Presented by John Quinn, Founder & CEO
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: $110 per day, per affected individual.
- Get compliant or face penalties via IRS Form 8928.
- Fiduciary Liability (ERISA)
- Personal lawsuits: Fiduciaries can be held personally liable for plan mismanagement.
- Costly consequences: Poor oversight erodes plan value and leads to weaker benefits for employees.
What to Do Now
- Demand Full Transparency
- Require complete and timely data delivered 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.
- Act on mental health parity audit findings.
- Monitor in Real Time
- Spot risks early.
- Proactive management and remediation is a good defense.
Lead or Be Led
Inaction says, “I’m okay with the risk of a disgruntled employee teaming up with a lawyer to sue me and my firm.” Lawyers will prioritize employers without these plan oversight basics. Why not put yourself lower on the target list?
Have questions? Reach out to us at insights@wellnecity.com