For information on the Blue Cross Blue Shield Settlement payout schedule, refer to the article. It covers extensive details about the Blue Cross Blue Shield Settlement payout timeline and other pertinent information.
Blue Cross Blue Shield Settlement
A settlement was reached in the lawsuit against BCBS on October 16, 2020. This settlement pertains to individuals and businesses that purchased insurance from Blue Cross Blue Shield. The defendants involved in the settlement are BCBSA and Individual Blue Plans.
For updates on claim status, necessary documents, significant dates, lawsuit details, court rulings and notifications, application links, and other pertinent information related to this settlement, please visit the official website of the Blue Cross Blue Shield Settlement.
Why is there a BCBS Settlement?
The BCBS Settlement arose from allegations made by class representatives that the defendants violated antitrust laws. They claimed the defendants colluded to restrict competition in the sale of health insurance and administrative services, agreeing not to compete against each other.
However, the defendants refuted these claims, arguing their actions actually improved healthcare access and reduced costs. Eventually, both parties—the defendants and plaintiffs—reached a settlement agreement.
If approved, the defendants will establish a $2.67 billion fund. Additionally, they will implement changes to foster increased competition in their business practices.
Who is a Class Member?
Anyone who was covered under this company’s health insurance or any administrative service plans between February 2008 and October 2020 may qualify as a Class Member.
- February 7, 2008 – October 16, 2020 (settlement period for Insured Groups/Individuals)
- September 1, 2015 – October 16, 2020 (settlement period for Self-Funded Accounts)
Please note that government accounts are not considered part of the Class. This settlement primarily encompasses two classes: an Injunctive Relief Class and a Damages Class.
Blue Cross Blue Shield Settlement Key Dates
Check the important dates –
| Deadline | Action |
| November 5, 2021 | Claim Filing (for damaged class) |
| May 2, 2022 (Self-Funded Entity Accounts) | July 28, 2021 (remaining classes) | Opt-Out |
| May 2, 2022 (Self-Funded Entity Accounts) | July 28, 2021 (remaining classes) | Object |
| October 20-21 (2021) | Hearing |
If someone chooses not to file a claim, it means they will not receive any payment, forfeit their right to sue the defendants, and become legally bound by the terms of the settlement.
BCBS Settlement Benefits
As part of the agreement, class members will receive payments. The settlement fund, totaling $1.9 billion, represents the remaining amount after deductions for administration expenses, attorneys’ fees, and other costs from the initial $2.67 billion fund.
One of the two Settlement Classes is Injunctive Relief, which entails companies making operational changes. A monitoring committee will oversee these changes for a period of five years.
For further details regarding the settlement, class member eligibility, fund distribution, agreement specifics, benefits, allocation, and additional pertinent information, please refer to the FAQs section on the BCBS Settlement website.
When will BCBS Settlement be paid?
Payments will be issued only to those individuals who filed a claim before the deadline. The court’s approval of the BCBS Settlement will determine when payments are made. Payments will be distributed once the court approves the settlement and resolves any appeals.
Recently, on October 25, 2023, the Eleventh Circuit Court of Appeals affirmed their approval of the settlement. Prior to the beginning of the first quarter of 2024, any further appeals must be lodged. Updates regarding the settlement and payment distribution will be provided in February 2024.
The $1.9 billion settlement fund will be divided into two parts. The first part, totaling $1.78 billion, will be allocated to Insured Groups and Individuals. The second part, amounting to $120 million, will be designated for Self-Funded Accounts. Both funds will be disbursed separately.
How to Check the Blue Cross Blue Shield Claim Status?
Individuals can conveniently verify their claim status using their Unique ID or Claim Number. The Unique ID, a 10-digit alphanumeric code, was provided to individuals in the notice sent by the Administrator.
To check your BCBS Claim Status:
- Check out the BCBS Settlement’s official website for more information.
- Click on “Check online claim status.”
- Enter the correct Unique ID or Claim Number.