A legal view of fiduciary responsibility
In the article, “The Fiduciary Responsibilities of Subrogation: A Legal View“, Win Rawson explains that as financial pressures on health plans push sponsors, benefits advisors, and TPAs to focus on cost containment, understanding fiduciary responsibilities related to subrogation is more important than ever. Subrogation is attracting attention due to pending legal actions, and fiduciaries are taking a broader view of their responsibilities because they can be held accountable even after the claims are paid.
If subrogation comes under your responsibilities, it is important to ensure the organization meets its fiduciary duties.
Win Rawson, Chief Legal Officer
Rawson notes that while a rise in ERISA lawsuits should not cause panic, being prepared is the key to avoiding unnecessary risk.