth Shaw LLP
IRS ACA Reporting
• When?
►2015 – first year reporting required (due in 2016)
• Who?
►6055: Providers of minimum essential coverage (insurers and
sponsors of self-funded plans), and
►6056: Applicable large employers (ALEs) subject to the
employer mandate
• What?
►1094 and 1095 B series
• Insurance providers of minimum essential coverage
►1094 and 1095 C series
• ALEs
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©2013 Seyfarth Shaw LLP
IRS ACA Reporting Forms
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©2014 Seyfarth Shaw LLP
IRS ACA Reporting Forms
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©2014 Seyfarth Shaw LLP
IRS ACA Reporting Forms
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©2014 Seyfarth Shaw LLP
DOL v SEC on Fiduciary Rules
• White House Economic Advisors’ January memorandum
►Abusive trading practices cost workers $8-17 billion in retirement
savings annually
►Suggests DOL re-propose its fiduciary rule to require brokers to
act in clients’ best interests
• DOL indicated that it will re-issue its fiduciary rule
(originally enacted in 1975)
• Wall Street reacts
►SEC indicates protections already in place through their rules
• Congress acts:
►Bill introduced that would force the DOL to wait until SEC has
acted
►Demands proof that DOL is coordinating with SEC
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©2013 Seyfarth Shaw LLP
Questions?
[email protected]
[email protected]
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https://aca-seyfarth.com
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