The Affordable Care Act is full of new taxes (and tax benefits) for both employers and individuals. This session will provide a high-level overview of the fundamental overhaul to the healthcare system that went into effect throughout 2014 and 2015. Then, the session will take a deeper dive into some of the taxes and tax credits available under the law to employers and individuals, as well as some of the new tax reporting forms.
What are the key components that changed under the US healthcare system?
What are the taxes that might impact large employers and the benefits available to small employers?
How can individuals avoid liability under the individual mandate?
What other “revenue generators” under the law have the potential to significantly impact employers and individuals?
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.