Subscribe (Free) to
Daily or Weekly Newsletters
Post a Job

Featured Jobs

Combo Plan Administrator

Pollard & Associates

Pollard & Associates logo

TPA Retirement Plan Consultant



Compliance Officer

New York City District Council of Carpenters Benefit Funds
(New York NY)

New York City District Council of Carpenters Benefit Funds logo

Defined Benefit Combo Cash Balance Compliance Consultant

Loren D. Stark Company (LDSCO)

Loren D.  Stark Company (LDSCO) logo

Retirement Plan Consultant

Great Lakes Pension Associates, Inc.

Great Lakes Pension Associates, Inc. logo

Senior Plan Administrator

Retirement Planners and Administrators (RPA)

Retirement Planners and Administrators (RPA) logo

Defined Contribution Account Manager

Nova 401(k) Associates

Nova 401(k) Associates logo

Defined Benefit Consultant/Enrolled Actuary

Pension Plan Specialists, PC
(Vancouver WA)

Pension Plan Specialists, PC logo

RP-Client Service Associate

Greenline Wealth Management
(FL / Hybrid)

Greenline Wealth Management logo

View More Employee Benefits Jobs

Free Newsletters

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Mobile app icon
LinkedIn icon     Twitter icon     Facebook icon

Press Releases by Date   |   Press Releases by Company Name

View More Press Releases by Employee Benefits Security Administration [EBSA], U.S. Department of Labor

Press Release

DOL Obtains Consent Judgment Barring Aliera Healthcare, CEO Shelley Steele from Serving as ERISA Fiduciaries, Service Providers

Issued by Employee Benefits Security Administration [EBSA], U.S. Department of Labor

Aug. 7, 2023

Aliera, Steele alleged to have paid more than $100M to themselves, affiliated businesses

WASHINGTON – The U.S. Department of Labor has obtained a judgment barring a plan administrator and its CEO Shelley Steele from serving as fiduciaries or service providers to any plan covered by the Employee Retirement Income Security Act, amid allegations they, improperly paid themselves and affiliated businesses more than $100 million.

The action in the U.S. District Court for the Northern District of Georgia follows an investigation by the Philadelphia regional office of the department’s Employee Benefits Security Administration that found The Aliera Companies, doing business as Aliera Healthcare Inc., and Steele commingled hundreds of millions of dollars in funds received from individuals and ERISA-covered health plans.

Based in Atlanta, Aliera created, marketed, sold and administered health coverage for approximately 1,025 employers across 39 states for ERISA-covered employer-sponsored plans. The company and its CEO serve as fiduciaries to more than 1,000 U.S. employer-sponsored health plans.

“Shelley Steele and The Aliera Companies flagrantly violated their duties as fiduciaries by failing to act solely in the interest of plan participants and their beneficiaries,” said Acting Regional EBSA Director Norman Jackson in Philadelphia. “This judgment should serve as a warning to other fiduciaries who choose to place the interests of themselves over the plan participants.”

Aliera partnered with healthcare sharing ministries and sold healthcare products to individuals and ERISA-covered employer-sponsored group health plans that included a claimed health care-sharing ministry component. The company received at least $543,941,705 in healthcare payments from individuals and employer-sponsored group plans and commingled these payments. Although the vast majority of the payments Aliera obtained were made by individuals, the company also received more than $17 million from more than 1,000 ERISA-covered employer-sponsored group plans.

A lawsuit filed by the department’s Office of the Solicitor alleged that Aliera and Steele made payments of more than $100 million from those commingled funds to Aliera, Steele and their affiliated businesses, and only used approximately $189,226,916 of the money it received to pay healthcare claims for individuals and ERISA-covered plans. The Aliera Companies Inc. filed for bankruptcy in federal court in Delaware. On August 4, 2023, the department filed a proof of claim in the ongoing bankruptcy proceedings in the amount of $3,874,950 for the amounts owed by Aliera to more than 1,000 ERISA-covered plans.

View More Press Releases by Employee Benefits Security Administration [EBSA], U.S. Department of Labor

Editor's note: This press release has been issued by the company named above, not BenefitsLink. Reliance on information in this press release might be prudent only after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by BenefitsLink.