JPMorgan is just the latest company in recent years to be sued by employees over claims of mismanaging health and pharmaceutical benefits, and violating their fiduciary duties, Becker’s Payer Issues noted:

Health care logistics company Owens & Minor filed a lawsuit against Anthem Blue Cross and Blue Shield of Virginia, accusing the insurer of failing to uphold its fiduciary duties under ERISA through mismanagement of its employee health plan.
A Kraft Heinz Co. employee benefits group representing employees, retirees and their dependents sued Aetna for allegedly breaching its fiduciary duties and using its role as third-party claims administrator “to enrich itself to Kraft Heinz’s detriment.”
A Johnson & Johnson employee sued the pharmaceutical giant for allegedly mismanaging workers’ prescription drug benefits and violating its fiduciary duties under ERISA, although a federal judge partially dismissed the lawsuit in January.

The JP Morgan lawsuit is the first time that human resource executives and board directors have been named as defendants, according to Steve Ditto, a senior health executive, compliance advisor and patient advocate.
“Fiduciary responsibility for health plans isn’t optional,” he said in a LinkedIn post. “The risks are real, but so are the rewards. JP Morgan could have saved $60 million by fulfilling their fiduciary duties.”

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JPMorgan sued by employees over alleged inflated drug prices

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