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Lydia Parker

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Lydia is a partner in the Employee Benefits + Executive Compensation Practice Group. She assists clients with the design and implementation of employee benefits plans, and regularly advises clients on the wide variety of compliance issues that arise in the administration of those plans. Lydia has broad experience with both tax-qualified retirement plans, such as 401(k), 403(b) and defined benefit plans, and nonqualified plans. She has worked extensively with clients on compliance issues related to both self-insured and fully-insured health and welfare benefits plans, including group health plans, severance plans, life insurance plans, and disability plans. Her experience with health and welfare benefits plans includes advising on ACA, COBRA, HIPAA, ERISA, and Internal Revenue Code compliance. Lydia also assists clients with the benefits and compensation aspects of mergers and acquisitions, the negotiation of administrative services agreements and other vendor contracts, governance and fiduciary issues, and the administration of claims and appeals.

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In this episode of Troutman Pepper Locke’s Employee Benefits and Executive Compensation podcast, hosts Lydia Parker and Lynne Wakefield explore the complex legal landscape surrounding the coverage of GLP-1s prescribed for weight loss purposes within self-insured medical plans. As these medications gain popularity, plan sponsors face the challenge of controlling costs while meeting participant demand and maintaining legal compliance. The discussion covers various design alternatives, including cost-sharing strategies, waiting periods, and wellness program rewards, while addressing potential legal risks under HIPAA, the Affordable Care Act, and the Americans with Disabilities Act. Tune in to explore how plan sponsors can navigate these issues effectively as a means to attract and retain employees, while mitigating financial exposure.

In this installment of our Employee Benefits and Executive Compensation Considerations in Mergers and Acquisitions podcast series, Troutman Pepper Partners Jim Earle, Lynne Wakefield, and Lydia Parker discuss the impact of the Supreme Court’s decision in Loper Bright Enterprises v. Raimondo on benefits-related regulations, including the Department of Labor’s Fiduciary Rule; environmental, social, and governance regulations; protections based on sexual orientation and gender identity under the Affordable Care Act; and much more.