Forbes April 7, 2024
Employer-sponsored health insurance covers more than half of the U.S. population. Employers with at least 50 full-time workers are required by the Affordable Care Act to provide workers with health insurance. Are employers doing a good job?
Two recent class action lawsuits filed by workers made many employers nervous. In February, Johnson & Johnson was sued for overpaying for prescription drugs and mismanaging health benefits. In April, Mayo Clinic and its plan administrator were sued for underpaying claims and lacking transparency.
Both cases cited the breaching of fiduciary duties under the Employee Retirement Income Security Act of 1974 (ERISA), which requires employers to administer their plans “solely in the interest of participants and beneficiaries and for the exclusive purpose of...
Today's Sponsors
Today's Sponsor