The Blue Cross Blue Shield Lawsuit is about the violation of the antitrust laws by limiting competition in the health insurance market. Many eligible claimants are waiting for the payout of this settlement which are late because of legal challenges and appeals. All the appeals and challenges have now been resolved and claimants can expect their payout in mid 2025.
From the total payout amount of $2.67 billion, $1.9 billion will be used to pay administrative cost and other legal fees, $1.78 billion will be distributed among Individuals and Insured Groups, and Self-Funded Accounts members and their employees will receive their portion from the allocated fund of $120 million.
Blue Cross Blue Shield Lawsuit Payout
The Blue Cross Blue Shield Lawsuit Payout is highly awaited by those who have filed claim form. This lawsuit began in 2013 against the 35 Blue Cross Blue Shield health insurance plans and main allegation includes that the company has violated the antitrust laws by limiting competition in the health insurance market.
This settlement is based on one of the largest class action payouts in U.S. history which is $2.67 billion. Blue Cross Blue Shield will shortly start disbursing $2.67 billion to consumers after a protracted legal battle that claimed the massive health insurance company violated antitrust laws.
Despite denying any wrongdoing, BCBS agreed to pay a settlement fund to resolve the lawsuit. The payout process has faced several delays due to legal appeals. The final legal challenge was resolved by the Eleventh Circuit Court of Appeals on January 26, 2024, and the US the Supreme Court denied further appeals on June 24, 2024. Now, people can anticipate the payout of this settlement soon expected to be in mid 2025.
When will Blue Cross Blue Shield Lawsuit Payout come?
As all the legal challenges are now resolved, the settlement payout will soon be distributed among qualifying claimants who have filed their claim forms by the deadline of 5 November 2021. According to the updates of the official website, the claim notices are being rolled out on a rolling basis through emails to class members with valid claims.
Each class member including individuals, insured groups and self-funded accounts who have BCBS health insurance plan between class periods will receive payout of this settlement. The settlement fund will be distributed among 6 million people who have filed claim forms. The claim form status is available at the official website under the tab “I Would Like To” with the “Check My Claim Status” button.
The status can be checked through entering the claim number and unique ID. The status will help you to determine whether you can expect payout of BCBS settlement or not. Staying connected with the official website can be beneficial to get updated information about settlement payout arrival.
Who is entitled to receive Blue Cross Blue Shield Lawsuit Payout?
The eligibility criteria of any settlement helps interested individuals to find out whether they can participate in the class action to get payout or not. Below given eligibility criteria also determines the eligible people for Blue Cross Blue Shield Lawsuit Payout.
- This settlement targets those individuals who are covered by certain Blue Cross Blue Shield health insurance or administrative services plans between February 2008 and October 2020.
- The qualifying class period for individuals and insured groups is from February 7, 2008, through October 16, 2020 while for Self-Funded Accounts, the eligible class period runs between September 1, 2015 through October 16, 2020.
- Qualifying people are those who have filed valid claim forms by the deadline of 5 November 2021.
- Those who have excluded themselves from the class action are also eligible for payout.
How much will be Blue Cross Blue Shield Lawsuit Per Person Payout?
The payout of Blue Cross Blue Shield Lawsuit will be distributed among qualifying individuals, insured groups and self-funded accounts members after the deductions of attorneys’ fees, administration expenses and other costs from the allocated $1.9 billion Settlement Fund.
The per person payout will be based on many factors including the number of filed valid claims, the premiums paid to one or more of the Settling Defendants during the class period, and whether their insurance was fully insured or self-funded.
Almost $1.78 billion will be distributed among Individuals, Insured Groups, and their employees while $120 million fund is available for Self-Funded Accounts and their employees. If the total payment for any claimant is equal to or less than $5.00, then they will not receive any payment from the settlement fund.