In a regulatory environment increasingly focused on transparency and accountability, what does it really mean to be a prudent fiduciary in a health and welfare context?
How HR leaders can turn pharmacy transparency into real leverage
In Part 2 of this series, we explore where employers have more leverage in pharmacy benefits than they realize—and how to apply it deliberately in the best interest of plan participants.
Why pharmacy transparency is becoming a C-suite issue
In Part 1 of a two-part series, we examine why pharmacy transparency has become a C-suite issue—and what it means for fiduciary oversight.
Voluntary benefits are becoming the next ERISA fee battlefield
A new wave of ERISA litigation is calling attention to voluntary benefits—an area many employers have long viewed as low-risk. In this piece, Andy Clonts explains why voluntary programs are drawing scrutiny, how compensation structures and loss ratios can create fiduciary exposure, and why plan sponsors should revisit the governance and financial mechanics behind these offerings before regulators or plaintiffs do.
The hidden pitfalls of DIY benefits implementations
Successfully implementing a new health and welfare benefits administration system is a complex, high-stakes process that requires careful planning, thorough data validation, and expert coordination across multiple vendors. Plan sponsors who attempt to manage this transition alone often face significant challenges.
Governance basics every plan sponsor should know
How do plan sponsors operate and administer employee benefit plans in a manner that is both effective and compliant with applicable regulatory and fiduciary obligations?
What happens when you squeeze a vendor too tight
When a plan sponsor (or search specialist working on the plan sponsor’s behalf) squeezes a vendor too tight, the resulting contract may come with an attractive price tag, but it will set plan sponsors up for a downstream nightmare of quality and service issues that negatively impact both plans and their participants.
6 things your pension administrator may not be doing
Are you getting the most from your defined benefit pension plan outsourcer? Here are six things to check the next time you look under the hood of your relationship.
Keeping up with all the players in outsourced benefits administration
The benefits outsourcing market is evolving rapidly, making it hard for plan sponsors to know what to look for — and who to consider — when preparing RFPs for the outsourcing of defined benefit, defined contribution, health and welfare and nonqualified benefits. Here are some tips.
Plan sponsors could consider a different solution to provider woes
Occasional employee complaints about a benefit plan are inevitable. But when they become a regular occurrence, it can point to more significant problems with a plan administrator or other vendor. Companies that find themselves in this position have several options — including an often-overlooked option that we call “vendor recovery.”