Blue Cross Blue Shield settlement payments to begin. Are you getting one?
Blue Cross Blue Shield will soon begin distributing settlement payments resulting from a $2.67 billion class-action lawsuit alleging the health insurance giant violated antitrust laws.
The litigation began in 2013, when a class-action lawsuit was filed against more than 35 Blue Cross Blue Shield health insurance plans. The lawsuit alleges that the company violated antitrust laws by limiting market competition, resulting in increased premiums and reduced options for customers.
Blue Cross Blue Shield repeatedly denied these claims, and the case was settled after the court was unable to reach a final decision. Blue Cross Blue Shield did not respond for comment when contacted by USA TODAY in February.
Here’s what you need to know about settlement payments, including who is eligible, how much the payments are expected to be, and when payments are due.
Who is eligible for a Blue Cross Blue Shield settlement payment?
Customers eligible for the Blue Cross Blue Shield settlement payment must submit a claim by November 5, 2021. If the customer is eligible and has not applied by the deadline, the customer will not be paid.
The settlement payment consists of two classes: Individual and Insured Group and Self-Funded Account. Individuals and Insured Groups who were customers between February 7, 2008 and October 16, 2020 may be eligible to receive payments, and Self-Funded Accounts who were customers between September 1, 2015 and October 16, 2020 may also be eligible for payments.
How much are the settlement payments?
Approximately six million claims have been made through November 2021, so payments are expected to be around $333 per claim.
Although Blue Cross Blue Shield agreed to establish a $2.67 billion settlement fund, it was left with only $1.9 billion to pay after deducting attorneys’ fees, administrative expenses and other expenses. Blue Cross Blue Shield Settlement website.
When will swap payments be made?
The first distribution of payments will begin in May 2026, according to the agreement website. Claim notifications must be emailed to customers in advance.
What is the Blue Cross Blue Shield Association?
Blue Cross Blue Shield Association is an association of health insurance companies in the United States. Companies offer plans to individuals, families and businesses.
Credit: Presley Bo Tyler, Shreveport Times and David Bruce, Erie Times-News
Greta Cross is USA TODAY’s national trends reporter. Follow her on X and @gretalcross on Instagram. Story idea? Email him at gcross@usatoday.com.
Gabe Hauari is a national trending news reporter for USA TODAY. You can follow him on X @GabeHauari or email him at Gdhauari@gannett.com.
This article first appeared on USA TODAY: Blue Cross Blue Shield payments begin in May for $2.67 billion
