5 Ways to Be a Better Plan Sponsor (and Meet Your Fiduciary Duties)

The burden is yours. The data should be, too.

If you’re a plan sponsor asking yourself, “Am I fulfilling my fiduciary responsibilities?”, “How can I manage our self-funded health plan more effectively?”, or “What makes a good fiduciary under ERISA?”, you’re not alone. Healthcare is one of the largest line items on your P&L, but many employers are expected to manage their plans without full visibility into the data that drives spend, outcomes, and decisions. That’s not just inefficient—it's a risk.

Recent high-profile lawsuits, like those against Johnson & Johnson, JPMorgan, and BCBS, are putting a spotlight on employer fiduciary duty. And the takeaway is clear: if you're legally on the hook, you need to be in control. That starts with owning and understanding your data.

At Artemis, we help employers become better plan sponsors—not just by checking compliance boxes, but by equipping them to lead with transparency, act with integrity, and invest where it counts.

Here are five ways Artemis helps you take control and meet your fiduciary responsibilities:

1. You don’t just get access—you get command

Under ERISA, fiduciaries are required to act prudently and monitor their plans regularly. That’s nearly impossible if your data is fragmented or controlled by carriers.  

Artemis does the heavy lifting to give you full access to ALL of your data— we gather, aggregate, and store all of your traditional medical and Rx claims data and any other data (401k, digital health solution, employee survey data, etc.) in one secure place—and we give you the keys. You decide who sees what, and how it’s used.

Why it matters: You can't monitor what you can't see. Data ownership and access are the foundation of good governance.

2. You can identify waste and overspending—and do something about it

Duplicate claims. Runaway Rx costs. Unjustified fees. We help you uncover where dollars are being lost so you can take swift, strategic action—whether that means auditing a vendor, correcting errors, or cutting waste.

Why it matters: The duty to protect plan assets includes identifying and addressing inefficiencies. Artemis helps you spot red flags early.

3. You can focus on what matters most

Whether it’s high-cost claimants, ER overuse, or gaps in chronic care, Artemis shows you where to invest for the greatest impact and improve care for your people.

Why it matters: Being an effective plan sponsor isn't just about mitigating risk—it's about seeking opportunities to improve outcomes.

4. You can hold vendors accountable

You don't have to rely on glossy reports that come quarterly. Artemis gives you independent, real-time data that helps you measure what’s truly working—and make changes when it’s not. And best of all, the data stays with you. So even if your vendors change, your insights don't vanish.

Why it matters: Transparency and objectivity are key to making decisions in good faith.‍

5. You can turn analysis into action

Data alone doesn’t drive decisions, but data in context does. Artemis combines your data with population health insights, trends in spend for populations just like yours, and industry benchmarks to help you make defensible, informed choices.

Why it matters: You’re expected to act prudently. Artemis helps ensure every move you make is strategic and justifiable.

More than compliance, it’s about confidence

Being a good fiduciary isn’t about checking boxes. It’s about being able to look your employees in the eye and confidently demonstrate that you are doing everything you can to act in their best interests, for their health and their money. That starts with taking control of your data. Artemis helps employers lead with clarity, act with purpose, and meet their fiduciary duties—not just on paper, but in practice.

Curious how Artemis can help you take ownership of your plan and your outcomes? Let’s talk: artemis@nomihealth.com

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