Every Employer Will Be Sued...Personally

As predicted right here on this newsletter, the ERISA Fiduciary Firestorm has begun

The Birth of the Modern Frontier Psychiatrists newsletter featured an article about how a legal change would lead to a firestorm of litigation. I’m not a lawyer, but I do enough expert witness work—and have enough defamation to put up with—that I am familiar with the law. Thus, American employers have inched closer to fiscal Armageddon this week.

I don't mean their companies. I mean, employers—the humans—will be held personally liable for a very expensive issue. Yes, personal liability. With, and this is true, no meaningful protection from directors and officers insurance. This is true for almost every private employer in America.

This firestorm? Employee Health Benefits. This, by the way, isn’t an accident. It’s a plan by evangelicals in the self-funded employer space. It will destroy Big Health as we know it.

Enough beating around the bush, Dr. Muir! This week, a lawsuit was filed against Wells Fargo and the members of its pension committee. This follows similar lawsuits against…