Check out the details about Blue Cross Blue Shield Settlement: When will BCBS Settlement be paid? from this article. Numerous details regarding Blue Cross Blue Shield Settlement: When will BCBS Settlement be paid? and other substantial details are included in this article.
Blue Cross Blue Shield Settlement
The lawsuit filed against BCBS reached a settlement on 16 October 2020. This settlement was made on behalf of the companies and people who purchased insurance from Blue Cross Blue Shield company. The settling defendants are BCBSA and Individual Blue Plans.
The claim status, important documents, key dates, lawsuit information, court orders and notices, apply links, and other relevant information regarding this settlement can be obtained from the official website of the Blue Cross Blue Shield Settlement.
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Why is there a BCBS Settlement?
The class representatives claimed that the defendants violated antitrust laws. In addition, they claimed that the defendants agreed to limit the competition in selling health insurance and its administrative services. They made an agreement of not competing amongst themselves.
However, the defendants denied all these claims and asserted that their conduct resulted in greater healthcare access and lower costs. After a while, both parties, i.e., defendants and plaintiff, reached an agreement.
If approved, the defendants have to establish a 2.67 billion dollar fund. Furthermore, the defendants will have to agree to make changes in their way of doing business so that the opportunities for competition increase.
Who is a Class Member?
If someone was covered by this company’s health insurance or any administrative service plans between Feb 2008 and Oct 2020, they might be a Class Member.
- Feb 7, 2008 – Oct 16, 2020 (settlement period for Insured Groups/Individuals)
- Sep 1, 2015 – Oct 16, 2020 (settlement period for Self-Funded Accounts)
Please note that the government accounts are not included in the Class. This settlement mainly includes 2 classes – an Injunctive Relief Class and a damaged class.
Blue Cross Blue Shield Settlement Key Dates
Check the key 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 |
The last date to file a claim by the damaged class members was November 5, 2021. When someone does nothing, it means that they won’t get any payment, give up their rights to sue the defendants, and become bound by the settlement.
BCBS Settlement Benefits
The class members will receive payments as a part of the agreement. The settlement fund is estimated to be 1.9 billion dollars. This settlement fund is the remaining amount after making deductions, such as administration expenses, attorneys’ fees, and other expenses from the 2.67 billion dollar fund.
Injunctive Relief is one of the two Settlement Classes. It means that the companies have agreed to make changes in their way of doing business. For this, a monitoring committee will be established for 5 years.
More information about the settlement, class members, funds, agreement, settlement benefits, allocation, and other relevant details are available in the FAQs section of the BCBS Settlement website.
When will BCBS Settlement be paid?
The payments will only be issued to the individuals who have filed the claim before the deadline. The court decides whether the BCBS Settlement will be approved or not. Intended payments will be issued once the court makes the approval and resolves any appeals.
The Eleventh Circuit Court of Appeals recently affirmed their approval of the settlement. This was made on October 25, 2023. Any additional appeals can be made by the 1st quarter of 2024. More updates on this settlement and payments will be notified in February 2024.
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The 1.9 billion dollar settlement fund will be divided into two parts. The first part will consist of a 1.78 billion dollar fund, which will be created for Insured Groups and Individuals. The second part will consist of a 120 million dollar fund, which will be created for Self-Funded Accounts. Both funds will be disbursed independently.
How to Check the Blue Cross Blue Shield Claim Status?
Individuals can easily check their claim status by using their Unique ID or Claim Number. The unique ID was sent to the individuals in the notice from the Administrator. The Unique ID is a 10-digit code that includes numbers and letters.
To check the BCBS Claim Status –
- Go to the official website of the BCBS Settlement.
- Click on “Check online claim status”.
- Submit the correct Unique ID or Claim Number.
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