Embracing a Fiduciary Mindset
One of the most important lessons I’ve learned over my long career has been the role an advisor can play in helping health plan sponsors embrace a fiduciary mindset. This means employers taking on the widespread lack of transparency and prevalence of conflicts of interest for the benefit of their employees/plan members.
All too often, plan sponsors assume they have little opportunity to control or reduce their healthcare spend. They accept the status quo and do not challenge brokers who are receiving financial incentives to keep them in poorly managed arrangements with specific insurers. (more…)