Could you get part of the $2.67 billion settlement that Blue Cross Blue Shield will start paying customers soon?
The funds are a settlement in lawsuit that spanned years alleging the major health insurer broke antitrust laws.
Here’s what you need to know about the suit, how much the payments are, when they can be expected and who could be eligible to get funds from the settlement.
What was the lawsuit about?
A class-action lawsuit was filed in 2013, citing more than 35 Blue Cross and Blue Shield plans. It alleged that the company limited market competition, so customers had to pay more for reduced options.
The suit was settled before the court reached a final verdict, and the company has always denied the allegations.
Am I eligible for some of the Blue Cross Blue Shield settlement?
People who Blue Cross and Blue Shield insured between February 2008 and October 2020 might be able to get a cut of the pie.
The settlement had two classes of plaintiff:
- Individuals and Insured Group customers between Feb. 7, 2008 and Oct. 16, 2020 might be eligible.
- Self-Funded Account customers between Sept. 1, 2015 and Oct. 16, 2020 might be eligible.
The funds will only come to people who filed a claim by Nov. 5, 2021. If you didn’t file a claim then, you will not get any money if you otherwise met the criteria of the settlement.
How much can I expect if I get a payment?
According to the Blue Cross Blue Shield site, about $1.9 billion will go to consumers “after deducting attorneys’ fees, administration expenses and other costs from the $2.67 billion Settlement Fund.”
About 6 million people reportedly filed claims by the deadline. The Blue Cross Blue Shield settlement site noted that payouts of $5 or less won’t be distributed.
If all claims were paid equally, it could be about $300 per person.
More:Why Americans pay so much more for health care.
When could payments show up?
Claim notices are going to customers “on a rolling basis,” according to the Blue Cross Blue Shield site.
“No distributions will be made until there is a final resolution of all determinations and disputes that could potentially impact the Claims Payments,” it reads.
Contributing: Greta Cross
Bonnie Bolden is the Deep South Connect reporter for Mississippi with Gannett/USA Today. Email her at bbolden@gannett.com.