Avoiding the ERISA check engine light: A little work now can save big headaches later

If you’re listening to this podcast you might be a medical plan fiduciary … and there are a few things you need to know. Medical plan fiduciaries face a small, but significant, risk of litigation related to their plan’s administration, and related to what the fiduciaries should be doing but often aren’t.

In this episode, we clarify who is a fiduciary and why your medical plan might need some regularly scheduled maintenance! Ethan McWilliams, who used to carry a badge at the DOL, joins Ed and Scott to talk about the role of a fiduciary, why it’s important for them to do a little medical plan “preventive maintenance,” and how a new service from Lockton, the Lockton Fiduciary Shield, can help.

• Are we saying goodbye to the “Cat Man?”
• Where are the most common fiduciary danger zones?
• Whoa, whoa…you’re saying fiduciaries are supposed to KNOW SOMETHING about how their plan operates? (Ed is concerned.)
• Why are good notes so critical to the fiduciary decision-making process?
• As a fiduciary, would you find a medical plan “owner’s manual” helpful?
• What do Scott and Stranger Things have in common? (Hint: nothing and everything!)