Benefits & Compensation Alert >> Shooting from the HIPAA: Final Regulations Require Employer Action - Alert - 03/20/2013
By Mark E. Bokert; Alan Hahn; and A. Derek Nelson
The Department of Health and Human Services (HHS) recently issued final regulations under the Health Information Technology for Economic and Clinical Health Act (HITECH). Employers must take action to ensure their group health plans comply with the final regulations.
Benefits & Compensation Alert >> Health Care Reform Update: Employers Must Quickly Finalize 2014 Compliance Efforts - Alert - 02/26/2013
By Mark E. Bokert, Alan Hahn, A. Derek Nelson
Regulators have recently issued a voluminous amount of guidance addressing how employers must comply with the Patient Protection and Affordable Care Act (PPACA).
Benefits & Compensation Alert >> Not Dangling Off the Fiscal Cliff: Legislation Offers Solid Planning Opportunities for Employee Benefit Programs - Alert - 01/16/2013
By Mark E. Bokert; Alan Hahn; A. Derek Nelson
On January 1, 2013, Congress passed the American Taxpayer Relief Act of 2012 (the Act). In addition to steering us away from the fiscal cliff, the Act contains important planning opportunities for employers wishing to enhance their employee benefit programs.
Benefits & Compensation Alert >> Making Sense of The Medical Loss Ratio Rebate Guidance - Alert - 08/30/2012
By Mark E. Bokert, Alan Hahn and Allegra C. Wiles
Health insurance issuers were required to provide rebates to policyholders, including most large employers, by August 1, 2012.
Davis & Gilbert LLP Represents Weather Underground in Recent Merger - Press Release - 07/24/2012
New York, NY, July 24, 2012 – Davis & Gilbert acted as lead counsel to the world’s first online weather service, Weather Underground, in its acquisition by industry leader and competitor, The Weather Channel Companies. The acquisition, which resulted in the combination of two of the largest and most revered weather outlets, was announced publicly on July 2, 2012 and closed on July 13, 2012. Weather Underground, which runs the website wunderground.com, is known for providing the most comprehensive and reliable weather information available.
Davis & Gilbert Counsel to WPP plc in AKQA Acquisition - Press Release - 07/17/2012
New York, July 17, 2012 – Davis & Gilbert acted as lead counsel to WPP Group plc, one of the world’s largest communications groups, in its acquisition of AKQA Holdings, Inc. AKQA is the world’s leading independent digital agency and recipient of numerous “Agency of the Year” awards, and the transaction represents one of the largest-ever acquisitions of a digital ad agency. AKQA will operate as an independent and standalone brand within WPP Group. AKQA had assets totaling $282 million at the end of 2011, and projects revenues of $230 million for 2012. It employs 1,160 people across offices in San Francisco, New York, Washington DC, London, Paris, Amsterdam, Berlin and Shanghai.
Benefits & Compensation Alert >> IRS Updates Guidance For W-2 Reporting Of Employer-Sponsored Health Coverage - Alert - 01/25/2012
As we previously reported (click here to view Alert), the new Patient Protection and Affordable Care Act (PPACA) requires employers to report the cost of employer-sponsored health coverage on an employee’s W-2 generally beginning with W-2s issued in January 2013 for the 2012 tax year. IRS Notice 2011-28, which was issued early last year, provided initial guidance on the new reporting requirement. However, the IRS recently issued Notice 2012-9, which updates and supersedes the initial guidance.
Benefits & Compensation Alert >> New York Adds New Reporting Requirements for Dependent Health Benefits - Alert - 08/11/2011
The Low Income Support Obligation and Performance Improvement Act (the Act) now requires employers of individuals working in New York state to provide information on the availability of dependent health insurance benefits to their employees.
Benefits & Compensation Alert >> Impact of New York’s Marriage Equality Act on Employers - Alert - 08/04/2011
On July 24, 2011, New York’s Marriage Equality Act (the Act) became effective, making New York the sixth, and largest, state to permit same-sex marriage. The Act “formally recognizes otherwise-valid marriages without regard to whether the parties are the same or different sex” and provides that all married couples “be treated equally in all respects under the law.”
Benefits & Compensation Alert >> Employer-Sponsored Health Coverage: W-2 Reporting - Alert - 04/25/2011
On March 29, 2011, the Internal Revenue Service (IRS) issued Notice 2011-28 which provides interim guidance on informational reporting to employees on the cost of employer-sponsored group health coverage.
Benefits & Compensation Alert >> Final Opportunity To Correct 409A Violations - Alert - 10/26/2010
Employers that sponsor deferred compensation plans have a final opportunity to correct plan provisions that violate Section 409A of the Internal Revenue Code without, in most instances, subjecting their employees to penalties. All corrections must be made by December 31, 2010 and must adhere to the IRS's recently introduced voluntary document correction program. Given this opportunity, employers may wish to review their deferred compensation arrangements one final time (particularly employment contracts, as explained below), to ensure they are in compliance with Section 409A. After December 31, 2010, corrections may still be made but the correction procedures become more severe.
Benefits & Compensation Alert >> Can Employers Keep Their Health Plans Grandfathered Under Health Care Reform? Answer: With Great Difficulty - Alert - 07/01/2010
The new regulations will require employers to make a choice between maintaining a grandfathered health plan or making desired changes to its plan. Employers should review the new regulations with counsel and weigh the costs and benefits of grandfathering before making any health plan changes. Employers should stay tuned for further health care reform guidance.
PRWeek: Immediate Concerns of Employers Under Healthcare Reform Legislation - Published Article - 06/25/2010
By: Michael C. Lasky
Massive healthcare reform legislation signed into law on March 23, 2010, imposes significant new responsibilities on employers thatwill likely, over time, fundamentally alter the nature of employer-sponsored group healthcare. While many of the provisions of the act will not apply until 2014, many are effective right now or will be very soon. Therefore, it is essential that employers begin planning and preparing for healthcare reform legislation immediately.
Benefits & Compensation Alert >> Health Care Reform Legislation: Signed, Sealed, Delivered - Alert - 04/01/2010
Massive health care reform legislation was signed into law on March 23, 2010 by President Obama. The Patient Protection and Affordable Care Act (the Act) overhauls our nation’s health care system. It also imposes significant new responsibilities on employers that will likely, over time, fundamentally alter the nature of employer-sponsored group health care.
Forbes.com // Execs Face Dec. 31 Deadline On Deferred Pay - Press Mention - 12/15/2009
Benefits & Compensation / Labor & Employment Alert >> GINA Requires Immediate Update To EEO Posters And Policies And Possible Revision Of Benefit Plans - Alert - 11/10/2009
Employers must immediately update EEOC posters and review EEO/unlawful harassment policies and group health plans to determine whether they must be revised. Timing is key for employers who are in or are about to begin 2010 enrollment for benefit plans.
Benefits & Compensation Alert >> HIPAA in a “Hitech” World - Alert - 08/31/2009
The Department of Health and Human Services published guidance on August 24, 2009 addressing new HIPAA breach notification rules, which are effective September 23, 2009. HIPAA covered entities, including employers that sponsor health plans, and business
Benefits & Compensation Alert >> New Legislation Includes Significant COBRA Changes - Alert - 02/24/2009
The American Recovery and Reinvestment Act of 2009 (Act) provides recently terminated employees with a 65% federal subsidy of their COBRA premium payments. Employers that sponsor group health plans must take immediate action to facilitate the subsidy.
Employee Benefit Plan Review: Private Company Stock Options Under Section 409A - Published Article - 12/01/2008
By: Mark E. Bokert
Section 409A of the Internal Revenue Code was enacted on October 24, 2004 and sets forth rules that apply to deferred compensation plans. Because of its breadth, Section 409A applies to many arrangements that are not historically considered to provide deferred compensation—such as stock options.
Employee Benefit Plan Review: Specified Employees Under Section 409A - Published Article - 09/01/2008
By: Mark E. Bokert
Internal Revenue Code Section 409A requires that any deferred compensation paid to a “specified employee” of a public company on account of his or her separation from service must be delayed for six months following the separation. This requirement is known as the “six-month delay rule.”
