Blue Cross Blue Shield Settlement: Everything You Need To Know
If you purchased or were enrolled in a Blue Cross or Blue Shield health insurance plan between 2008 and 2020, you may be entitled to a refund based on a $2.67 billion Blue Cross Blue Shield Settlement.
How Did This Happen?
Foremost, on November 30, 2020, the Honorable R. David Proctor of the U.S. District Court for the Northern District of Alabama granted preliminary approval of a class action Settlement against Blue Cross Blue Shield. For more information on the details of the order, please visit www.BCBSsettlement.com
What Is the Lawsuit About?
Additionally, plaintiffs claim that the Blue Cross Blue Shield Association and Settling Individual Blue Plans violated antitrust laws that protect consumers from monopolies and price gouging. The suit claims that these entities entered into an agreement not to compete with each other, which resulted in higher health care prices for businesses and consumers. The defendants in the lawsuit deny all claims, and state that their conduct results in lower healthcare costs and greater access to care for their customers. The Court has not decided yet who is right.
Who Is Affected By The Suit?
Furthermore, you may be eligible to receive a payment if you are an Individual, Insured Group or Self-Funded Account that purchased or were enrolled in a Blue Cross or Blue Shield health insurance during one of the two Settlement Class Periods. The Settlement Class Period for Individuals and Insured Groups is from February 7, 2008, through October 16, 2020. The Settlement Class Period for Self-Funded Accounts is from September 1, 2015, through October 16, 2020.
If you purchased insurance for yourself or employees during this period, you may be eligible for a payment. If you think you might be eligible, please contact us today and we can help you file the necessary paperwork to claim what is rightfully yours.
How Much Can You Make From The Settlement?
People who submit and prove valid claims could receive payment as a portion of the total settlement fund. 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?
You must submit a valid claim no later than November 5, 2021, in order to be considered. We are helping our clients properly complete the paperwork to submit claims. Need help filing? Contact us today!
So, What’s Next?
If you believe that you or your business qualifies for a payment from the settlement, contact us today. We will complete the following steps on your behalf and make things simple for you…
- Gather the necessary documentation for your claim
- Prepare your claim
- Make sure your valid claim is submitted before the deadline
- Track the progress of your claim to ensure you are paid
Interested in learning more? Contact us today!