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- Do you have a TPA or network that won’t allow you to appropriately manage your Plan? Make a change to your vendors!
- Networks routinely “negotiate” provider contracts in their own best interest, not yours. Don’t fall for the myth of the great discount.
- Mind the gap! Ensure your Plan document language adequately supports your goals and strategies.
- Don’t be scared to exercise your rights as a Plan Fiduciary under ERISA due to vendor threats.
- Read all of your contracts thoroughly to guard against anti-competitive and anti-fiduciary language.
- Remember: it is your responsibility to only pay reasonable charges and to appropriately manage your Plan.
- Ceding control of your Plan assets to a vendor or third party does not protect you from a legal standpoint.