Blue Cross Blue Shield (BCBS) reached a $2.67 billion settlement in a class-action antitrust lawsuit from October of last year. A class notice campaign is currently underway, ensuring individuals and companies who may have been impacted by damages are notified of their rights and know how to file a claim.
What the Lawsuit is About
According to the BCBS settlement website, the settlement will resolve claims that the insurers “violated antitrust laws by entering into an agreement not to compete with each other and to limit competition among themselves in selling health insurance and administrative services for health insurance.”
The defendants have denied all allegations of wrongdoing and asserted that their actions have resulted in lower healthcare costs as well as greater access to care for their customers.
The court has not decided who is right or wrong. Instead, according to BCBS, plaintiffs and settling defendants have agreed to a settlement in order to avoid the risk and cost of further litigation.
Who the Lawsuit Impacts
You may be a Class Member if you or your company were covered by certain BCBS health insurance or administrative services plans between February 7, 2008 and October 16, 2020.
Those eligible to receive payment are Individuals, Insured Groups or Self-Funded Accounts that purchased or were enrolled in a BCBS health insurance or administrative services plan during one of the two settlement periods.
The settlement class period for Individuals and Insured Groups is from February 7, 2008 through October 16, 2020.
The settlement class period for Self-Funded Accounts is from September 1, 2015 through October 16, 2020.
What You Can Get from the Settlement
Those who submit valid claims may receive a cash payment from the Net Settlement Fund. The Net Settlement is estimated, once attorney fees and administrative expenses are deducted, to be approximately $1.9 billion. More details about the Plan of Distribution can be found in the Long Form Notice available on the BCBS settlement website.
BCBS also agreed to make changes in the way they do business to increase the opportunities for competition in the market for health insurance.
How You Can Receive a Payment
You must submit a valid claim to be eligible to receive a payment. This must be done online using the BCBS settlement website or postmarked by mail no later than November 5, 2021.
Claims forms may also be requested by calling (888) 681-1142 or on the BCBS settlement website.
Other Options Available
If you don’t wish to be legally bound by the settlement, you may send a request for exclusion or to opt out. While this means you will receive no money, you will still keep your right to sue BCBS for the claims in the case.
If you do not exclude yourself, you may also choose to object the settlement. You will still be bound by the settlement if your objection is rejected.
Opt outs and objections must be postmarked by July 28, 2021.
Filing a Claim
To file a claim online, click here.
Get Your Questions Answered
If you have any questions or concerns regarding the settlement, your eligibility, how to submit a claim or any other related topic, please use the following contact information:
Settlement Website: www.BCBSsettlement.com
Email: info@BCBSsettlement.com
Phone: (888) 681-1142
Address: Blue Cross Blue Shield Settlement
c/o JND Legal Administration
P.O. Box 91390
Seattle, WA 98111.
As always, you can reach out to Simpara to discuss further at 314.637.6756 or at info@simparahr.com.
