MedCity News July 28, 2024
Employers are starting to face lawsuits from employees for not fulfilling their fiduciary duty. However, employers are also struggling to access their claims data from their third party administrators, which makes it difficult to uphold their fiduciary responsibility, experts say.
Self-funded employers are finding themselves in a difficult position of late.
Employers have a fiduciary responsibility to make sure they’re offering employees the best medical benefits for the lowest price. And they need access to their medical claims data to do this.
However, on one hand, many employers are struggling to access their health data from third-party administrators (TPAs), making it difficult for employers to fulfill their fiduciary responsibilities and act in the best interests of their employees. This...
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