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- Blue Cross Blue Shield will soon start sending out checks as part of a class action lawsuit settlement. The lawsuit claimed the insurer broke antitrust laws.
- The settlement impacts people covered under certain BCBS plans between 2008 and 2020.
- While the average payment is around $300, the insurer won’t send some checks at all.
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About six million people are about to get payments from Blue Cross Blue Shield after waiting more than two years. The health insurer will send notices of payment from a $2.67 billion class action lawsuit settlement from 2022 on a rolling basis.
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The suit claimed more than 35 BCBS health insurance plans violated antitrust laws by agreeing not to compete with each other, limiting competition in the health insurance market.
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BCBS said the settlement is not an admission of wrongdoing, rather a way to “avoid the risk and cost of further litigation.”
Who’s getting a check?
The insurer will send payments to subscribers who were part of certain BCBS plans between February 2008 and October 2020 and filed a claim by Nov. 5, 2021.
Payment amounts vary based on how many valid claims a person filed, the premiums paid during that time period and whether a person’s insurance was fully insured or self-funded.
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How much will they get?
After more than $600 million in attorneys fees were deducted from the settlement, the average check will be around $300.
Anyone whose payment would be $5 or less won’t be getting a check.
Tags: antitrust, Blue Cross Blue Shield, class action, Health, Health Care, health insurance, Insurance, insurance premium, Lawsuit, Settlements
[CRAIG NIGRELLI]
ABOUT SIX MILLION PEOPLE ARE ABOUT TO GET PAYMENTS FROM BLUE CROSS BLUE SHIELD – AFTER WAITING TWO YEARS.
THE HEALTH INSURER SAYS NOTICES OF PAYMENT FROM A 2 POINT 6-7 **BILLION** DOLLAR CLASS ACTION LAWSUIT SETTLEMENT ARE BEING SENT ON A ROLLING BASIS – SO IF YOU WERE PART OF THE LAWSUIT, LOOKOUT FOR YOURS.
THE SUIT CLAIMED MORE THAN 35 B-C-B-S HEALTH INSURANCE PLANS VIOLATED ANTITRUST LAWS BY AGREEING **NOT** TO COMPETE WITH EACH OTHER – LIMITING COMPETITION IN THE HEALTH INSURANCE MARKET.
THE PAYMENTS WILL BE SENT TO SUBSCRIBERS WHO WERE PART OF CERTAIN B-C-B-S PLANS BETWEEN FEBRUARY 20-08 AND OCTOBER 20-20…
AND FILED A CLAIM BY NOVEMBER 5-TH, 20-21.
PAYMENT AMOUNTS WILL VARY…
BASED ON HOW MANY VALID CLAIMS A PERSON FILED, THE PREMIUMS PAID DURING THAT TIME PERIOD, AND WHETHER A PERSON’S INSURANCE WAS FULLY INSURED OR SELF-FUNDED.
BUT THE AVERAGE CHECK SHOULD BE AROUND 300 DOLLARS.
OH, AND IF YOU FILED A CLAIM THAT WASN’T WORTH MUCH BUT YOU THOUGHT “ANYTHING’S BETTER THAN NOTHING” – JUST KNOW ANYONE WHOSE PAYMENT EQUALS FIVE DOLLARS OR LESS WON’T BE GETTING A CHECK.
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