Credit: Cagkan Sayin/Adobe Stock
The ERISA Industry Committee, a group for employers with self-funded benefit plans, says Congress should make pharmacy benefit managers fiduciaries.
The employers that belong to ERIC typically act as fiduciaries for their self-insured plans, meaning that, under the terms of the Employee Retirement Income Security Act of 1974, they have a "duty to act in the best interest of plan participants" and a "duty to help control costs," according to an issue brief ERIC posted last week.
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Allison Bell
Allison Bell, a senior reporter at ThinkAdvisor and BenefitsPRO, previously was an associate editor at National Underwriter Life & Health. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached through X at @Think_Allison.
