Breaking: J&J ERISA Employee
Benefit Lawsuit. Am I at Risk?
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The Inevitable Happened
On February 5, a Johnson & Johnson employee filed a class action lawsuit accusing their employer of breach of fiduciary duty for overpaying for prescription drugs through their health plan. The allegations of mismanagement are astounding: an 801% markup for an HIV drug, a 6,392% markup for a prostate cancer drug, a 9,592% markup for a leukemia drug, a 12,403% markup for an MS drug (these are not typos), and many others. They did the norm of hiring one of the Big 3 benefit consultants and one of the Big 3 PBMs, so how could things have gone so awry?
About this Webinar
VIVIO is referenced on page 63 of the lawsuit as a PBM alternative with a proven record of significantly lowering drug costs that J&J should have considered. Frier Levitt is a life sciences firm with a “plan sponsor” division helping self-funded plans understand their Pharmacy benefit plan design. The firm audits and litigates against PBMs for “retained rebates” and other breaches. Together, leadership from VIVIO and Frier Levitt will answer the following questions:
On February 5, a Johnson & Johnson employee filed a class action lawsuit accusing their employer of breach of fiduciary duty for overpaying for prescription drugs through their health plan. The allegations of mismanagement are astounding: an 801% markup for an HIV drug, a 6,392% markup for a prostate cancer drug, a 9,592% markup for a leukemia drug, a 12,403% markup for an MS drug (these are not typos), and many others. They did the norm of hiring one of the Big 3 benefit consultants and one of the Big 3 PBMs, so how could things have gone so awry?
About this Webinar
VIVIO is referenced on page 63 of the lawsuit as a PBM alternative with a proven record of significantly lowering drug costs that J&J should have considered. Frier Levitt is a life sciences firm with a “plan sponsor” division helping self-funded plans understand their Pharmacy benefit plan design. The firm audits and litigates against PBMs for “retained rebates” and other breaches. Together, leadership from VIVIO and Frier Levitt will answer the following questions:
- Is this lawsuit a big deal?
- Am I at personal risk?
- Could my company be sued?
- What should I do?
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