Almost two years ago, the parties in Blue Cross Blue Shield Antitrust Litigation MDL 2406, N.D. Ala., No. 2:13-cv-20000-RD, reached a preliminary settlement and the court has recently conditionally approved that settlement.
In this litigation, plaintiffs claimed that the defendants breached antitrust laws by agreeing not to compete with each other in the sale of health insurance. Defendants have denied any wrongdoing and have agreed to pay $2.67 billion to the settlement fund.
Individuals that may be entitled to settlement include those that were covered by certain Blue Cross Blue Shield plans. Specifically, self-funded plans that were purchased or enrolled between September 1, 2015, through October 16, 2020, and insured plans that were purchased or enrolled between February 7, 2008, through October 16, 2020.
To receive payment from the net settlement, individual claims were required to be submitted by November 5, 2021. The net settlement, after deducting attorneys’ fees, expenses and costs is estimated at $1.9 billion, this amount will be distributed among approximately 6 million claimants. Claim determination notices are being sent out on a rolling basis. Claimants can monitor this website, Blue Cross Blue Shield Settlement, for updates. If a claimant disputes the settlement amount, the individual must follow the instructions in the notice to object.
It is important to note that individuals will not receive full reimbursement claim submitted. Settlement amounts are determined based on claims filed, premiums paid and if the insurance was fully insured or self-funded.
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