Shielding American businesses who are
NOT the criminals in the modern healthcare equation.
Fiduciary Auditing Services
FIDUCIARY AUDIT SERVICES
The current TIDAL WAVE OF CLASS ACTION LAWSUITS initiated by the unprecedented Johnson & Johnson case from earlier this year put self-funded plan sponsors in the litigation crosshairs for overcharges and undisclosed or inappropriate costs in their employee health plan. Employer legal fiduciary responsibility was recently established and upheld in court over 401(k) plan fees, and the litigation waters are now being tested to see if prosecutors can extend the fiduciary requirements and liability to employee health plans as well.
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Only this time... it's personal!
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Executives and HR are being PERSONALLY NAMED AS DEFENDENTS alongside their companies, and must now lawyer up and defend their choices in brokers, plans, pharmacy benefit managers, and administrators selected for their employees' health plans.
Good people and hard-working leaders will have to step up to the witness stand and be examined and cross-examined on every single underlying aspect, minor detail, and tiniest charge in their health plan design, fielding questions such as "Why did you agree to allow your PBM to utilize a drug formulary that reclassified generic drugs as specialty drugs, thus costing your employees thousands more than if they had no insurance at all?"
These folks are tasked with running a business, not being licensed insurance brokers, well-equipped to identify and expose the criminal underpinnings of their carrier relationships. AND THEY ARE MOST CERTAINLY NOT THE CRIMINALS IN THE MODERN MAFIA EQUATION.
These lawsuits DEMAND a corporate response.
Integrity Benefit Partners immediately went to work for our valued executive and HR partners, and have designed a game-changing counterattack - CERTIFIED INDEPENDENT EMPLOYEE HEALTH PLAN AUDITS for health plan fiduciaries.
An independent audit of your employee health plan costs and structure is a smart move for any plan sponsor looking to protect themselves from potential lawsuits. As a fiduciary, you’re responsible for ensuring the plan is managed in the best interest of your participants, and an certified audit can provide clear evidence that you’ve taken the necessary steps to ensure you have all the right partners at the table to help you control costs and maximize benefits.
By bringing in an external party to review your plan’s pricing, contracts, and performance, you can demonstrate that you’re actively working to ensure the plan is both efficient and cost-effective. This helps safeguard you from claims of mismanagement, as it shows you’re fulfilling your fiduciary duties with thorough, unbiased oversight.
With one managing CPA, two former internal auditors, and four self-funded strategists in house, Integrity Benefit Partners is are uniquely positioned to offer something no other audit firm to date has offered - a deep-dive audit of employer self-funded plan structures and vendors to help identify overcharges and uncover opportunities for savings and overall plan improvement!
At the conclusion of our review, certified audit recommendations are provided to you and can be shared with your broker and filed away annually as proof of fulfillment of your fiduciary commitment to your employees' health plan.
