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Event Details

    What Employers Need to Know about Compliance and Regulation

    Date: January 20, 2017, 7:30am – 9:30am
    Organizer:
    Cumberland Valley SHRM Chapter
    Location:
    Homewood Suites
    1650 Pullman Lane
    Hagerstown, Maryland 21740
    Price:
    $20.00 MEMBERS $25.00 Non Members (Guests or individuals who have not paid 2016 dues), all of our event fees are non-refundable
    Event Type:
    Meeting
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    Please RSVP by Wednesday, 01/18/16 by registering on our website link-Register here!

     

    7:30 am -7:45 am - Registration/ Breakfast/ Networking

    7:45 am - 8:00 am  - SHRMCV Update

    8:00 am-  9:30 am -  Program 

    HR Competency:  tbd

     

    Speaker:  Troy Snyder 

    Learning Objectives:

    • Review the Department of Labor (DOL) regulatory and enforcement of ERISA
    • How to develop a comprehensive Department of Labor (DOL) audit checklist.
    • ERISA & Summary Plan Description (SPD) documents requirements
    • Review ACA and IRS reporting requirements for employers
    • Review key model Benefit Notices that may apply to group health plans

     

    .About the Program:

    Ready or not, they’re coming. If this is your year to be audited, will your documentation and plan operations be compliant? The Department of Labor (DOL) has regulatory and enforcement authority with respect to the Employee Retirement Income Security Act (ERISA) and other federal laws governing employee benefit plans. The DOL’s Employee Benefits Security Administration (EBSA) team has published aggressive goals to audit all employee benefit plans, either by means of document requests or onsite interviews.

     

    The importance of having accurate, up-to-date plan documentation and reporting is critical to avoid substantial penalties. Under ERISA, your failure to provide summary plan descriptions (SPDs) and other materials to plan participants can result in penalties.

     

    Historically, the EBSA has routinely conducted compliance audits on health and welfare plans while focusing the majority of its audit activities on pension and 401(k) plans. Those efforts continue, while the EBSA now also has stepped up the number and scope of audits it conducts on group health plans.

     

    Health benefit plan regulatory guidance is moving rapidly.  With all these developments, and the penalties for not complying with them, it is important that employers understand how the law could potentially affect them, and implement any of the necessary changes.

     About the Speaker:

    Troy Snyder is Vice President at Insurance Associates, Inc. He joined the firm in 2001 and has over 20 years of employee benefits experience.  Troy relies on his vast knowledge of the health-care insurance industry to help his clients manage their benefits program through sound strategies and innovative, cost effective plan solutions. He specializes in self-funding programs allowing clients to better understand their financial position and make better plan decisions.

     

    He works with employer groups and serves as a primary advisor to clients on all group insurance issues.  Keeping current with relevant industry changes and legislation allows him to effectively negotiate renewals, oversee marketing and consult with clients to implement the most suitable and cost effective benefit programs. His consulting encompasses all aspects of the employee benefit program – administration, communication, technology, HR support and compliance.

     

    Troy heads a team of experienced professionals that have in-depth product knowledge, technical expertise, excellent communication skills and are dedicated to providing best in class service to customers. He is responsible for maintaining and enhancing key vendor partnerships, developing best practices and strategies, and supporting our clients and team members with the best tools and resources. 

     Troy attended the University of Maryland and obtained a degree in Business Management.  He is a member of Frederick County SHRM and past board member of Maryland Association of Health Underwriters.  Troy is married with two children and is long-time resident of Maryland. In his spare time, he enjoys skiing, cycling, and running.