Blue Cross Blue Shield Payment will pay approximately 6 million people for more than two years after health insurance companies reach a $2.67 billion settlement with subscribers.
Payment notice is being made to claimants, according to the latest news on the BCBS settlement website.
The settlement stems from a class action lawsuit alleging more than 35 BCBS' health insurance plans violated antitrust laws and agreed not to compete with each other, thus limiting competition in the health insurance market.
The defendant denied allegations of misconduct. “Instead, the plaintiff and settlement defendant have agreed to a settlement to avoid the risks and costs of further litigation,” the latest news from the settlement website said.
Who gets the check?
Participants must file a claim by November 5, 2021 to be eligible for payment from the $2.67 billion settlement fund.
Subscribers who are covered by certain Blue Cross Blue Shield health insurance or administrative services programs between February 2008 and October 2020 are potential class members.
The website does not indicate when to send payment notifications.
How to determine personal payment?
The individual payment amount is based on the number of valid claims made, the premium paid to one or more defendants in one of the two classes and whether one’s insurance is fully insured or self-sufficient.
According to the settlement website, “The settlement courses for individuals and insured populations are from February 2008 to October 16, 2020.” “The settlement courses for self-financing accounts are from September 1, 2015 to October 2020.” 16th.”
If the total payment of any claimant is equal to or less than $5, the claimant will not receive a check.
After deducting attorneys’ fees and administrative expenses, the net settlement fund is worth approximately $1.9 billion and will be allocated to approximately 6 million claimants. On average, the claimant can expect a check of $333.
