Managers

Urgent Call for Reform: How Pharmacy Benefit Managers Contribute to Prescription Unaffordability and What States Are Doing About It

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In the United States, the escalating cost of prescription drugs is forcing many to sacrifice essential medications, despite systems in place meant to safeguard affordable access. A crucial player in this scenario is the pharmacy benefit manager (PBM), whose role in the healthcare system is pivotal yet fraught with critical issues that need immediate address. PBMs, operating primarily as intermediaries between drug manufacturers and healthcare plans, dictate the availability and price of medications through formularies they control. They negotiate deals with drugmakers and manage pharmacy benefits for various employers and government-initiated health plans like Medicare … Read more

Pharmacy Benefit Managers and Drug Companies Face Lawsuit for Inflating Insulin Prices, Targeting Vulnerable Patients in Indiana

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Indianapolis, Indiana – The Attorney General of Indiana, Todd Rokita, has filed a lawsuit alleging that pharmacy benefit managers (PBMs) and drug companies have colluded to maintain high insulin prices. Rokita claims that these companies are exploiting vulnerable individuals in need of this vital medication. The lawsuit does not specifically name the drug company Eli Lilly, even though it settled a class-action lawsuit last year over allegations of insulin price fixing for over $13 million. Among the companies named in the lawsuit are Caremark PCS and CVS Healthcorp, both associated with CVS, one of the … Read more

Navigating the Complex Maze of Online Data Privacy Regulations: An Added Challenge for Risk Managers

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New York, NY — Online data privacy regulations are becoming increasingly complex for risk managers as states and countries introduce new measures. Anthony Dagostino, the New York-based global cyber chief underwriting officer for Axa SA, stated that staying up-to-date with regulatory issues is crucial for both underwriters and policyholders. Differing incident notification laws across US states present an additional challenge. Currently, 13 states have comprehensive privacy laws, while several others are in the process of developing legislation. The variability between state regulations makes it challenging for risk managers to respond to breaches effectively. Kristen Peed, … Read more

Former FedEx Sales Manager’s Discrimination Verdict Stripped of Justice, Signaling Supreme Court’s Bias

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Houston, Texas – In a landmark discrimination case against FedEx, Jennifer Harris, a former sales manager, found her victory significantly reduced on appeal. Harris, who is Black, had emerged triumphant in 2022 with a $366 million verdict, holding FedEx accountable for retaliating against her after she filed a complaint of racial discrimination against her white manager. However, the Fifth Circuit Court of Appeals recently overturned much of that ruling, slashing the damages amount to a mere $248,619. The ruling stated that FedEx had made “good-faith efforts” to comply with federal law, thereby undermining Harris’s claims. … Read more