The federal court resolved BCBS’s class action settlement appeal on June 24, 2024. The class members who have filed the claim form before the deadline have been waiting for the payout for a long time. Let’s understand when you expect your payment as the appeal is resolved.
Blue Cross Blue Shield Class Action Lawsuit Payout Date
The Blue Cross Blue Shield class action settlement claim process ended on 05 November 2021; however, the payment was delayed till now due to the multiple appeals filed on the court decision. The appeal for the final approval of the BCBS class action lawsuit was resolved a year ago.
The settlement administrator has still not processed the payment for the valid claimants. According to the settlement website update, the administrator is reviewing the claims and sending claim determination emails or postcards to the class members who have filed the claim form.
The claim determination notice will have the premium paid, and other information that you can check, and if you disagree with the information, you can challenge it. For now, the administrator has not updated the payout date for the $2.67 billion settlement; when the payment distribution begins, class members can expect the update on the official website.
Reviewing the claims and distribution of payment can take time, but based on the timeline so far, you can expect the payment by the end of 2025.
What is the BCBS class action lawsuit about?
The lawsuit against the BCBS was filed, alleging that the company has violated the antitrust laws as it enters into agreements with other health insurance companies not to compete with each other in selling health insurance products, and its administration in the US and Puerto Rico.
The agreement not to compete has created problems for consumers as it ends the competition and brings confusion in selecting one, or the consumers have to pay higher costs. The defendants say they entered into such an agreement to lower the healthcare costs and expand access to healthcare.
BCBS has not agreed to any wrongdoing, but proposed to settle the lawsuit for $2.67 billion to compensate the users and people who suffered inconvenience due to the defendant’s practice.
How much will you receive under the BCBS payout?
According to the settlement agreement of the BCBS class action lawsuit, the administrator will first use the $2.67 billion settlement fund for the administration expenses, service awards, litigation costs, and attorneys’ fees & costs, then the rest will be used for the compensation.
The agreement states that the net settlement fund for the compensation will be $1.9 billion. The payment for each claimant will be based on the category, such as:
- $1.78 billion for insured groups and individuals
- $120 million for self-funded accounts and their employees
If the valid claimant’s settlement payment is $5 or less, no settlement payout will be processed for you. The administrator will calculate the payment for each claimant depending on the number of claimants and other factors, so you should check your payment once it is processed.
How to check the BCBS claim status?
If you are not sure whether you will receive the BCBS settlement payout or not, you can check the claim status on the official website or reach out to the administrator in the following ways:
- Online:
- Visit the official BCBS settlement website at https://www.bcbssettlement.com
- Next, in the menu section, you should click the “I would like to” section and click the Claim Status option.
- Now, you have to input your claim number or unique ID on the next page.
- After you submit your respective number or ID, your BCBS claim status will appear on your screen.
- Offline: You can call the BCBS settlement administrator through the helpline number (888) 681-1142 or email your question to info@BCBSsettlement.com.
The BCBS settlement payout will be sent to the valid claimant through Venmo, PayPal, check, or prepaid Card. So, if your payment method information is changed, you should contact the administrator immediately to receive the payment on time and through the right source; otherwise, you might lose your payment.
The BCBS settlement payout date update is yet to be out, hence we advised the claimants to stay tuned or regularly check the settlement website to stay updated about the payout distribution.
i got the postcard but it has disappeared. i get the e-mail?