Payments arising from a $2.67 billion settlement related to the insurance company's class action lawsuit against Blue Cross Blue Shield could arrive soon.
The settlement comes from a class action lawsuit that occurred in 2013 in Alabama against more than 35 Blue Cross Blue Shield health insurance plans. USA Today wrote. The lawsuit alleges that by limiting marketing competition, the company violated antitrust laws, with higher premiums and fewer customer options.
Blue Cross Blue Shield denied the claim and reached a settlement before the court issued a verdict.
“This settlement concludes a long-term legal challenge to the Blue Cross Blue Shield Association license agreement and related rules. It denies any claims made in the lawsuit. However, it reached the settlement and ended the long-standing lawsuit. To put it behind us, we have agreed to make some operational changes and make monetary payments to the provider class involved in the case,” the company said in an October 2024 statement. I did.
Who is the target of the settlement?
Between February 2008 and October 2020, Blue Cross Blue Shield individuals, insured groups, and clients with self-funded accounts were subject to the lawsuit. The deadline for filing a request was November 5th, 2021. This means that new submissions are no longer accepted. Payments for those who made the file are currently issued, According to the payment website.
Approximately $1.9 billion remains in the settlement fund after attorneys' fees. Approximately 6 million requests were submitted by the deadline, USA Today reported Payments are expected to be billed on an average of $333.
Although no payment deadline has been announced, the settlement website is currently charged with a billing decision notification sent on a “rolling base.”
