Blue Cross Blue Shield Anti-Trust Settlement - Update
According to bcbssettlement.com, the Blue Cross Blue Shield Association has opted to settle a lawsuit in the amount of $2.67 billion dollars rather than continuing to fight allegations that they violated antitrust laws. The lawsuit claimed that the BCBS Association agreed not to compete with each other and to restrict competition among themselves in selling health insurance and administrative services for health insurance. BCBS denies all claims. The court has not yet reached a decision on who is correct.
You may be eligible to receive payment if you are an Individual, Insured Group (and their employees) or Self-Funded Account (and their employees) that purchased or were enrolled in a Blue Cross or Blue Shield health insurance or administrative services plan during one of the two settlement class periods. Government accounts are excluded from the class.
The Settlement Class Period for Individuals and Insured Groups is from February 7, 2008, through October 16, 2020. The Settlement Class Period for Self-Funded Accounts is from September 1, 2015 through October 16, 2020. Dependents, beneficiaries (including minors), and non-employees are NOT eligible to receive payment.
All Individuals, Insured Groups, and Self-Funded Accounts that purchased or were enrolled in a Blue Cross or Blue Shield health insurance or administrative services plan during the applicable Class Period will also benefit from the parts of the Settlement requiring Settling Defendants to change certain of their practices that were alleged to be anticompetitive. Dependents, beneficiaries (including minors), and non-employees will benefit from this part of the Settlement.
For the latest updates, please follow this link