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The settlement is expected to drive down patients' out-of-pocket costs for drugs such as insulin by up to $7 billion over 10 years.

Calculation errors and bad advice caused the teachers to make millions of dollars in extra pension contributions, a suit alleged.

Executives said that demand is still strong because overall market capacity has shrunk.

One part requires PBMs to send employer health plans detailed prescription benefits tracking information and for the plan fiduciaries to use the data to keep tabs on the benefits and on PBM compensation.

According to the settlement administrators, most eligible class members who submit a qualifying claim can receive approximately $11,000.

EBSA said the $1.4 billion returned to plans, participants and beneficiaries represents a slight increase from the $1.384 billion recovered in fiscal year 2024.