News / Events
Webinar: ERISA Law and Health Care Quality
Jamie Greenleaf, Co-Founder of Fiduciary In A Box, appeared in a webinar today, alongside Leah Binder, Karen Handorf, and Julie Selesnick.
Watch the full webinar here:
Some key quotes include:[6:40] “People that are running healthcare plans are fiduciaries of those healthcare plans, and that means they are subject to ERISA’s fiduciary responsibilities, which one court described as “the highest known to the law.” That means that if you are a fiduciary you have a duty to act prudently and loyally, and exclusively for the purpose of providing benefits to your participants and beneficiaries, and deferring the reasonable costs of the plan. You must follow the plan terms, unless they violate ERISA, and you cannot engage in what ERISA calls prohibited transactions.”
– Karen Handorf, Senior Counsel, Berger Montague [9:55] “You can’t be on automatic pilot. You can’t think that your service provider is your friend and that they’re doing everything right for you. You must engage also in a process to evaluate the performance and cost of your healthcare options on an ongoing basis.”
– Karen Handorf, Senior Counsel, Berger Montague [11:50] “You’re not expected to be infallible, but you are expected to pay attention and have a process in place. And if you don’t do that, you have litigation liability unfortunately. ERISA gives your employees the right to sue you for fiduciary breaches, and it gives the Secretary of Labor the right to sue you for fiduciary breaches. What does that mean? Obviously, that would be a great disruption to your business, but you are personally liable for the losses that are caused by those fiduciary breaches.“
– Karen Handorf, Senior Counsel, Berger Montague