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Humana 'Excessive' Fee Case Allowed to Proceed Despite Low Recordkeeping Fees Negotiated in Competitive RFPs
Encore Fiduciary Link to more items from this source
[Opinion]
Apr. 7, 2022

"The Humana plan fiduciaries did everything possible to ensure that the recordkeeping costs for their large plan were reasonable. They did two requests-for-proposal, which is two more than most plans. But they nevertheless have to spend millions of dollars to defend their sound fiduciary process based on the second-guessing of a plaintiff law firm whose business is to sue benefit plans and claim fiduciary malpractice. Having lost the motion to dismiss, Humana will now face pressure to settle for millions of dollars because the damage model, however counterfeit, is huge." [Moore v. Humana, Inc., No. 21-0232 (W.D. Ky. Mar. 31, 2022)]

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