As the new law rolls out, some plan sponsors are questioning whether the government’s capabilities to negotiate with Medicare on lower drug prices could prompt manufacturers to increase medication costs for employer plans.
A second judge ruled the DOL's 5-part test to determine what defines “fiduciary” should be struck down, which was a victory for the Federation of Americans for Consumer Choice, an advocacy group for insurance distributors.
While litigation is not widespread, it's important for plan sponsors to look at operations and shore up practices since there was action on 43 defined contribution cases during the first quarter of 2023, according to Mercer.
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