Blue Cross Blue Shield will soon start sending payments to millions of Americans from its $2.67 billion fund in what is one of the largest antitrust settlements in the US healthcare industry.
Eligible customers who previously used Blue Cross Blue Shield for their health insurance should start receiving payments next month, according to the settlement website.
The 2013 antitrust lawsuit alleged BCBS companies made backdoor deals not to compete with each other to limit competition and drive up insurance costs.
The insurance giant has denied all allegations of wrongdoing.
In 2020, a federal judge in Alabama approved the massive settlement fund, which includes $1.9 billion after legal fees and expenses for subscribers in the settlement class.
Individual payment amounts will vary based on the type of coverage and the premiums paid by customers.
About 6 million claims have been submitted nationwide. To receive the settlement payments, eligible claimants needed to file before a November 2021 deadline.
Blue Cross Blue Shield is currently reviewing claims and sending notices to claimants via email and postcards on a rolling basis, according to the settlement website. It started sending notices in February.
If claimants receive an email or postcard from the insurance company, they need to follow the instructions included within to eventually receive their payout.
The settlement class covers customers with BCBS insurance plans between Feb. 8, 2008, and Oct. 16, 2020.
It also includes providers enrolled in administrative services plans who served patients between July 24, 2008, and Oct. 4, 2024. Providers needed to submit claims by July 29, 2025.
As part of the settlement, Blue Cross Blue Shield also vowed to change its business practices to increase opportunities for competition.
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