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NFP Prevails in Fiduciary Suit Brought by Schlichter

"Litigation that involved a multiple employer plan (MEP), merging plans, a 3(38) investment advisor, a plan sponsor -- and at one point an advisor (NFP) -- has been resolved in favor of the fiduciary defendants, while reminding us of the value and importance of a prudent process in target-date fund selection." [Lauderdale v. NFP Corp., No. 21-0301 (N.D. Calif. Feb. 23, 2024)]

NFP Named as Defendant in Parallel Molina Healthcare ERISA Suit

"The original lawsuit targeting Molina Healthcare directly says the defendants caused plan participants to invest in flexPATH's 'untested target-date funds,' which allegedly replaced 'established and well-performing target-date funds' previously offered to participants.... The new lawsuit almost completely mirrors the original compliant, though it is distinct in that it argues that NFP is also a fiduciary to the retirement plan in question, based on the nature of the advice it allegedly provided to the plan sponsor, and it should therefore face the court's scrutiny alongside the Molina defendants." [Mills v. NFP Retirement Inc., No. 22-994 (C.D. Cal complaint filed May 16, 2022)]

Menopause Is Having a Policy Moment

"California's AB 432 ... the Menopause Care Equity Act ... would require health plans covering outpatient prescription drugs to provide coverage for evaluation and treatment of perimenopause and menopause symptoms starting January 1, 2026.... [In] June 2025, Rhode Island became the first state to pass a law explicitly requiring workplace accommodations for menopause and related conditions."

Pharmacy Deserts: Impact and Action Steps

"Consultants can help clients respond through several strategies: ... [1] Encourage employers to work with pharmacy benefit managers (PBMs) that offer reliable delivery services and virtual consultations.... [2] Make sure your clients' benefit designs include virtual pharmacist consultations to bridge access gaps. [3] Advocate for biosimilars ... [4] Incorporate pharmacy-based services like immunizations and screenings into employer wellness offerings ... [5] Use data to identify risk areas."

ERISA Fiduciary Governance: Transparency Obligations (PDF)

37 presentation slides. Topics include: [1] ERISA fiduciary governance basics; [2] Group health plan transparency obligations; [3] CAA 2021 transparency requirements: Gag clause prohibition, MHPAEA NQTL comparative analysis, RxDC reporting, and Section 408(b)(2) disclosures; [4] Fiduciary breach litigation; [5] TiC rule requirements; [6] Cost containment strategies and tools for plan fiduciaries; [7] Key takeaways.

PBM Reform: A System Under Pressure

"Evaluating programs that work in tandem with the pharmacy benefit may provide additional savings both for members and plans.... However, these initiatives alone cannot address the systemic issues at play. Employers must conduct thorough reviews of PBM contracts to ensure they are securing the best pricing for their employees.... [G]reater industry transparency, employer due diligence and continued regulatory oversight will be essential in driving meaningful reform."

ERISA Fiduciary Obligations and Governance for Health Plans (PDF)

43 presentation slides. Topics:  [1] Transparency laws; [2]  Fiduciary breach litigation; [3] Increased regulatory attention; [4] Employer action steps.

Why Menopause Benefits Should Matter to You

"Mayo Clinic research reveals that menopause-related symptoms cost an estimated $1.8 billion in lost work time annually in the US, with total costs reaching $26.6 billion when medical expenses are included.... Despite affecting approximately 17.5% of the US workforce, menopause in the workplace remains one of the most overlooked aspects of workplace health policy."

Trump Signs Orders Potentially Affecting Health Plan Compliance

"[T]he executive orders do provide a general road map on where the Trump administration may go with its health policy, including potential impacts on employer group health plans. Generally, the orders include directives aimed at chipping away and rescinding prior Biden administration policies, including ones that promoted expanding coverage under the ACA and Medicaid, lowering drug costs, and discrimination protections on the basis of gender identity and for LGBTQ+ individuals (including gender transition coverage under health insurance policies and plans)."

District Court Dismisses ERISA Fiduciary Breach Claims Against J&J

"Following a wave of ERISA fiduciary breach class action lawsuits, the district court's ruling is welcome news for group health plan sponsors ... The decision ... reinforces that participants must demonstrate a personal and concrete injury due to a fiduciary's alleged breach that is redressable by court action; broad speculative claims will not suffice. However, the district court left open the question of whether a participant who did not reach their plan's OOP maximum could potentially establish an injury-in-fact based on excessive prescription drug costs." [Lewandowski v. Johnson & Johnson, No. 24-0671 (D.N.J. Jan. 24, 2025)]