Craig Lack
See the following -
CEOs/HR Execs Facing Personal Liability: Dereliction of Fiduciary Duties Triggering Labor Dept Investigations
The first shots across the bow have been fired highlighting how benefits leaders need to pay as close attention to health benefits as they have been paying to retirement plans. The most recent lawsuits name the HR leaders in the companies involved (GAP and CB&I) as defendants since they are listed as the plan administrator (sometimes CFOs are the plan administrators). It’s clear that there is going to be the increased scrutiny for health benefits that has been commonplace for retirement benefits. For example, you can Google “ERISA class action” to find the many cases surrounding retirement benefits going after plan administrators for failing in their fiduciary duties. Similar cases in healthcare could have as far-reaching implications as Obamacare in driving employers to health benefits that deliver value...
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The Annual Health Benefits Kabuki Dance Has Created the Greatest Heist in American History
The data is clear that the middle class is in an economic depression because of looks like a breach of fiduciary duty by their employers. This has created the strangest election in my lifetime -- look no further than 1930s Germany to see the effects of sustained economic duress on a citizenry. Donald Trump and Bernie Sanders represent the primal screams of the American middle class that is at least 95% driven by healthcare's unnecessary and easily avoided hyperinflation. It's stupefying how companies that will rigorously check whether there's a receipt for a $58 dinner an employee reported, will blindly squander millions unnecessarily on healthcare.
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