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Appeals Court Rules Insurer and PBM Are Not Fiduciaries When Setting Drug Prices
Law|Street Dec. 9, 2020 "The Second Circuit ... dismissed an appeal by the plaintiffs in a consolidated class action suit against Anthem Inc. and Express Scripts Inc. that alleged the defendants violated their fiduciary responsibilities under [ERISA], instead ruling that health companies are not acting as ERISA fiduciaries when setting prescription prices. The plaintiffs originally alleged that an agreement between the two defendants resulted in higher drug prices, the costs of which they say were passed on to beneficiaries of the company's ERISA benefits plan." [Doe v. Express Scripts, No. 18-346 (2d Cir. Dec. 7, 2020)] |
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