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 does the BCBS settlement mean for Home Depot?
As part of the settlement, BCBS companies agreed to make changes in the way they do business to increase opportunities for competition in the market for health insurance. However, Home Depot has argued the settlement doesn't go far enough in boosting competition among the Blue insurers, according to The Wall Street Journal.
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.
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 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 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).
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?
How much is the Blue Cross Blue Shield settlement?
If you were covered by Blue Cross Blue Shield health insurance or administrative services plans between February 2008 and October 2020, you may be owed a cash refund from this $2.67 billion settlement. The settlement was agreed to after allegations that the Blue Cross Blue Shield Association used price fixing to artificially raise the price ...
How long has BCBSA been in litigation?
With BCBSA representing nearly a third of Americans with private health insurance, the impact of such allegations is massive. After 8 years of litigation, 15 million pages of documents, over 120 depositions, and more than a dozen motions to dismiss the plaintiff’s claims, all 36 members of the BCBSA have agreed to a proposed $2.67 billion ...
Why did the BCBSA charge higher rates?
The class members claimed that the rules allowed BCBSA members to charge significantly higher rates by not competing with each other. With limiting competition between each member of the association, members were able to create artificially high rates that consumers were forced to pay due to lack of other options.
When is the Blue Cross Blue Shield refund due?
If you were covered by Blue Cross Blue Shield health insurance or administrative services plans between February 2008 and October 2020, you may be owed a cash refund from this $2.67 billion settlement. The settlement was agreed to after allegations that the Blue Cross Blue Shield Association used price fixing to artificially raise the price of insurance rates across the country. Filing Deadline: November 5, 2021
When is the deadline for class action lawsuits in 2021?
As the November 5, 2021, filing deadline has passed, we are no longer accepting clients for this class action.