PPS brings transparency to PBMs. Today's blog features the Employee Benefit Advisor article that's putting a spotlight on the non-transparency issues that insurance companies are facing. Just last summer more than 100 of Cigna's self-insured health plan clients were sued with the complaint alleging breach of the defendants’ fiduciary duties under ERISA for engaging in widespread fraudulent behavior involving the use of plan funds.
Davenport writes, "The wake-up call has to do with fiduciary duties arising under ERISA. These duties include acting solely in the interests of the participants and beneficiaries and avoiding conflicts of interest; administering the plan in accordance with plan terms (subject to ERISA); acting for the exclusive purpose of providing plan benefits or for defraying reasonable plan administration expenses; and acting prudently."
Check out the article in its entirety HERE!
Performance Pharmacy Solutions (PPS) is a unique pharmacy benefit procurement platform developed by HORIZON Health Ventures to efficiently and effectively place, manage and oversee our self-funded client's pharmacy benefit management programs. The PPS platform provides turnkey solutions with proven market-leading PBM partners that offer, on average, 10-15% savings.
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