Employer Benefits Spotlight
Who Should Be Held To Fiduciary Standards? Does It Really Matter?
October 17, 2023 | 2 PM ET
The term fiduciary now seems to be almost ubiquitous in conversations and debates about the future of health benefit sponsorship and administration. Many wonder should anyone really care one way or the other and would it make any difference in either cost of care or quality of care delivered to health plan enrollees if all stakeholders shared fiduciary responsibility?
Hear the perspectives of two of the nation’s leading experts on these important questions from the perspective of plan sponsors, benefits advisors, and benefits administrators such as TPA, carriers, and PBMs.
Topics covered will include:
- Past and future policy reforms and pending litigation related to fiduciary duties for benefit administrators
- Possible amendments to ERISA related to vendor payments, compensation disclosures, and prohibited transactions
- Legal and regulatory risks employers and benefits advisors need to be aware of at both the state and federal level
- Best practices for employers and advisors in the emerging fiduciary landscape
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Purchaser Business Group on Health
Darren is the Associate Director of Purchaser Value at PBGH, where he supports PBGH’s members (employers and public purchasers) in meeting and taking advantage of their enhanced fiduciary obligations under the 2021 Consolidated Appropriations Act (CAA). Prior to joining PBGH, Darren worked for ethical and transparent healthcare benefit consulting firms in business development, financial analytics, and strategic advising roles. He also worked for eight years at a nonprofit in Washington, D.C. called the Institute for the Fiduciary Standard, where he now serves on the Board of Directors. Darren founded and led the Committee for Fee-Only Benefits Advisors, a not-for-profit group of healthcare industry leaders who advocate for fiduciary principles and transparent compensation in benefits consulting.
Paul B. Holmes | Partner
Paul is a seasoned ERISA lawyer with nearly 40 years of specialization in that field. Paul joined Williams Barber Morel Trial Lawyers after 31 years with Nixon Peabody LLP and Ungaretti & Harris LLP. He has extensive and unique experience in representing large employers and Taft-Hartley welfare funds in their selection, contracting, auditing and litigation with large pharmacy benefit managers. This work includes active oversight of the RFP process for selecting a PBM, the negotiation of final PBM contracts (including pricing, rebates and audit rights), and regular audits of PBM compliance with their contracts.
Moderator: Renzo Luzzatti | President
Renzo has over 25 years experience in the healthcare industry with a primary focus in managed care, pharmacy, and pharmacy benefits. His healthcare career has included management roles in almost every facet of the pharmacy world from drug development, manufacturing, and marketing to dispensing and care delivery as well as pharmacy benefit risk management. He co-founded US-Rx Care in 2007 to address identified service and efficiency gaps in the pharmacy benefit marketplace. US-Rx Care has since become a valued, reliable business partner to benefits management firms, health plans, and self-funded employers large and small.