Health and Welfare Plans

Because ERISA imposes complex responsibilities and restrictions on Fiduciaries of employee benefit plans, it is important that you seek a professional expert in this area. If you are a Plan Sponsor or a Trustee of a Health & Welfare Plan, you have a fiduciary responsibility to the participants and beneficiaries of the Plan and you can be personally held liable for not keeping the Plan in compliance with all ERISA and all regulations of the different governing bodies (IRS & DOL). Whether a Plan Sponsor is voluntarily seeking professional advice on their Plan or a Plan Sponsor is instructed to do so by a government agency; this is when an Independent Fiduciary is hired. If you are a Trustee of an ERISA covered Plan, it would be in your best interests to engage an Independent Fiduciary for Fiduciary Audits and Compliance Reviews in order to prevent violations of the Health & Welfare Plan before they occur. Violations in these Plans can be extremely costly to the Plan Sponsor and/or Trustees of the Plan. The ERISA Advisory Group can be engaged and retained for the following type of services:

  • Review Operating Agreements and Administrative Contracts of all Service Providers and make recommendations regarding fees and operation efficiencies.
  • Determination of administrative expense allocations for the payment of fees of an ERISA covered Plan.
  • Review and calculate Per Employee Per Month (PEPM) cost allocations.
  • Preparation of annual Board reports as they relate to the operation of the Plan.
  • Review Plan enrollment numbers to determine expense ratios for the payment of administration fees for Multiple Employer Welfare Arrangements (MEWA).
  • Prepare a Request for Proposal (RFP) for administrative services.
  • Review Administrative Agreements for Third-Party Administration Services.
  • Review commission structures that a MEWA pays to Insurance Agents.
  • Act as an Independent Third Party between the Plan Sponsor and the Governmental Agency when violations of ERISA occur.
  • Provide consulting services for PEOs and bona fide Trade Associations that would like to offer a MEWA to their Members.
  • Provide consulting services for the establishment of a MEWA for a Trade Association or PEO arrangement.
  • Act as Trustee of the MEWA.
  • Act as a 3(16) Fiduciary for Health and Welfare Plans.
  • Complete and review M-1 Filings to the US DOL-EBSA.
  • Work with MEWAs who have not filed the M-1 properly.
  • Review transactions for possible violations of the Prohibited Transaction statues of ERISA.
  • Provide expert witness testimony for Court Cases involving Health & Welfare Plans.
  • Work with Consultants on Captive Insurer arrangements.
  • Guest Speaker Engagements.

After a Compliance Review or Fiduciary Liability Audit is completed, we will provide a full written report on the review or audit findings and provide recommendations to correct any deficiencies in the operation of the Plan.

Contact Us

If you would like to speak with one of our Consultants about any of the services that The ERISA Advisory Group provides, please contact: