What is the settlement amount for Blue Cross Blue Shield?
Blue Cross Blue Shield enrollees can expect payments from $2.67 billion settlement Contact Public Affairs: 360-725-7055 November 2, 2020
Can I Opt Out of the Blue Cross Blue Shield settlement?
Second, you can opt out of the Blue Cross Blue Shield settlement by July 28, 2021, retain your own attorney, and receive a lot more money (i.e. $3,000.00). However, you will get more money by opting out of the Blue Cross Blue Shield Settlement.
How much did the judge pay for the Blue Cross case?
The judge has awarded legal fees of $626 million, representing 23.47% of the settlement fund. A long-running $2.7 billion antitrust settlement against Blue Cross Blue Shield has been finalized in federal court. U.S. District Court Judge R. David Proctor in Alabama handed up the order on Tuesday, with the settlement to go into effect in 30 days.
What happened to the Blue Cross and blue shield case?
While we reject claims made by the plaintiffs in the case, we agreed to provide monetary payments to eligible individuals and groups and to make some operational changes across the Blue Cross and Blue Shield system.
When is the Blue Cross Blue Shield settlement?
The final hearing on the settlement will be held on October 20, 2021. Multiple different damages classes including fully insured and self-funded plans are eligible to receive payment under the settlement.
What is a proposed settlement?
The Notice of Proposed Settlement was issued to inform employers and individuals who are eligible for payment (the damage class) about the proposed settlement and give them time to decide what action (if any) they wish to take and the deadlines for doing so. If the settlement is approved, class members will be bound by the terms of the settlement unless they affirmatively opt out of the settlement. The following table describes the options these class members have.
What is total premiums paid?
The total premiums paid will be the sum of premiums paid for commercial health benefit products (including medical, pharmacy, vision, and dental plans) to any of the defendants for coverage during the class coverage periods described above (pro -rated for the partial months of February 2008 and October 2020). This amount will be calculated based on data provided by the Blue Cross member plans. Claimants will not have to submit any premium data unless it is specifically requested.
When are self funded accounts due for Blue Cross?
Self-Funded Accounts [2] (and their employees) that purchased or were enrolled in a Blue Cross or Blue Shield health insurance or administrative services plan between September 1, 2015 – October 16, 2020.
Can an employer ask for settlement information?
Employers may receive questions from their employees about this settlement, including advice on whether to file a claim or requests for information the employee needs to submit as part of their claim submission. While employers do not have any formal obligations to provide any notice/information, it may be helpful to provide some type of notice explaining the settlement to employees and informing them that they may have the right to file their own claims. Employees may also request certain information from employers (e.g., group numbers, policy numbers, coverage dates, etc.) that they need to file their claims. If employers have this information readily available, they may wish to provide it to employees (although again, there is no specific requirement to do so). Employers should be cautious in any communications with employees and should avoid saying or doing anything that appears to dissuade employees from filing their own claims.
How much did the Blue Cross Blue Shield settlement cost?
OLYMPIA, Wash. – A $2.67 billion settlement to resolve antitrust charges against health insurer Blue Cross Blue Shield will result in payments to some consumers of Premera and Regence health plans in Washington.
What states are covered by the Blue Cross Blue Shield settlement?
The settlement signed in U.S. District Court for the Northern District of Alabama affects the 36 Blue Cross Blue Shield insurers nationwide. In Washington, this includes Premera Blue Cross, Regence BlueShield, Regence BlueShield of Oregon, and Regence BlueShield of Idaho, Inc.
How many people does Blue Cross Blue Shield cover?
Blue Cross Blue Shield member companies cover more than 100 million Americans, or roughly a third of the nation’s population.
Who is the Commissioner of Insurance for Blue Cross Blue Shield?
But Insurance Commissioner Mike Kreidler said the greater benefit will be increased competition among health insurers, especially those in other states that historically have had fewer choices in markets dominated by Blue Cross Blue Shield companies.
How many members of large, geographically dispersed, self-funded national Employers are eligible for the second blue?
The Second Blue Bid provision of the Settlement Agreement was designed to enable 33 million Members of large, geographically dispersed, self-funded national Employers to have the opportunity to receive a Second Blue Bid.
Why is the Court approving the settlement notice?
The Court authorized the Notice because Class Members have a right to know about the proposed Settlement of certain claims against Settling Defendants in this class action lawsuit and about Class Members' options before the Court decides whether to approve the Settlement. If the Court approves the Settlement, and after objections ...
What is a class action lawsuit?
In a class action lawsuit, one or more people or businesses called class representatives sue on behalf of others who have similar claims. All of the people or businesses who have similar claims together are a “class” or “class members” if the class is certified by the Court. Individual class members do not have to file a lawsuit to participate in ...
Is Blue Cross Blue Shield a class member?
If you were covered by certain Blue Cross Blue Shield health insurance or administrative services plans between February 2008 and October 2020, you may be a Class Member. The Court certified two Settlement Classes in this case, a Damages Class and an Injunctive Relief Class. You may be included in both Settlement Classes.
Can you sue a settlement defendant?
This means that you cannot sue, continue to sue, or be part of any other lawsuit against Settling Defendants that makes claims based on the facts and legal theories involved in this case or any of the business practices the Settling Defendants adopt pursuant to the Settlement Agreement.
Did the court decide in favor of the plaintiffs or settlement defendants?
The Court did not decide in favor of the Plaintiffs or Settling Defendants. Instead, both sides have agreed to the Settlement. Both sides want to avoid the risk and cost of further litigation. The Plaintiffs and their attorneys think the Settlement is best for the Settlement Classes. 5.
Do you have to file a lawsuit to join a class action?
Individual class members do not have to file a lawsuit to participate in the class action settlement or be bound by the judgment in the class action. One court resolves the issues for everyone in the class, except for those who exclude themselves from the class. 4. Why is there a Settlement?
What is the proposed settlement for Blue Cross Blue Shield?
The proposed settlement resolves claims that Blue Cross Blue Shield companies conspired to limit competition, in turn boosting costs for policyholders.
How long does it take to fill out a claim form?
Filling out the claim form takes only a few minutes. You will need your insurance subscriber information.
How do I Exclude Myself, or “Opt Out”, from the Blue Cross Blue Shield Settlement?
If you do not want to be legally bound by the Settlement, you may send a request for exclusion (“opt out”). You will not receive any money, but you will keep your right to sue Blue Cross Blue Shield for the claims in this case. Opt outs must be postmarked by July 28, 2021.
When did the Blue Cross Blue Shield class action lawsuit end?
The attorneys representing the plaintiffs and the defendants agreed to a $2.67 billion settlement on October 16, 2020.
How did Blue Cross Blue Shield violate antitrust laws?
The class action alleged that Blue Cross Blue Shield violated antitrust laws by entering into agreements not to compete and to limit competition among in selling health insurance and administrative services for health insurance.
When can I opt out of Blue Cross Blue Shield?
$300). Second, you can opt out of the Blue Cross Blue Shield settlement by July 28, 2021, retain your own attorney, and receive a lot more money (i.e. $3,000.00).
When will Blue Cross Blue Shield pay out in 2021?
The Blue Cross Blue Shield Settlement provides monetary payments to class members who submit a valid claim by November 5 , 2021. To make a claim and receive a small payment, you must file a claim form online or by mail.
When do you have to mail your exclusion request?
You must mail or email your Exclusion Request, postmarked or received by July 28, 2021, to:
