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What Employers Need to Know: Fiduciary Risk in Voluntary Benefit Plans

10.06.2026 Duration:

In this Mobility via Podcast episode, explore fiduciary risks, ERISA safe harbor rules, and oversight best practices.

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Podcast overview

Voluntary benefits — supplemental coverage like accident, critical illness, and hospital indemnity insurance — have long been treated as low-risk, "set-and-forget" programs by employers. In this Mobility via Podcast episode, we unpack why that assumption no longer holds. We break down the ERISA safe harbor that can exempt voluntary plans from fiduciary duties, the four conditions employers must meet to preserve that exemption, and the recent wave of class-action lawsuits alleging excessive broker commissions and weak oversight. You'll walk away with practical steps to strengthen governance, from running regular RFPs and loss-ratio audits to demanding full transparency on broker compensation and documenting every vendor decision.

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