Anthem plan participants alleged that plan fiduciaries did not perform due diligence on funds being used in the plan Parties reached a settlement that includes more than $23 million awarded to participants in addition to certain plan enhancements including: requirement to provide a participant communication on money market funds; Filed in the U.S. District Court for the Southern District of Indiana … The lawyers who negotiated a $23.65 million class settlement with an Anthem Inc. subsidiary asked a federal judge to award them nearly $8.4 million in attorneys’ fees and expenses. Class Action Lawsuit Claim Form; Claim Form Deadline: August 26, 2019 Who’s Eligible: Class Members include those who participated in or were a beneficiary of an Anthem 401(k), previously the WellPoint 401(k), retirement plan between Dec. 29, 2009 and March 31, 2019.Class Members must have maintained a balance of greater than $1,000 during the Class period or invested … Class Members include those who participated in or are a beneficiary of an Anthem 401(k) plan, previously known as the WellPoint 401(k) Retirement Savings Plan, between Dec. 29, 2009 and March … A February 19 docket entry in the case of Bell v. Anthem says, “The parties have reached a resolution subject to class approval.”

This included lower-cost shares of the Vanguard funds that already dominated the … This article … You may be eligible if you were a Current or Former Participant in the Anthem 401(k) plan (formerly the WellPoint 401(k) Retirement Savings Plan), including if you were an Alternate Payee with a Qualified Domestic Relations Order or a beneficiary of deceased persons who was a participant as of the end of a calendar quarter during the class period, who (1) had an account balance of more than $1,000 or (2) … An earth-shattering 23 million dollar settlement has been proposed to end claims that Anthem charged excessive fees to 401k plan participants.


The original lawsuit, filed in late 2015 in the Southern District of Indiana by the St. Louis-based law firm of Schlichter, Bogard & Denton, alleged that fiduciaries of the $5.1 billion Anthem, Inc. 401(k) plan failed to leverage the plan’s size and economic clout to take advantage of lower-fee investment options.

The Settlement received quite a bit of attention from both the industry and mainstream press for a number of reasons, not the least of which include the size of the 401(k) plan ($5.1 billion), the size of the monetary settlement ($23,650,000), as well as inclusion of somewhat unusual non-monetary terms. The settlement requires the Anthem defendants to give employees more information about the risks tied to certain 401(k) investments and to hire an outside consultant to advise on the plan’s investment lineup. On April 9, 2019, the U.S. District Court for the Southern District of Indiana granted preliminary approval of a $23.65 settlement in a case handled by Schlichter Bogard & Denton regarding the Anthem 401(k) plan. Anthem 401(k) CLA. This is frequently referred to as the “Anthem Settlement” (the “Settlement”).

NATURE OF THE SETTLEMENT A Class Action Settlement has been proposed in litigation against Anthem, Inc. (“Anthem”) and other health benefit companies (together, called “Defendants” in this notice), relating to the data breach that Anthem announced in February 2015 (“the Data Breach”). Recently the Bell vs. ATH Holding Company, LLC (a subsidiary of Anthem, Inc.) lawsuit settled. The fees are justified by the “exceptional relief” obtained for the Anthem 401 (k) plan participants and beneficiaries, class counsel said in a July 5 motion. To file a claim please visit www.anthem401ksettlement.com. $23.65 Million Anthem 401 (k) Settlement Receives Preliminary Approval On April 9, 2019, the U.S. District Court for the Southern District of Indiana granted preliminary approval of a $23.65 settlement in a case handled by Schlichter Bogard & Denton regarding the Anthem 401 (k) plan. The Settlement received quite a bit of attention from both the industry and mainstream press for a number of reasons, not the least of which include the size of the 401(k) plan ($5.1 billion), the size of the monetary settlement ($23,650,000), as well as inclusion of somewhat unusual non-monetary terms. A lawsuit filed last month against Anthem Inc. is taking the health insurer's 401(k) plan to task for selecting Vanguard Group mutual funds that had lower-cost versions of the same investments available to it.


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