Blue Cross Blue Shield $2.67 Billion Settlement Checks Coming Soon: What You Need to Know
Blue Cross Blue Shield (BCBS) is preparing to distribute settlement checks totaling $2.67 billion to approximately 6 million eligible subscribers. This comes after a class-action lawsuit was filed in 2013, accusing BCBS plans of unlawfully colluding to restrict competition and keep prices artificially high. The settlement marks a significant resolution to a case that has been ongoing for over a decade. As the distribution begins, many people in northwestern Pennsylvania, and beyond, are wondering how this will impact them and whether they will be eligible for compensation.
The original lawsuit claimed that over 35 Blue Cross Blue Shield insurance plans, including major players like Highmark, conspired not to compete with one another. This agreement to limit competition ultimately harmed consumers by inflating prices and reducing the quality of available healthcare. To resolve this, BCBS has agreed to compensate affected individuals as part of the $2.67 billion settlement. However, due to legal fees amounting to $667 million, the average payout for each eligible claimant is expected to be around $333.
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Many people, including residents of Erie, are anxiously awaiting news regarding the status of their claims. According to the latest update from the settlement's website, claims are being processed and determination notices are being sent out on a rolling basis. As of now, the settlement website has not provided a specific timeline for when all notifications will be completed. If you're checking on your own claim, you might find that it is still “in review,” but rest assured that notices are being sent gradually.
It’s important to note that the BCBS plans involved in this lawsuit include a network of independent, locally operated insurers, each with its own geographical service area. For instance, Highmark, one of the largest BCBS members, serves Pennsylvania, West Virginia, Delaware, and parts of Ohio and New York. This means that the settlement will likely impact people across multiple states who have been enrolled in BCBS plans.
While many will receive their checks soon, it's worth mentioning that there were legal challenges to the terms of the settlement. Some objected to the $667 million designated for legal fees, arguing that it was too high. The U.S. Supreme Court recently denied these appeals, meaning the settlement is now final. With the appeals resolved, funds will soon be distributed to those who filed claims by the November 2021 deadline.
In addition to the $2.67 billion settlement for subscribers, BCBS also reached a separate $2.8 billion settlement with healthcare providers who had accused the insurer of similar anti-competitive practices related to payments made to hospitals and doctors. This further highlights the ongoing efforts to resolve BCBS's alleged violations of competition laws.
If you think you may be eligible for a share of this settlement, it's time to check the status of your claim and keep an eye out for the official notice. As always, if you have any questions about the process or need assistance, you can contact the settlement administrators directly. The long-awaited checks are finally on their way—stay tuned for your share of the compensation.
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