Attorneys & Professionals
Hosted by Vorys, Sater, Seymour and Pease LLP
Vorys attorneys Heather Enlow-Novitsky, Linda Mendel, Chris Poth and Lisa Pierce Reisz presented a webinar titled "Cybersecurity and Employee Benefit Plans - HIPAA and Beyond" on May 18, 2017.
Cybersecurity attacks are on the rise, particularly with respect to employee benefit plans. Every employee benefit plan maintains personal data such as names, addresses, social security numbers, dates of birth, account balance information, beneficiary information and bank account details. This individual data and the potential to access assets is an enticing target to cyber thieves. Most employers are aware of the HIPAA privacy and security requirements for group health plans, but many employers have not focused on protecting the personal data maintained by retirement, disability and life insurance plans which are also being targeted for attack.
The ERISA Advisory Council recently issued a report entitled "Cybersecurity Considerations for Benefit Plans" detailing the issues that fiduciaries of employee benefit plans should take into consideration for all of its employee benefit plans. We'll address a number of the issues raised in this report in this upcoming webinar, including an overview of the following:
- HIPAA privacy and security requirements for group health plans
- Laws and regulations governing personally identifiable information
- Fiduciary duty concerns for sponsors and fiduciaries of employee benefit plans regarding the protection of participant data and plan assets
- An overview of the "best practice" processes and procedures sponsors and fiduciaries should implement to manage the cybersecurity threats to employee benefit plans