Blue Cross Blue Shield Antitrust Settlement: What You Need to Know
Background and Lawsuit
Blue Cross Blue Shield, a leading health insurance provider in the United States, has agreed to pay $2.67 billion to settle an antitrust lawsuit alleging that its practices limited market competition. The class-action lawsuit, filed in 2013, accused Blue Cross Blue Shield of:
- Limiting competition between its plans
- Increasing premiums for customers
- Reducing options for consumers
Blue Cross Blue Shield has consistently denied these allegations. Despite the lack of a final verdict, the parties reached a settlement agreement.
Settlement Payment Details
Eligibility:
Eligible customers who filed claims by November 5, 2021, will receive settlement payments. Individuals and Insured Group customers covered between February 7, 2008, and October 16, 2020, may have been eligible. Self-Funded Accounts covered between September 1, 2015, and October 16, 2020, may also have been eligible.
Payment Amount:
Approximately six million eligible claims were filed by the November 2021 deadline. The total settlement fund is $2.67 billion, but after deducting legal fees and expenses, only $1.9 billion remains for payouts. As a result, the expected payment per claim is approximately $333.
Claim Notification and Payment Schedule
Blue Cross Blue Shield is sending claim notices to eligible customers on a "rolling basis." The payment schedule is not specified in the available information.
The Blue Cross Blue Shield Association
The Blue Cross Blue Shield Association is an association of independent health insurance companies in the United States. These companies offer health plans to individuals, families, and businesses. The association does not directly provide insurance coverage.
Additional Information
Contacting Blue Cross Blue Shield:
For questions about the settlement, customers can contact:
- Blue Cross Blue Shield Settlement Website
- Email: [email protected]
Independent Legal Advice:
Individuals with questions about their eligibility or legal rights may consider seeking independent legal advice.
Disclaimer:
This article provides general information about the Blue Cross Blue Shield antitrust settlement. It does not constitute legal advice.
