what's the blue cross blue shield settlement

How much Blue Cross settlement?

– 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. The settlement signed in U.S. District Court for the Northern District of Alabama affects the 36 Blue Cross Blue Shield insurers nationwide.

Why is BCBS being sued?

The lawsuit claims that Blue Cross violated antitrust laws by reducing competition in their areas, allowing for higher rates on some plans. However, Blue Cross denies allegations of wrongdoing, claiming its actions resulted in lower health care costs and greater access to customers and has agreed to a settlement. Here’s what you should know:

Does Blue Cross Blue Shield over Viagra?

This allows us to help CPAP patients with different insurance carriers in all 50 states, instead of being limited to one service area..It means they have medication coverage A drug list, is a list of drugs available to Blue Cross and Blue Shield of Illinois (BCBSIL) members.Sponsored and administered by: The Blue Cross and Blue Shield does federal blue cross blue shield cover viagra Association and participating Blue Cross and Blue Shield Plans.Visit your primary care physician 2020 Blue ...

Does Blue Cross Blue Shield cover the IUD?

My insurance does cover it fully ($400). I am opting for the copper IUD, which my Blue Cross insurance will cover. It depends on your plan. I have Blue Cross / Anthem and I was told that the cost of inserting the IUD is covered 100%, but Mirena itself isn't covered until I've met my $1000 deductible.

When can I expect my Facebook settlement check?

When will your settlement check arrive? Facebook class action update: “The Settlement Administrator began sending settlement payments to class members on May 9, 2022. It will take about two weeks to finish mailing the checks and processing the electronic payments.

What does it mean when a settlement is in review?

Settlement Review means the evaluation by the Settlement Facility, under Basic Review or Comprehensive Review, of each Unresolved Asbestos Claim or Post-Confirmation Asbestos Liability submitted to the Settlement Facility under the processes and procedures established by the CRP to determine whether a Settlement Offer ...

How long does it take to receive money from a class action settlement?

The answer is typically between one and six weeks after your attorney reaches a settlement or the judge hearing your case awards you monetary damages. The reason why it takes as long as it does is your lawyer receives your settlement check to take care of certain expenses before you receive just compensation.

How long does it take to get paid after a settlement?

While rough estimates usually put the amount of time to receive settlement money around four to six weeks after a case it settled, the amount of time leading up to settlement will also vary. There are multiple factors to consider when asking how long it takes to get a settlement check.

Do Lawyers lie about settlements?

Lawyers lying about settlements in trial or providing a false statement is not unheard of. However, according to rules of professional conduct, anything said in a settlement conference is confidential and inadmissible during trials.

How does the settlement process work?

A settlement agreement works by the parties coming to terms on a resolution of the case. The parties agree on exactly what the outcome is going to be. They put the agreement in writing, and both parties sign it. Then, the settlement agreement has the same effect as though the jury decided the case with that outcome.

How long do banks hold settlement checks?

Cashing in Your Settlement Check With Your Bank Generally, a bank can hold funds: For up to two business days for checks against an account at the same institution. For up to five additional days for other banks (totaling seven days)

What is the usual result of a settlement?

After a case is settled, meaning that the case did not go to trial, the attorneys receive the settlement funds, prepare a final closing statement, and give the money to their clients. Once the attorney gets the settlement check, the clients will also receive their balance check.

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.

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 long is BCBS settlement?

There have been tens of millions of people covered under BCBS plans during the settlement period and the settlement includes 13 years for fully-insured plans (2008-2020). During that time, trillions of dollars of insured premium were paid. Much will depend on the participation and claim filing rates of employers and individuals.

When do BCBS claims have to be posted?

Answer: After the claims period has closed (remember the deadline to file/postmark your claim is November 5, 2021), the settlement claims administrator will create a secure portal on the settlement website and post the year-by-year premiums and/or administrative fees (which form the basis of the claimant’s ultimate distribution) assigned to each claimant, based on data provided by the BCBS plan and any other information gather by the claim administrator through the claim process. While this figure will not represent the claimant’s settlement payment, it will identify the basis for calculating such payment. Claimants will be able to review the paid premium or fees used to calculate their award and can contest those figures and request a correction within 30 days of the secure portal posting.

What is a JND settlement agreement?

Answer: The settlement agreement requires that each BCBS plan provide the settlement claim administrator (JND Legal Administration) with billed premium and fee information and covered lives counts, as well contact information for class members, including a personal identifier (“unique ID”) that will be assigned to each potential claimant.

What is the settlement of a class action lawsuit?

In October of 2020, Blue Cross and Blue Shield (BCBS) companies reached an agreement to settle a class action lawsuit in a case brought by subscribers related to licensing agreements within the BCBS system. While the BCBS Companies rejected claims made by the plaintiffs in the case, they agreed to provide monetary payments to eligible individuals and employers and to make some operations changes across the Blue Cross and Blue Shield system. The parties agreed to a settlement to avoid the risk and cost of further litigation. The settlement terms will be reviewed by the Court on October 20, 2021 to determine if the settlement is fair, reasonable, and adequate.

What entities are eligible to file a claim?

Entities such as multiemployer welfare arrangements (MEWAs), Associations, and Taft Hartley Plans are also eligible to file a claim. BCBS Medical, dental, pharmacy, vision and stop-loss products are included. Enrollment only in a stand-alone vision or dental plan does not qualify for settlement consideration.

What is the phone number for settlement?

In addition, there is a settlement customer service line, (888) 681-1142, that employers or individuals may use to speak to a representative ...

Is a BCBS employee a class member?

Answer: Both employers (i.e. plan sponsors), and employees (but not dependents) covered under group health plans, as well as individuals purchasing BCBS insurance directly, are class members if they purchased or were enrolled in:

What is the Blue Cross Blue Shield case?

The case was filed by a group of individuals and companies who purchased or received health insurance from a Blue Cross Blue Shield company and claim that the defendants—Blue Cross Blue Shield Association and a slew of individual Blue plans—agreed not to compete with each other in selling health insurance and administrative services. According to the lawsuit, the defendants’ alleged anticompetitive conduct caused subscribers and enrollees to pay more for insurance or administrative services than they otherwise would have paid.

Who Is Covered by the Settlement?

The settlement covers individuals and insured groups (and their employees) who purchased or were enrolled in a Blue Cross or Blue Shield health insurance or administrative services plan between February 7, 2008 and October 16, 2020.

How Much Can I Get from the Settlement?

Those who submit valid claims are eligible to receive a cash payment from the approximately $1.9 billion net settlement fund. The amount of the payment will depend on, among other factors, the amount of premiums or administrative fees you paid and the number of valid claims that are filed.

What is classaction.org?

ClassAction.org is a group of online professionals (designers, developers and writers) with years of experience in the legal industry.

How much is the net settlement fund?

Those who submit valid claims are eligible to receive a cash payment from the approximately $1.9 billion net settlement fund. The amount of the payment will depend on, among other factors, the amount of premiums or administrative fees you paid and the number of valid claims that are filed.

Is the Blue Cross Blue Shield settlement a scam?

First off, the settlement is not a scam. It’s the result of a class action antitrust lawsuit called In re: Blue Cross Blue Shield Antitrust Litigation MDL 2406 and you can find the court-approved website for it here.

Introduction

Background

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 cho...

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Damages Classes

Options For Damage Class Members

What Can/Should Employers do?

Next Steps

Conclusion