After a lengthy legal battle, Blue Cross Blue Shield (BCBS) has agreed to a $2.67 billion settlement to resolve allegations of anticompetitive practices. If you’re wondering whether you’re eligible for a payment, here’s what you need to know.
What led to the Blue Cross Blue Shield settlement?
In 2013, a class-action antitrust lawsuit was filed against more than 35 BCBS health insurance plans. The lawsuit claimed that these plans had illegally agreed not to compete with each other, thereby restricting competition and potentially inflating insurance prices. BCBS denied any wrongdoing but opted to settle to avoid prolonged litigation.
Who is eligible for the settlement payment?
To be eligible for a payment from the settlement fund, you must have met the following criteria:
- Coverage Period:
- Individuals and insured groups who were covered by a BCBS health insurance plan between February 7, 2008, and October 16, 2020.
- Self-funded accounts and their employees who had coverage between September 1, 2015, and October 16, 2020.
- Claim Submission:
- A claim must have been filed by the deadline of November 5, 2021. Unfortunately, if you missed this deadline, you’re not eligible for a payment.
Dependents, beneficiaries (including minors), and non-employees are not eligible to receive payment.
How much can eligible claimants expect to receive?
Approximately six million people filed claims by the November 2021 deadline. After deducting legal fees and other costs, each claimant can expect to receive about $333. This amount is an estimate and could vary based on factors such as the premiums paid and the type of plan held.
When will the settlement checks be mailed?
The distribution of settlement funds has been a prolonged process. As of now, claim determination notices are being emailed on a rolling basis. However, no specific date has been provided for when all notices will be sent or when the checks will be mailed. It’s advisable to monitor your email and the official settlement website for updates.
How can you check the status of your claim?
If you filed a claim before the deadline, you can check its status by visiting the official BCBS settlement website:
- Navigate to the “I Would Like To” tab.
- Click on “Check My Claim Status.”
- Enter your Claim Number or Unique ID.
- Submit to view your claim status.
This tool is only available for claims filed online.
