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UnitedHealth Group is facing a class-action lawsuit alleging it improperly used employees' forfeited 401(k) funds to reduce its own costs, violating fiduciary duties under ERISA. The company denies the claims amid multiple legal challenges related to its business practices.
A class action lawsuit against American Airlines for allegedly mismanaging 401(k) funds by prioritizing ESG goals over financial returns can proceed. The suit claims that the airline violated its fiduciary duties under ERISA by investing in funds that pursue political agendas, potentially lowering the value of employees' retirement savings. The case highlights the tension between ESG investing and fiduciary obligations.
The U.S. Department of Labor has filed a lawsuit against UnitedHealth Group's subsidiary, UMR Inc., alleging that the company unlawfully denied emergency room care and urine drug screen claims for thousands of individuals. UMR, Inc., which manages benefits for over 2,100 employee health plans, is accused of using a process that did not meet federal standards for self-insured plans. This lawsuit highlights the scrutiny of insurers' standards and methods in approving or denying claims.