Understanding Your Fiduciary Responsibilities for Group Health Plans

For years, we’ve helped you understand your fiduciary responsibilities for retirement plans— but did you know that fiduciary duties extend to your group health plan?

Many employers are unaware that recent regulations under the Consolidated Appropriations Act (CAA) of 2021 are changing how they must manage group health plans—emphasizing fee transparency, including provider compensation.

With increased litigation targeting plan sponsors, understanding these new requirements is essential to mitigating risk and fulfilling fiduciary responsibilities.

If this sounds familiar, it's because we saw a similar shift with retirement plans in 2012. Now, it’s time to apply those lessons to group health plans.

• New Group Health Plan Regulations – CAA 2021, No Surprises Act and Transparency in Coverage (TiC) Rule

• Who’s Getting Paid & How? – Understanding the roles and compensation of brokers, insurance carriers, Ph*rm*cy benefit managers (PBMs), and other providers

• The Rising Cost of Prescription Drugs – How PBMs impact drug pricing and what you can do to manage costs

• Fiduciary Best Practices – Applying 401(k) lessons to build effective fiduciary processes for your health plan

Get ahead of these changes and ensure your health plan remains compliant and cost-effective. Secure your spot today!

Attendees will receive a Certificate of Attendance, which can be used to apply for 3 hours of continuing education credit.

Please note, this event is underwritten in part by sponsors of investment products.

We are not lawyers or tax professionals and this does not constitute legal or tax advice. We have not determined that this legislation, or any of the programs or relief discussed herein, is applicable to your specific situation.

Host or Publisher Everhart Advisors