WellPoint Inc., the nation’s biggest publicly traded health insurer, said Monday it will pay up to $198 million to settle two class action lawsuits brought by representatives of more than 700,000 doctors over alleged unfair payment practices.

As part of the settlement, the Indianapolis-based company said it has agreed to pay $135 million to doctors and contribute $5 million to a nonprofit foundation aimed at improving health care for the disadvantaged. It also said it would pay legal fees of up to $58 million, in an amount to be determined by the court.