AI in Employee Benefits Administration: Navigating the Legal Framework, Fiduciary Considerations, State Law Issues

BARBRI

Third-party administrators (TPAs) and insurers are using AI tools to add reliably and efficiency to the administration of employee benefit plans and services. Plan sponsors and their counsel must have a complete understanding of the challenges and risks associated with the use of AI, including but not limited to the current regulatory landscape for AI, data privacy, cybersecurity, and ensuring that they are protected when TPAs and insurers incorporate a variety of AI tools in providing services.

As the legal landscape continues to evolve, the role of AI in the employee benefits plan administration has expanded. AI tools are used by plan administrators to assess claims on behalf of health plan participants, generate summaries of key details of plans for employees, and detect fraud, among other key elements impacting the efficiency of plan administration. However, these uses of AI, along with other potential applications of AI in employee benefits plan administration, are riddled with challenges that plan sponsors and counsel must be equipped to handle.

Listen as our panel discusses the regulatory landscape for the use of AI in employee benefits administration, key risks and challenges, and legal issues and fiduciary risks that must be considered when TPAs and insurers utilize AI tools.

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