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Fiduciary Duty

What are my Fiduciary Responsibilities as a Self-Funded Employer?

Many midsize employers believe that self insurance is full of rules and redtape that fully insured plans don’t have. However, that’snot necessarily the case. Compliance is integral to self insurance and there are several items that you are responsible for as a self-funded employer, including:• ERISA fiduciary responsibilities,• Non-discrimination rules,• Reporting and disclosure,• Requirements notices,• …

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Testing Workers for COVID-19 Raises Privacy, Discrimination Issues

Employers whose businesses continue to operate are obviously concerned about the coronavirus spreading through their worksites, so many have started testing their workers. Recent U.S. Equal Employment Opportunity Commission guidance authorized employers to conduct COVID-19 testing and check temperatures of employees. But doing so could expose a business to a number of employee legal actions …

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What is Stop Loss Coverage?

The Ins and Outs of Stop Loss and Reinsurance

The number one concern I hear from employers when we talk about migrating to a self-insured or partially self-insured environment, is that they don’t want to be responsible for all the claims. What is stop-loss coverage? Stop-loss or reinsurance is how you protect yourself from large claims if you are self-insured. You should always have reinsurance. What …

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No More Mistakes

I imagine you’ve heard about several different ways to manage your stop-loss coverage as a mid-sized employer. I’m going to explain on option, stop loss coalitions, and how to make these contracts work for you. With group stop-loss coalitions you would purchase stop loss coverage as a group to help mitigate your risk, like you …

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