Will Blue Cross Blue Shield get a portion of the $2.67 billion settlement that will soon begin paying customers?
The funds are a settlement in a year-long lawsuit that claims major health insurance companies have violated antitrust laws.
What you need to know about the lawsuit, how much payments will be, when they are expected, who qualifies for the funds settlement.
What was the lawsuit?
A class action lawsuit was filed in 2013, citing more than 35 Blue Cross and Blue Shield plans. The company claimed that customers had to pay more for reduced options because it restricted market competition.
The lawsuit was settled before the court reached its final judgment, and the company has always denied the claim.
Are you eligible for some of the Blue Cross Blue Shield settlements?
Those insured by Blue Cross and Blue Shield from February 2008 to October 2020 may be able to cut the pie.
The settlement had two classes of plaintiffs.
- Individual and insured group Customers between February 7, 2008 and October 16, 2020 may be eligible.
- Self-funded account Customers between September 1, 2015 and October 16, 2020 may be eligible.
Funds will only be delivered to those who filed their claims by November 5th, 2021. If you do not file a claim, you will not receive money if you meet the settlement criteria.
If you receive payment, how much can you expect?
According to the Blue Cross Blue Shield site, approximately $1.9 billion will be sent to consumers.
Approximately 6 million people reportedly filed their claims by the deadline. The Blue Cross Blue Shield settlement site noted that payments under $5 will not be distributed.
If all charges are paid equally, it could be around $300 per person.
more:Why do Americans pay more for health care?
When will your payment be displayed?
According to the Blue Cross Blue Shield site, claim notifications go to customers “on a rolling basis.”
It reads “No distribution will be made until there is a final resolution of all decisions and disputes that may affect payment of the claim.”
Contribution: Greta Cross
Bonnie Bolden is a Mississippi Deep South Connect reporter and uses Gannett/USA Today. Email her to bbolden@gannett.com.
