The Blue Cross Blue Shield class action antitrust lawsuit received the final approval two and half years ago. However, due to the appeal against the settlement, the settlement payout was stopped and the claimants did not receive the payment.
Last year, the Eleventh Circuit Court denied the appeal and approved the settlement agreement resolving the appeals. The Blue Cross Blue Shield class members who have claimed the settlement can expect the payment soon as the administrator may release the check soon.
Blue Cross Blue Shield Settlement Checks
The plaintiffs filed the lawsuit against Blue Cross Blue Shield Settlement in 2013 alleging the defendant has violated the antitrust laws. As per the lawsuit, the plaintiff has entered into an agreement to not compete in selling health insurance with others reducing the competition.
Such practice of the defendant reduces the competition in the market and increases the problem for the customers with a higher cost of health insurance. The class action lawsuit was settled with the $2.67 settlement fund and the court gave the approval on 09 August 2022.
As we mentioned earlier, due to the appeal the compensation payout was halted, however, last year the Eleventh Circuit Court resolved the appeals, and now the claimants await the settlement payout. According to the latest reports, the funds are finally going to be distributed to about 6 million subscribers who claimed the settlement.
The latest updates suggest the settlement administrator is all set to distribute the BCBS settlement checks to the eligible claimants including the Southeastern Pennsylvania residents in the first quarter of 2025.
Who is entitled to receive the Blue Cross Blue Shield Settlement Checks?
According to the BCBS settlement agreement, the BCBS subscribers who meet the following eligibility conditions will receive the upcoming payout:
- People who have covered any 35 BCBS health insurance or administrative services plans of the company between the class period, February 2008 and October 2020.
- You are an insured group, individual, or self-funded account who purchased the BCBS health insurance or health administrative services plans or enrolled in a plan during the class period;
- The class period for the insurance group and individual is from 07 Feb 2008 to 16 Oct 2020, whereas for the self-funded accounts group, it is from 01 Sep 2015 to 16 Oct 2020.
- The class members who have filed the claim form before 05 November 2021 and never excluded themselves from the settlement.
How much the claimants can receive through Blue Cross Blue Shield?
According to the settlement agreement, the class members would receive the compensation payout from the net settlement fund, which is determined after the administrator deducts the administrative expenses, attorney’s fees, and other settlement costs from the $2.67 billion settlement fund.
The settlement administration estimates that the net settlement fund of the Blue Cross Blue Shield settlement is $1.9 billion. The payment amount per person may differ as it depends on several factors, such as the number of valid claims, premiums you paid for the BCBS health insurance plan during the class period, or whether your insurance was self-funded or fully insured.
According to the settlement agreement, from the $1.9 billion fund, the $1.78 billion fund would be used to compensate individuals, insured groups, and their employees, whereas the $120 million fund would be used to compensate the self-funded accounts and their workers.
As per the latest update, the class members with valid claims can expect the physical check of an average payment of $300 through the BCBS settlement. The class members should know if their settlement payout is $5 or less will not receive the payout.
What to do if your address is changed to receive the BCBS settlement payout?
It’s been more than two years since the Blue Cross Blue Shield settlement was approved and the class members have filed the settlement. So class members who have selected to receive the payout through physical check should ensure their mailing address is correct.
If you have changed your address in these two years, you should inform the settlement administrator immediately before they start the distribution of the payouts through a physical check, otherwise, you will miss the payment.
To report the address change, you can contact the BCBS settlement administrator through a toll-free number at (888) 681 1142 or you can write an email at [email protected].
Blue Cross Blue Shield Settlement Other Payment Method
The Blue Cross Blue Shield settlement has various payout methods for the class members and they will receive the payout through their selected method. As per the BCBS settlement claim form, the class members could receive the compensation payout through the following payment method other than a physical check:
- PayPal
- Venmo
- Prepaid Card
The class members whose payment method information has changed in these two years should immediately inform the settlement administrator to receive the payment on time whenever the administrator begins the distribution.
Apart from the monetary benefit, the defendants have also promised to improve their business practices and bring needed changes to increase the competition in the health insurance market. The defendant will establish a five-year monitoring committee to ensure the injunctive relief is implemented and resolve any dispute.
The BCBS settlement class members who have filed the claim and have been waiting for the settlement payout for more than two years can expect the payment soon in Feb/ March 2025. The class members should be ready to check their account, or mailed to receive the long-due BCBS settlement payout.