On August 9, 2022, the Court approved the Settlement finalistically. The Eleventh Circuit Court of Appeals refused an appeal of its October 25, 2023 ruling endorsing ratification of the Settlement Agreement on January 26, 2024. An appeal caused the BCBS Settlement Payout Date to be delayed; ultimately, in June 2024 the USSC settled the matter.
BCBS Settlement Payout Date
Reached on behalf of people and businesses purchasing or receiving health insurance supplied or managed, BCBS Antitrust Litigation MDL 2406, Class Representatives (“Plaintiffs”), negotiated With the BCBSA, and Settling Individual Blue Plans, achieved a Settlement on October 16, 2020 Settlement Defendants include BCBSA and Settling Individual Blue Plans.
The Eleventh Circuit Court of Appeals ruling upholding approval of the Settlement Agreement was refused an appeal by the US Supreme Court on June 24, 2024. Every appeal is approved. Emails on claim decision notifications are sent rolling forward.
BCBS Settlement Payout Amount
By signing a contract not to compete with each other and to restrict competition among themselves in providing health insurance and administrative services for health insurance, plaintiffs claim Settling Defendants broke antitrust statutes.
Denying all claims of impropriety, settling defendants say their behavior lowers healthcare costs and increases consumer access to treatment.
The Court has not rendered a decision about right or wrong. Rather, to save the danger and expenses of future litigation, plaintiffs and settling defendants have decided on a settlement. Those who timely submitted the claim will be paid from the net settlement money individually.
Many elements determine the individual’s settlement amount, including several legitimate claims, health insurance plan premiums paid, and whether your insurance is self-funded or completely covered.
If the Court approves, the Settlement would finance $2.67 billion. Settling defendants will also agree to conduct business in the manner plaintiffs feel would boost the chances for competition in the health insurance market.
How do you check your BCBS Settlement Claim Status?
The BCBS class action settlement may verify the claim status to ascertain whether their claim is granted or not and if they will get the compensation or not in the next actions:
- The BCBS subscriber settlement website may be accessed at https://www.bcbssettlement.com/.
- You should then visit the “I Would Like To” page and select “Check my claim status.”
- You should fill the provided box on the following page with your Claim Number or Unique ID.
- Your BCBS settlement claim status is also shown after you click the Submit button.
Who will receive the BCBS Settlement Payout?
The BCBS settlement agreement states that individuals fulfilling the following qualifying requirements are entitled to the payout:
- During the class term, you have to have BCBS or an administrative services plan of health insurance coverage.
- While for individuals and insured groups, the class period is February 2008 and October 2020, the class period for the self-funded accounts is 01 Sep 2015 and 16 Oct 2020, if they have acquired Blue Shield health insurance or administrative services. You have a self-funded account or are from an insured group or individuals who bought the insurance plan or administrative services.
- Those who before the deadline, November 05, 2021, sent in their BCBS compensation claim form.
- The beneficiaries (minors), non-employees, and dependents—non-qualifying for the settlement.
- Those who, via the settlement exclusion form, have excluded themselves from the BCBS settlement.
What happens if I do nothing at all for BCBS Settlement?
You remained a member of the Settlement Classes and bound by the Settlement if you did nothing. Nevertheless, you will not be paid if you have been entitled to participate in the Settlement funds. You stay in the Settlement Classes but you omit yourself.
You cannot therefore litigate, keep suing, or participate in any other litigation against Settling Defendants that claims based on the facts and legal theories engaged in this case or any of the business practices the Settling Defendants adopt according to the Settlement Agreement.
It also implies that you will be legally bound and that every Court order will apply to you. The Settlement Agreement lists the Released Claims in great detail.