• John DiMartino

Plan Sponsor Bill of Rights


As a young entrepreneur, and not surprisingly, I want to see some big changes take place in the health insurance industry. In the age of the internet we have made incredible advancements, but it seems that in the area of health care and health insurance, we're worse off now than ever before.

I'm not the only one that has made this observation. Around the country there are hundreds of consultants that feel the same way. United over a concern for the erosion of the middle class, benefits costs that are spiraling out of control, and the inability of the status quo to fix these issues, a community of thought leaders and innovators has emerged that focuses solely on fixing healthcare.

One of the first creations of this community, a plan sponsor bill of rights.

1. Service Agreement Fiduciary Duty Protection

You have the right to ensure that our obligations as your plan's sponsor, administrator, and fiduciary are protected and enhanced in your service agreement.

2. Transparent Relationships & Conflict Disclosure

You have the right to expect transparency, including disclosure of conflicts, in financial dealings between you and your chosen broker or consultant, carriers, and vendors.

3. Independence

You have the right to ensure those financial dealings do not compromise your fiduciary responsibility and the independence of the advice you receive.

4. Access to all Options

You have the right to receive information about the full range of options available to you, not just those which preserve or optimize your representative's income or plan administrator's revenue.

5. Independent Review

You have the right to an unbiased, independent review of all pertinent market options in an impartial manner, not just hose which preserve or optimize your representative's income or plan administrator's revenue.

6. Comprehensive Reporting

You have the right to receive comprehensive reporting of your costs, and the potential drivers of those costs.

7. Answers to Questions

You have the right to receive answers to your questions, with no cloaking of responses with HIPAA Privacy and other "confidentiality" curtains.

8. Effective Adjudication

You have the right to expect those you hire to adjudicate benefits to give their best effort to identifying inappropriate and grossly inflated charges before they issue payment.

9. Access to Data

You have the right to your data and should agree upon this requirement prior to execution of any vendor agreement.

10. Complete Reporting

You have the right to receive complete service and outcome reporting from each of your vendors, including all fees associated with services rendered.

Legal Disclaimer

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