CVS Caremark agrees to $32M settlement involving Oklahoma employee health plan

OKLAHOMA CITY — CVS Caremark will pay a $32.1 million settlement for allegedly keeping money that “belonged” to the state employee health plan, HealthChoice , the Attorney General ‘s Office said Tuesday.

CVS Caremark agreed to the settlement to avoid litigation but has denied any wrongdoing, the Attorney General’s Office said. CVS Caremark is a pharmacy benefit manager that works to negotiate prices between insurance companies, drug manufacturers and pharmacies.

“When drug companies give discounts and rebates for medications, CVS Caremark was supposed to pass that money on to HealthChoice,” according to a news release from Attorney General Gentner Drummond ‘s office. “Instead, the state contends that CVS kept millions of dollars that should have gone to help lower healthcar