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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.

Although it was expected to go live in late January, HHS Secretary Robert F. Kennedy Jr. announced at a cabinet meeting last week that it instead "is going to be happening sometime, probably in the next 10 days."

West Virginia began to license PBMs in 2020. In 2022, the state began to require insurers to pass all prescription drug rebates and other prescription drug discounts on to health insurance purchasers in 2022.