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The Good, The Bad, and The Ugly – Ethics: Simple Mistakes vs. Breach

As the Department of Labor hones in on what is ethical (or unethical) and what constitutes fiduciary liability, plan administrators, third party administrators, brokers, and various advisors who service self-funded plans must make a renewed effort to ensure that their actions are in compliance with current legal and ethical standards. All self-funded entities must take steps to avoid actions that may be deemed unethical or in violation of their considerable responsibilities - and even when exercising good faith, it is still possible to act unethically.

“Every day, millions of dollars are responsibly handled by HCAA members on behalf of self-funded health plans. Unfortunately, we all know of cases where our fellow administrators have made errors or acted unethically,” said HCAA’s CEO, Carol Berry. “The Phia Group’s attorneys are experts in the fields of ethics and fiduciary liability, and we thought it timely to partner with them in presenting an informational webinar to our industry.”

Thank you for joining The Phia Group’s CEO, Adam V. Russo, Esq., and Sr. Vice President and General Counsel, Ron E. Peck, Esq. on November 15, 2016. In this presentation, they delved into the intricacies of the law surrounding self-funded ethics and examine recent case law involving entities that have toed the line of unethical behavior, sometimes finding themselves on the wrong side of this quagmire.

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Click here to download audio.