John Quinn
Founder & CEO, Wellnecity
As highlighted in our recent webinar, Mental Health Parity 101: What Employers Need to Know, tougher Mental Health Parity laws mean serious consequences for inaction: fines, lawsuits, and forced payouts. Compliance alone isn't enough. As a fiduciary, you're on the hook for your plan's performance — vendors won't shield you, and regulators won't wait. Act now.
What's at Stake
Neglecting compliance and fiduciary duty exposes employers to serious risks:
Regulatory Penalties
Denied claims? You may have to pay them back retroactively. IRS fines of $110 per day, per affected individual. Get compliant or face penalties via IRS Form 8928.
Fiduciary Liability (ERISA)
Fiduciaries can be held personally liable for plan mismanagement. Poor oversight erodes plan value and leads to weaker benefits for employees.
What to Do Now
Demand Full Transparency
Require complete and timely data from TPAs and PBMs. Review networks and reimbursement models regularly.
Make Smarter, Data-Driven Decisions
Use analytics to track outcomes, costs, and utilization. Find a qualified partner to assess mental health parity and act on audit findings.
Monitor in Real Time
Spot risks early. Proactive management and remediation is a good defense.
Lead or Be Led
Inaction signals you're comfortable with the risk. Lawyers prioritize employers without plan oversight basics. Put yourself lower on the target list.
Inaction says, "I'm okay with the risk of a disgruntled employee teaming up with a lawyer to sue me and my firm." Why not put yourself lower on the target list?
