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

Featured Jobs

Defined Benefit Combo Cash Balance Compliance Consultant

Loren D. Stark Company (LDSCO)
(Remote)

Loren D.  Stark Company (LDSCO) logo

Director of 3(16) Operations

Compass
(Remote / NH / Hybrid)

Compass logo

Regional Vice President of Sales

The Retirement Plan Company
(Remote / AL / FL / GA / MS)

The Retirement Plan Company logo

Business Development Director

AimPoint Pension
(Remote / Pompano Beach FL / AL / GA)

AimPoint Pension logo

Retirement Plan Administrator

Bates & Company, Inc.
(Remote / Winter Park FL)

Bates & Company, Inc. logo

Loan & Distribution Specialist

AimPoint Pension
(Remote)

AimPoint Pension 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

A Self-Funded Employer's Worst Nightmare
Leonard, Street and Deinard Link to more items from this source
May 13, 2013

"The employer changed to a self-funded plan and purchased stop-loss that provided coverage for member claims that exceeded $75,000 up to a $1 million lifetime maximum. The employer thought that the health plan imposed a $1 million lifetime maximum on benefits.... [When the employer found itself responsible for payment of a claim that exceeded that maximum,] the employer argued that the agents had a special relationship with the employer in the design of the plan and the stop-loss coverage.... [T]he court refused to dismiss that claim. Thus, the employer will have the opportunity to show the court that there was a fiduciary relationship between the insurance agents and the employer and that the insurance agents should cover the losses not covered by the stop-loss insurance."

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).
© 2024 BenefitsLink.com, Inc.