Benefits Notes
MARCH 1, 2022
Section 405 of the Employee Retirement Security Act of 1974 (ERISA) provides for joint liability for co-fiduciaries of a pension, health or welfare benefit plan. In this case, there was an enrollment error in signing up an employee for life insurance coverage with his employer – Georgio Armani Corp.
Corporate Synergies
NOVEMBER 5, 2018
Knowing how to approach the annual renewal with health insurance carrier, pharmacy benefits manager (PBM) and other players can help the savvy employer save some money while maintaining the same level of benefits as before. A good carrier relationship can help you come to an agreement when negotiating benefit renewals.
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Corporate Synergies
AUGUST 27, 2018
Healthcare plan participants typically use pharmacy benefits more than any other part of the health & welfare program. There are typically three ways employers work with PBMs: A PBM bundled with the insurance carrier. A “third party carve-out,” in other words, a PBM that is separate from the insurance carrier.
Total Employee Benefits
DECEMBER 14, 2021
The insurance carrier is generally responsible for plan compliance in a fully insured policy. In the end, whether an organization is fully insured or self-funded, they should make sure their insurance carrier or TPA is ready to meet the demands of this new legislation.
Genesis HR Solutions
JANUARY 8, 2019
Health and welfare benefits and COBRA. Both options manage insurance partners (but in different ways). Both ASOs and PEOs take on the burden of managing vendors, but the difference is that an ASO could potentially be managing an insurance carrier for each of its clients, while a PEO has a single carrier and a team.
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