The Supreme Court issued a ruling today, Montanile v. Board of Trustees of the National Elevator Industry Health Benefit Plan, holding that equitable relief was not available to the Plan after Montanile received a third party settlement and depleted the funds on non-traceable items. SCOTUS approved theft?
This case is an important reminder that plan language, active plan involvement, and timeliness are essential to the Plan’s right to third party recovery and to preserving Plan assets? Will this force Plan’s to Subrogate?
Read the full opinion here, and reach out to CMC Consulting, LLC if you have questions!