Survey Reveals Gaps in Employer Health Plan Oversight and Fiduciary Preparedness
A new survey by The Phia Group highlights a growing disconnect between employer concerns about health plans and the areas brokers believe require more attention. While employers focus on rising costs, pharmacy spending, and plan design, brokers express significant worries around fiduciary preparedness, visibility into performance metrics like No Surprises Act (NSA) compliance, Independent Dispute Resolution (IDR), subrogation, and vendor oversight. The survey of 124 health benefits brokers found that only a small percentage are confident in their clients' fiduciary processes or have access to critical data. Over three-quarters report an increase toward self-funded plans over the past year, while most expect double-digit premium increases for 2026 renewals. Brokers emphasize the need for better visibility and governance tools as health plan management becomes more complex. The findings suggest that employers may not be asking enough about fiduciary compliance or performance data from vendors—key areas brokers say are essential to understanding, overseeing, and defending decisions related to their health plans.
Topics: broker survey fiduciary responsibility health benefits Independent Dispute Resolution (IDR) No Surprises Act (NSA)