What probably matters to youSection of the release
What
An organization can replace list-price cost math everywhere Claude Code reports spend: /cost, the status line, the SDK's total_cost_usd, --max-budget-usd and the OpenTelemetry cost metrics. It takes per-model overrides giving input, output, cache-read and cache-write USD per million tokens, plus a global multiplier in the range (0, 1]. It is honored only from managed settings, and a compile failure falls back to list pricing.
Details
Per its own description: "Only honored from managed settings (server-managed, MDM / OS policy, or managed-settings.json); ignored in user, project, local and --settings sources."
The pricing table is compiled once per session; duplicate model rows produce a warning.
Emits telemetry settings_model_pricing carrying rows and multiplier.
When the config came from an untrusted origin the telemetry records a reason of untrusted_origin or unverified_remote_cache; a compile failure records compile_threw and list pricing is used instead.
Neither the key nor its telemetry exists in v2.1.241. No remote flag is involved.
Evidence
Price usage at your organization's contracted rates instead of list price.
Strings lifted out of the shipped bundle, so the claim above can be checked against them.
The entry above is what we published on the day. These lines were added later, as Anthropic's own pages caught up, and they sit beside the original rather than replacing it.
Added sinceA small documentation edit on Manage costs effectively touched a line naming modelPricing after this was published.Set `multiplier` below 1 for a flat discount or above 1 for a markup, list each model's four per-token rates under `overrides`, or do both. A markup requires Claude Code v2.1.271 or later. The [`modelPricing` entry](/docs/en/settings-refer…costssee the edit
Confirmed sinceAnthropic's documentation has since written up modelPricing, on Claude apps gateway configuration.With v2.1.268 or later on the gateway server, the gateway also puts the rates from `pricing` into the [`managed`](#managed) policies it serves, as the [`modelPricing`](/docs/en/settings-reference#modelpricing) managed setting. Developers m…claude-apps-gateway-configsee the edit
How sure we are
Two sources agreeTwo things we can check say the same as this entry.
Anthropic's documentation agreesAnthropic's documentation has since written up modelPricing, on Claude apps gateway configuration.
The name it cites is new in this buildNew in this build: modelPricing
