Pretekt Information

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.