Are you paying unreasonable fees to your healthcare broker—and could it be putting your plan at risk for lawsuits? While many organizations stick with the same broker for years, few take a close look at their fees. Under the Consolidated Appropriations Act of 2021, broker/consultant fees are more transparent. Under ERISA, plan fiduciaries are required to evaluate the "reasonableness" of the fees paid by their brokers and consultants. In this session, you’ll gain a clear understanding of the disclosure and fiduciary requirements and learn practical methods for assessing fees, evaluating service levels, and managing fiduciary risks. Discover strategies to protect your organization and potentially save money while meeting compliance obligations.

Don't miss this chance to strengthen your approach to health plan oversight and ensure your fiduciary practices align with regulatory expectations!

Key Takeaways

• Understand the broker fee disclosure requirements under the Consolidated Appropriations Act (CAA) of 2021 and it’s impact and risks to plan sponsors.
•  Gain an understanding of fiduciary responsibilities including the broker RFP and vender oversight processes.
•  Learn how to mitigate the risk due to the new disclosure requirements.