Avoid regulatory and other pitfalls while ensuring every aspect of a successful benefit plan is being handled.
In light of the Consolidated Appropriations Act (‘CAA’) and recent lawsuits, it is critical for healthcare plan sponsors to understand their fiduciary duties to the plan and plan participants. They must understand the law, but just as importantly, understand how to comply with the law from a practical standpoint.
The live webinar also explains how plan sponsors can work with TPAs to provide valuable benefits and value-added services to their employees and plan participants. This results in a healthier employee population and leads to corporate success.
Learning Objectives
- You will be able to define the role of a healthcare plan sponsor and related fiduciary duties.
- You will be able to describe key legal and practical issues applicable to healthcare plan sponsors.
- You will be able to discuss the issues to consider when assessing a current TPA or potential new TPA.
- You will be able to explain the role of a healthcare plan TPA and the various services provided by TPAs.
Agenda
Why Do You Need a Healthcare Plan Third-Party Administrator?
- Plan Sponsor Fiduciary Duties
- Consolidated Appropriations Act
- Recent Lawsuits
What Should You Look for in a TPA?
- Coordination of Plan Service Providers
- Comprehensive Plan Design Options
- Performance of Plan-Related Administrative Tasks
What Should You Consider With Regard to TPA Costs?
- Totality of Services Provided (e.g., Claims Processor vs. Limited Fiduciary/Plan Liaison)
- Customization for Plan Sponsor
- Plan Protection
Will the TPA Customize Services for the Plan Sponsor?
- Customization - All Plan Sponsors Are Different (e.g. Industry, Employee Population, Risk Tolerance)
- Additional Services Needed (e.g., Claims Auditing, Cost Containment)
- Recommendations Regarding Value-Added Services
Will the TPA Assist With Plan Protection and Compliance?
- Fiduciary Roles and Related Responsibilities
- Legal Compliance
- Final Thoughts
Speakers
Emily Langdon,
Fraser Stryker PC LLC- Partner/Shareholder at Fraser Stryker PC LLC
- Practice focuses on employee benefits, ERISA, and executive compensation
- Significant experience advising clients regarding health and welfare benefit plans, qualified and nonqualified retirement plans, equity incentive plans, and wellness plans
- Expertise includes advising clients with ties to the healthcare and pharmacy benefit management industry on business and contractual matters, practitioner employment agreements, administrative services agreements, compensation plans, and confidentiality and non-disclosure agreements
- Regularly counsels clients in the area of healthcare law, including healthcare reform and HIPAA compliance
- Assists clients with the implementation and operation of employee stock ownership plans (ESOPs) and multiple employer welfare arrangements (MEWAs), as well as managing benefits issues related to corporate transactions, including mergers and acquisitions due diligence
- Frequently speaks on topics regarding employee benefits and ERISA
- J.D. degree, cum laude, Creighton University School of Law; B.A. degree, magna cum laude, University of Notre Dame
