Civil Plaintiff
Oklahoma Settles With CVS Caremark For $4.8 Million
The Oklahoma Insurance Department (OID) has reached a $4.8 million settlement with CVS Caremark over its collection of Medicare Part D and Employee Retirement Income Security Act (ERISA) plan claims, according to a news release.
Oklahoma pharmacies will receive $2.3 million of the claim, and the remainder of the $2.5 million is assessed as penalties.
CVS Caremark is a pharmacy benefits manager (PBM). State lawmakers passed the Patient’s Right to Pharmacy Choice Act (PRPCA) in 2019. It regulates PBMs, which act as a middleman between patients and insurers. In some cases, PBMs may influence the costs of prescription drugs and what drugs are covered, according to the OID.
