{
Marianne Schmitt

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jpmorgan faces lawsuit over alleged mismanagement of health plan drug costs

JPMorgan Chase & Co. faces a lawsuit from current and former employees alleging breaches of fiduciary duties related to prescription drug costs under its health plan. The plaintiffs claim the company overpaid for generic drugs, resulting in inflated costs for participants, and seek damages, class action status, and the appointment of an independent fiduciary. The suit highlights significant price disparities for medications compared to retail prices, raising concerns about the management of pharmacy benefits.
planadviser.com
United States Dollar JPMorgan Chase & Co. USA Marianne Schmitt Stephen B. Burke Seth Sternberg Todd Combs Virginia Rometty Show more
Regulatory & Legal, News Article
13:10 17.03.2025

jpmorgan chase faces lawsuit over alleged mismanagement of prescription drug benefits

Retirees and former participants in JPMorgan Chase's health insurance plan have filed a lawsuit against the company and its executives, alleging breaches of fiduciary duties related to mismanagement of prescription drug benefits. The plaintiffs claim inflated drug prices have cost participants millions, citing a specific example where a drug was priced over 200 times higher than retail. They seek damages, class action status, and the appointment of an independent fiduciary to oversee the plan.
plansponsor.com
United States Dollar JPMorgan Chase & Co. USA Marianne Schmitt Stephen B. Burke Seth Sternberg Todd Combs Virginia Rometty Show more
Regulatory & Legal, Press Release
10:04 17.03.2025
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