A group of insurers has filed suit against CVS Health, alleging that the company overcharged them for generic drugs while obfuscating the medications' true prices.
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Seven health insurers with businesses that span the nation have sued CVS Health Corp., alleging the Woonsocket, R.I.-based retail giant schemed with pharmacy benefit managers to overcharge health plans for generic drugs.
These insurers federal class-action complaint, filed in Rhode Island district court, represents just one lawsuit accusing CVS of fraudulently hiding the real cost of medications, leaving insured customers paying more for drugs than those without insurance.
In the Rhode Island case, insurers including Carefirst of Maryland, Group Hospitalization and Medical Services, CareFirst BlueChoice, Blue Cross and Blue Shield of South Carolina, BlueChoice HealthPlan of South Carolina, Group Hospitalization and Medical Services, Blue Cross and Blue Shield of Louisiana and HMO Louisiana seek to recoup what they claim they overpaid for many millions of transactions over more than a decade.
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