Anthem wasn’t acting as an ERISA fiduciary when it entered into a 10-year contract with Express Scripts for pharmacy benefit management (PBM) services, the Second Circuit said in an unpublished opinion. The decision to sell a corporate asset isn’t a fiduciary action, even if it “may ultimately affect how much plan participants pay for drug prices,” the court said. ...
Dec. 7, 2020, 6:41 PM
Anthem, Express Scripts Beat ERISA Appeal Over Drug Pricing