About
the playing field has changed, focus on healthcare and not health insurance.
The need for Pretekt was born on December 27, 2020 with the passage of the Consolidated Appropriations Act (CAA).
Most people remember this legislation for the COVID-19 Relief and Paycheck Protection Program (PPP). The overlooked portion of the bill was the No Surprises Act and that legislation has put the job of fixing healthcare in America on its Employers – ERISA would call them Plan Sponsors. Employers now have the tools necessary to be true fiduciaries of their healthcare plans subject to ERISA fiduciary standards.
The CAA legislation cements the same Fiduciary requirements for health plans that applied to the Retirement Plan Industry in the previous decade. Those requirements started as of December 27, 2021 – time to play catch up.
A new type of solution was needed. One that could bring the Fiduciary Expertise of the modern retirement plan advisor and apply it to the complicated world of Health Insurance.
Pretekt was born in the fall of 2021 as the solution.
WHAT IS A fiduciary?
noun: fəˈd(y)o͞oSH(ə)rē
A fiduciary is a person or organization that acts on behalf of another person or persons, putting their clients’ interests ahead of their own. Being a fiduciary requires being bound legally and ethically to act in the other’s best interests.
Employer services
fiduciary responsibilities cannot be outsourced – but the work can!
Pretekt Health is the only company that has developed a fiduciary process and system to help all Employers deal with the current uncertainty of the Consolidated Appropriations Act and provide a system and process to manage their Health Plan for years to come.
“According to Howard Schultz, CEO of the company in 2008, Starbucks spends $300 million annually on healthcare, which is more than what they spend on coffee beans.”
Source: Food News
ADVISOR services
The Group Health Insurance industry has changed dramatically over the last decade and it is going to change again. The Consolidated Appropriations Act will force your clients to be subject to compliance and transparency regulations. We want to help you manage this change.
