Welcome to canary
Health Plan Fiduciary, Simplified
Let us be your "canary in the coal mine" and keep your business ahead of the compliance curve.
Our Mission
At Canary, our goal is to demystify the complexities of employee benefit plans and provide a documented, repeatable process for your fiduciary responsibility. Our purpose is to act as the "canary in the coal mine" to keep employers compliant and employees healthy.
About Canary
Executives wield the power to solve the healthcare crisis within your organization. The fiduciary obligation to act in the best interest of your employee's health and financial wellbeing is now under a microscope. This is where we can help with measurable and documented best practices. We offer SaaS, fiduciary documentation, and guidelines to keep your business in compliance with ERISA and the CAA.
About ERISA
The Employee Retirement Income Security Act of 1974 is a federal law setting minimum standards for retirement and health plans. It is a very broad and complex law that governs every American employee's benefits at their workplace, ensuring fiduciaries do not misuse plan assets.
About the CAA
The Consolidated Appropriations Act of 2021 made several amendments to ERISA, including fee disclosures, gag clauses, broker compensation, prescription drug and health care spending data collection and more.
These amendments, along with the Transparency in Coverage Rule, are considered some of the most comprehensive health plan legislation and reforms since the Affordable Care Act. They have lead to new class action lawsuits against health plan fiduciaries, and employers could face litigation if their employees claim they have failed to fulfill their fiduciary responsibility.