BIP Winter 2025

Professional Development

Building a fiduciary future for healthcare A new certification helps NABIP members guide employers through the industry’s next compliance frontier.

For the first time since ERISA’s passage more than 50 years ago, health plan sponsors are now legally required to uphold a fiduciary standard — a duty to act in the best interests of plan participants. The shift, driven by the Consolidated Appropriations Act (CAA), marks a turning point for employer accountability and a new opportunity for brokers and consultants to lead.

The new Healthcare Fiduciary Certificate Program, developed by the Center for Board Certified Fiduciaries (CBCF) and Innovu, with NABIP as an education partner, equips advisors to navigate this evolving landscape. Through 12 to 15 hours of training, available virtually or in person, participants learn how to help clients meet their legal obligations, manage vendors transparently and improve plan outcomes.

“Advisors have been running fiduciary standards on retirement plans for nearly two decades,” says Hugh O’Toole, CEO of Innovu. “But when it comes to healthcare, their clients now face the same requirements — and most have no idea what that means. This certification fills that gap.” The program uses the Engage, Explore, Envision, Execute and Examine framework, adapted from the

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22 bip magazine Winter 2025