Frier Levitt partners Jonathan Levitt and Dae Lee published an article, “Pharmacy Benefit Design: Johnson & Johnson Lawsuit Ushers In New ‘Duty Of Prudence’ Standard” in BenefitsPRO. The article delves into the groundbreaking Johnson and Johnson (JNJ) employee class action lawsuit and its implications on pharmacy benefit management. Regardless of the case’s outcome, the standard of care to which management is held on benefit design is set to change drastically moving forward.
The JNJ class action is a critical reminder of the importance of fiduciary duties in employee benefits plans. By taking decisive steps to audit PBMs, vet brokers, and ensure compliance with fiduciary obligations, plan sponsors can protect themselves from liability and safeguard the interests of their plan participants.
Read the full article HERE.
Or visit BenefitsPRO’s website: https://www.benefitspro.com/2024/03/12/pharmacy-benefit-design-johnson-johnson-lawsuit-ushers-in-new-duty-of-prudence-standard/
