How much is the Blue Cross Blue Shield settlement worth?
The settlement fund is estimated to be approximately $1.9 billion. This number represents the amount of money left after deducting attorneys’ fees, administration expenses, and other costs from the $2.67 billion Blue Cross Blue Shield Settlement. How Can I Get Paid?
Did Blue Cross Blue Shield give you a cash refund?
Blue Cross Blue Shield $2.67 billion 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.
How do I file a Blue Cross Blue Shield settlement?
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. Claims may be submitted online at www.BCBSsettlement.com or by mail to:
Who is eligible for the Blue Cross Blue Shield settlement?
As part of the settlement, the plans deny all allegations of wrongdoing. Anyone who was enrolled in a Blue Cross Blue Shield individual or group insurance plan between Feb. 7, 2008 and Oct. 16, 2020 may be eligible for money. Those enrolled in a self-funded account between Sept. 1, 2015 and Oct. 16, 2020 also may be eligible.
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.
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.
Can an employer elect an alternative option for calculating the allocation?
For both fully insured and self-funded claimants, employers and employees have the option, when filing, to elect an alternative option for calculating the allocation. In this case, the Claims Administrator will contact them and provide them the opportunity to submit additional evidence to support their case before making a final determination. If the request for the alternative option is rejected, the calculation will revert to the default allocation.
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.
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.
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.
When is Notice of Intent due?
Notice of Intent due July 28, 2021. Of note here is the fact that while those who choose to do nothing will not be eligible for payment, it is only when somebody actively opts out of the settlement that they will retain the right to sue and not be bound by the settlement’s terms.
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.
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 do you have to mail your exclusion request?
You must mail or email your Exclusion Request, postmarked or received by July 28, 2021, to:
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 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 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.
What is refund recovery group?
Refund Recovery Group is a leading outsource solution in class action recoveries. Our team has helped thousands of individuals and companies recover millions of dollars in refunds from these settlements. We welcome the opportunity to assist you in recovering a refund from the Blue Cross Blue Shield Antitrust Litigation. Oftentimes eligible parties fail to file a claim because they believe that the potential refund is not worth their effort or they are just too busy - so let us do the work for you. We only recover if you do.
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 ...
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.
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 the purpose of a claims administrator?
The Claims Administrator is required to keep this information confidential and use it only for the purposes of effectuating a notice plan, administering and calculating claims, distributing Settlement funds, and otherwise carrying out the work necessary to administer the Settlement.
What does "objecting" mean in court?
Objecting is telling the Court that you do not like something about the Settlement. You can object only if you do not exclude yourself from the Settlement Classes. Excluding yourself is telling the Court that you do not want to be part of the Settlement Classes or the lawsuit as outlined in FAQ 28.
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 Medicare Supplemental covered by Settlement?
Medicare Advantage policies are not within the scope of products included in the Settlement classes. However, Medicare Supplemental policies are within the scope of products included in the Settlement classes, so long as they meet the other criteria (e.g., dates of coverage).
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.
Introduction
Background
- In 2012, plaintiffs alleged that the Blue Cross Blue Shield Association and its 35 member companies violated the Sherman Antitrust Act by agreeing not to compete in selling health insurance and administration of commercial health benefit products in the United States and Puerto Rico, as well as agreeing to other means of limiting competition in the health insurance m…
Key Provisions of The Settlement
- Under the terms of the settlement, the Blue Cross Blue Shield Association and its member plans would agree to: 1. Make changes to the way they do business to increase opportunities for competition in the health insurance market; and 2. Allow qualified national self-funded accounts to request a second bid for coverage from a member plan of their choice (“Second Blue Bid”). As p…
Damages Classes
- The following classes may be eligible for payment from the settlement amount: 1. Individuals that purchased or were enrolled in a Blue Cross or Blue Shield health insurance or administrative services plan between February 7, 2008 – October 16, 2020; 2. Insured Groups (and their employees) that purchased or were enrolled in a Blue Cross or Blue Shield health insurance or …
Options For Damage Class Members
- The Notice of Proposed Settlementwas 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 …
What Can/Should Employers do?
- 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 e…
Next Steps
- Next steps for employers who are eligible to file a claim: 1. Decide whether to: 1.1. File Claim 1.1.1. If filing a claim, determine whether to use default assumptions or elect an alternative option for calculating allocation. 1.2. Do Nothing 1.3. Opt Out 1.4. Object 1.5. Speak at Hearing 2. Decide whether to communicate to employees 2.1. If communicating upfront, determine what informatio…
Conclusion
- It is important for employers to keep in mind that any individual settlement amount is likely to be relatively small – e.g., a few hundred dollars for a large employer, and under $100 for any individual employee. So, while it will be important to understand the allocation methods and the filing options, perspective is needed when determining whether to propose an alternative allocati…