As previously announced by SMACNA, the SMWIA/SMART has been actively encouraging its local unions to consider whether merging local health care plans into larger regional plans will result in cost savings to the health care funds.
No Easy Answer. There are no easy answers to whether a merger is appropriate for your health fund. Plan mergers are extremely complex and you will need professional advice that is independent and reliable.
A Valuable SMACNA Resource for You. To help you understand where to begin and what steps to take, Peter Rosene, an experienced ERISA lawyer and SMACNA’s outside legal counsel, has prepared a PowerPoint presentation on plan mergers from an employer trustee perspective. This valuable resource provides some understanding of the process your health fund should go through as well as considerations that should be forefront in your analysis during what can be a long and difficult process.
Considering a Merger? Is your health plan considering a merger? Where are you in the process? Please let SMACNA and your fellow trustees know by commenting on this post. Thank you.