Benefit management

Setting up a medical coverage plan requires knowing your clients and what drives their thinking.

Plan sponsors and advisers: “It is important to realize that three or four years from now, what is done today will be examined, and it needs to be done with a good standard of care and mitigation of conflicts of interest.”

The domestic steel producer saw savings of $870,000 after it initiated Castlight’s health navigation platform.

Here’s why it’s important: When it comes to benefit plan cost management, pennies make nickels and nickels make quarters.

The proposed changes to health savings accounts will require employee notifications and communication efforts as well as enrollment system and payroll changes.

Another legal challenge to the constitutionality of the Affordable Care Act has advisers grappling with new business strategies and tactics.

Plan sponsors and advisers: “It is important to realize that three or four years from now, what is done today will be examined, and it needs to be done with a good standard of care and mitigation of conflicts of interest.”

The domestic steel producer saw savings of $870,000 after it initiated Castlight’s health navigation platform.

This does not mean that plan sponsors and committee members cannot insist on getting non-conflicted fiduciary advice; it just makes their job harder.

Although red-flagged cases percentage of ineligible plan participants may be in single digits, wasted dollars add up and could fund other benefits if uncovered.