Premium Credits Related to COVID-19 – ERISA Fiduciary Rules

Because many employees have not been using their insurance benefits due to the COVID-19 pandemic, some group medical, dental and vision carriers are providing premium credits to employers. Before using the premium credits, employers should consider their fiduciary duty responsibilities under ERISA.

This Compliance Bulletin summarizes how ERISA’s fiduciary rules apply to COVID-19-related premium credits.