If you’re a business owner, CEO, or executive overseeing a company with 100 employees or more, there is a notable risk to consider regarding your responsibilities —and it can be personal.

Recent enforcement of the ERISA fiduciary rule, reinforced by the Consolidated Appropriations Act, ha changed how employer-sponsored health plans are evaluated under the law.

ERISA no longer applies only to retirement plans.

It now applies to healthcare and benefits—and that means you, may be considered a fiduciary.

As a fiduciary, you are legally required to act solely in the best interest of your employees. That includes includes a focus on ensuring our health plan fees are reasonable, your vendors are properly monitored, and costs—especially prescription drug costs—are not inflated by hidden incentives or undisclosed arrangements.

Here’s the part that should stop every executive in their tracks:

It is important to note that ERISA fiduciary breaches can carry personal liability.

It is important to note that ERISA

That means if your company’s health plan overpays due to poor oversight—even unintentionally—your personal assets may be exposed. ERISA provisions may reach beyond certain corporate protections, or indemnification agreements.

Organizations have faced ERISA class-action lawsuits over healthcare and pharmacy costs.

A common factor is reliance on brokers and PBMs… without independent oversight.

Pharmacy Benefit Managers—PBMs—often generate profits through opaque pricing, spread pricing, and undisclosed rebates. Without an audit, employers have no way of knowing whether employees are overpaying for prescriptions, insulin, or specialty drugs—or whether those excess costs are being quietly passed through the plan.

And under ERISA, “we didn’t know” is not a defense.

Organizations have faced ERISA class-action lawsuits over healthcare and pharmacy costs.

We aim to help business owners and executives manage risk and maintain control through:

  • PBM audits designed to uncover hidden rebates, pricing manipulation, and conflicts of interest
  • Health insurance and benefits audits intended to validate es, compliance, and vendor accountability
  • Independent fiduciary reviews that seek to demonstrate prudence and oversight.

In many cases, these audits identify overcharges and help create a defensible process that protects leadership from personal exposure.

This is not about changing plans overnight.It’s about taking the steps to protect yourself, your employees, and your family by documenting that you acted prudently and in good faith.

If you’re an executive, board member, or owner of a business with 100 or more employees, this is a critical area of responsibility that should be addressed,

Taking steps to help protect the business you built.The people you lead. And protect yourself.

ERISA fiduciary risk is an important factor to not to delay or ignore—because certain provisions of the law involve personal liability.

If you’re a business owner, executive, or board member responsible for a health plan with 100 or more employees, tt is appropriate to review your strategy to confirm that you’re aiming for compliance and defensible.

Schedule a no-obligation 5-minute fiduciary strategy session to evaluate your current plan and identify potential risks.

Work toward a strategy designed to help protect your company, your employees, and your persona assets,

Investment advisory and financial planning services are offered through Simplicity Wealth, LLC, an SEC-registered investment adviser. SEC registration does not constitute an endorsement of the firm nor does it indicate that the adviser has attained a particular level of skill or ability. Investing involves the risk of loss. Insurance, Consulting and Education services offered through Heart Financial Group. Heart Financial Group is a separate and unaffiliated entity from Simplicity Wealth. This material is for educational purposes only. Prudent fiduciary oversight requires a comprehensive review of plan documents and service provider agreements. We recommend you consult with legal counsel regarding your specific fiduciary obligations under ERISA. This information is provided as general information and is not intended to be specific financial guidance. Before you make any decisions regarding your personal financial situation, you should consult a financial or tax professional to discuss your individual circumstances and objectives.