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View More Strafford Webinars, Podcasts and Conferences

ERISA Fiduciary Rules for Health and Welfare Plans: Compliance Requirements and Litigation Risks for Plan Sponsors

Strafford

Dec. 14, 2022 - Oct. 14, 2022
Recorded Online
Webinar

Minimizing Liability of Health Plan Operations, Prohibited Transactions, and Conflicts of Interest

This CLE course will guide ERISA counsel and plan sponsors on applying ERISA fiduciary rules to health and welfare plans. The panel will discuss the complex compliance requirements, determining who are considered fiduciaries for health and welfare plan decisions and transactions, litigation risks, and potential liability from plan operations issues, prohibited transactions, and conflicts of interests.

Description

Most cases involving the application of ERISA fiduciary rules and liability focus on plan sponsors of retirement plans. Recent cases include issues about fiduciary duties and breaches by sponsors, administrators, and trustees of health and welfare plans.

The Department of Labor (DOL) states that plan sponsors, administrators, and trustees are subject to ERISA's fiduciary rules when selecting a healthcare plan service provider. As fiduciaries of the health or welfare plan, employers must ensure that service providers meet required standards and that fees and expenses are reasonable when weighed against the benefits of the plan services.

Determining who fiduciaries are for health and welfare plan decisions and transactions under ERISA can be complicated and involve various factors. Fiduciaries and their counsel must grasp applicable rules regarding plan decisions and avoid prohibited transactions and conflicts of interest. Failure to adhere to these rules can lead to hefty penalties and fines.

Listen as our panel discusses fiduciary rules and potential liability for plan sponsors, administrators, and trustees of health and welfare plans, fiduciaries and litigation risks, and methods to avoid liability due to plan operations and transactions.

Outline

  1. ERISA fiduciary standards for health and welfare plans
    • Determining who is a fiduciary under health and welfare plans
    • Selecting healthcare plan service providers
    • Determining and reviewing health plan fees and expenses
  2. Potential fiduciary issues in third-party administrator contracts
  3. Prohibited transactions and conflicts of interest
  4. Recent cases and best practices for ERISA counsel and plan sponsors

More Information, How to Register

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