Blue Cross Blue Shield Antitrust Settlement
In 2013, a national class of subscribers filed a lawsuit against Blue Cross Blue Shield Association (BCBSA) alleging that BCBSA entities throughout the country entered into agreements not to compete with each other for health insurance customers. In late 2020, BCBSA announced a proposed settlement of this class action antitrust litigation.
The proposed settlement is $2.67 billion. After expenses, the net settlement fund is estimated to be approximately $1.9 billion. Approximately 93.5% of the net settlement fund will be paid to fully insured groups (including employees) and individual policyholders that had coverage with BCBSA (e.g., Anthem) between February 7, 2008 and October 16, 2020. The remaining 6.5% of the net settlement fund will be paid to self-funded groups (including employees) that worked with BCBSA between September 1, 2015 and October 16, 2020.
The settlement website is www.bcbssettlement.com. Bose McKinney & Evans LLP is available to assist clients with filing a claim with the claims administrator.