Daniel Aronowitz, President of Ullico Casualty Group Inc., and Douglas R. Dvorak, Vice President of Claims, authored an article on recent health care reforms’ impact on fiduciary liability exposure, which The International Foundation of Employee Benefit Plans published in the October 2010 issue of its magazine, Benefits & Compensation Digest. 

The article provides fiduciaries an overview of the Patient Protection and Affordable Care Act, the penalties associated with the act for noncompliance and how trustees may protect themselves from personal liability.  Below, you will find the introduction of the article.  Click here to read the full story.

Health Care Reform Increases Risks of Fiduciary Liability

The recent enactment of landmark health care reform has caused a flurry of activity by plan fiduciaries and plan consultants, as they struggle to identify what plan changes are required by the Patient Protection and Affordable Care Act ("PPACA") and when such changes take effect.

But amid all the activity and confusion surrounding PPACA's requirements, one issue has gone largely unnoticed:  PPACA exposes plan trustees to significant new penalties and risks of fiduciary liability.  Trustees face significant new fiduciary liability exposures for failure to comply with PPACA’s “insurance market reforms.”  Accordingly, trustees must act quickly to ensure that their health plans are compliant with PPACA's many new requirements.  [More]

Excerpt from Benefits & Compensation Digest, Vol. 47, No. 10 (October 2010).