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

Featured Jobs

Distributions Processor - Qualified Retirement Plans

Anchor 3(16) Fiduciary Solutions, LLC
(Remote / Wexford PA)

Anchor 3(16) Fiduciary Solutions, LLC logo

Defined Benefit Specialist II or III

Nova 401(k) Associates
(Remote)

Nova 401(k) Associates logo

Retirement Plan Termination Specialist

Compass
(Remote / Stratham NH / Hybrid)

Compass logo

Plan Administrator

DWC ERISA Consultants LLC
(Remote)

DWC ERISA Consultants LLC logo

Client Service Specialist

EPIC RPS
(Remote / Norwich NY)

EPIC RPS logo

Implementation Specialist

Nova 401(k) Associates
(Remote)

Nova 401(k) Associates logo

Retirement Combo Plan Administrator

Heritage Pension Advisors, Inc.
(Remote / Commack NY)

Heritage Pension Advisors, Inc. logo

Plan Installation Manager

July Business Services
(Remote / Waco TX)

July Business Services logo

Regional Sales Consultant

The Pension Source
(AL / AR / GA / KY / MS / TN / TX)

The Pension Source logo

Senior Plan Administrator

Merkley Retirement Consultants
(Remote)

Merkley Retirement Consultants 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

Federal District Court Finds Blue Cross Blue Shield of Michigan Liable for Wrongfully Paying Itself Certain Fees (PDF)
U.S. District Court for the Eastern District of Michigan Link to more items from this source
Sept. 11, 2012
The plaintiffs are two employers sponsoring self-insured health plans for which Blue Cross Blue Shield of Michigan provided claims administration services and health care provider network access under an Administrative Services Contract. "These cases are about certain fees that Blue Cross allocated to itself as additional administrative compensation.... Section 1106(b)(1) prohibits a fiduciary from 'deal[ing] with the assets of the plan in his own interest or for his own account.' This is plainly what Blue Cross did when it unilaterally determined the amount of Disputed Fees to keep as part of its administrative compensation and collected those fees from plan assets. Because Section 1106(b)(1) sets forth 'an absolute bar against self dealing' by a fiduciary, Blue Cross is liable." [Boroughs Corporation v. Blue Cross Blue Shield of Michigan, No. 11-12565 (E.D. Mich., Sept. 7, 2012)]

MORE >>

Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title).
An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above).