Insurer, PBM Argue Against High Court Review Of ERISA Fiduciary Ruling

Mealey's (November 8, 2021, 1:37 PM EST) -- WASHINGTON, D.C. — A health benefits provider and a pharmacy benefits manager (PBM) argue in respondent briefs filed Nov. 3 that the U.S. Supreme Court should not review a ruling that they were not acting as fiduciaries under the Employee Retirement Income Security Act when they set prescription drug prices; in an amicus brief filed the same day supporting the petitioners, an advocacy organization argues that “the holdings in the case foreshadow broad-ranging and damaging impacts for participants in employee benefit plans of all types, including retirement plans.”...