Blue Cross Blue Shield (BCBS) is set to distribute payments to approximately six million people who are part of a class action lawsuit settlement worth $2.67 billion. The lawsuit alleged that over 35 BCBS health insurance plans violated antitrust laws by colluding against competition. Although BCBS denies any wrongdoing, they opted for a settlement to mitigate litigation costs. Eligible recipients must have submitted their claims by November 5, 2021. Payment amounts will vary based on several factors, including the number of claims filed and the premiums paid during specific class periods.
After deducting attorney's fees and administrative costs, the net settlement fund is worth approximately $1.9 billion, which will be distributed across roughly 6 million claimants.
Individual payment amounts are determined based on the number of valid claims that are filed, the premiums paid during the Settlement Class Period.
Collection
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