Health and welfare benefit plans are increasingly becoming a key component of an employer’s overall compensation, retention and recruitment package. Designed to attract top candidates and retain key executives and employees, health and welfare benefit plans also make up a significant portion of a business’ overall human resources-related expenditures. This balancing act is made even more challenging as regulatory oversight and legislative requirements continue to expand under the Affordable Care Act and other federal and state legislation applicable to group health plans.
McDermott’s health and welfare benefits lawyers have deep knowledge and experience advising clients on the design and administration of health, welfare and other fringe benefit plans. We counsel employers, health plans, vendors, insurers and plan fiduciaries, assisting them with navigating the complex requirements of federal and state laws that impact benefits.
Our interdisciplinary team is skilled at helping clients identify and navigate trends in employee benefits and health care reform, develop strategies to overcome new or potential legal hurdles, manage the growing legal complexity associated with the design and administration of health, welfare and other fringe benefit plans, and address the issues that arise from major business transactions.
Clients turn to McDermott for our vast knowledge and capabilities to address the full range of issues, from conducting audits to the reviewing and guiding of plan design strategy, assisting with documentation and funding, negotiating vendor-service agreements, advising on fiduciary issues, and representing clients before government and regulatory agencies to negotiate favorable outcomes.
Our experienced ERISA lawyers help employers, plan administrators and other fiduciaries correct prohibited transactions and fiduciary breaches, ensure compliance with the numerous reporting obligations and notice requirements, review third-party administrator and other service-provider agreements, and draft summary plan descriptions and other participant communications.