Fiduciary duty and advisor pay. Who works for whom.
What being a health plan fiduciary means for an employer, and how benefits brokers and consultants are paid and must disclose it.
Start with the main guide
The health plan fiduciary committee
A health plan fiduciary committee is a group an employer formally appoints to make and record decisions about its group health plan, such as choosing vendors, reviewing fees and deciding appeals. ERISA does not require one, but it judges fiduciaries by their process, and a committee with a charter and minutes is how an employer shows that process.
Read the guideIn this guide
- What is a health plan fiduciary committee?
- How is it different from a retirement plan committee?
- Why are employers building them now?
- Who belongs on the committee?
- How do you set one up?
- What should the committee review each quarter?
- What are the common mistakes?
Guides 3
Insights 5
- Choosing an employee benefits brokerFiduciary duty and advisor payInsight
- The benefits dirty dozenFiduciary duty and advisor payInsight
- The Department of Labor auditFiduciary duty and advisor payInsight
- A CFO's fiduciary playbookFiduciary duty and advisor payInsight
- ERISA health plan litigationFiduciary duty and advisor payInsight
See what your plan is really costing you.
A Strategic Analysis starts with your plan documents and your broker agreement, then shows you what your plan costs, where the risk sits, and what a committee would decide with the full picture.