"Plan sponsors who maintain only fully insured welfare benefit plans may think that they don't have to focus on fiduciary compliance, as the insurance carrier handles the payment of claims and the plan sponsor's only financial obligation is to timely remit premium payments. However, even a fully insured plan has multiple obligations that cannot be fully outsourced to the insurer ... An employer with a self-funded plan must comply with all of [these] obligations and has additional challenges, including monitoring claims and placing stop-loss insurance."

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