$2.67B Settlement Payouts from Blue Cross Blue Shield: Millions of Americans could be entitled to compensation from the $2.67 billion Blue Cross Blue Shield (BCBS) settlement, following a class-action lawsuit that accused the insurer of engaging in anti-competitive practices. If you were enrolled in a BCBS health plan between 2008 and 2020, you might qualify for a payout.
Understanding the eligibility criteria, expected payment amounts, and key dates is essential for those affected. Here’s everything you need to know about the settlement, including how to check your claim status and when you can expect to receive your payment.
$2.67B Settlement Payouts from Blue Cross Blue Shield
| Topic | Details |
|---|---|
| Settlement Amount | $2.67 billion |
| Eligibility Period | February 7, 2008 – October 16, 2020 (insured members); September 1, 2015 – October 16, 2020 (self-funded accounts) |
| Exclusions | Government accounts were not eligible for the settlement. |
| Average Payment Amount | Approximately $333 per approved claim (may vary) |
| Final Approval Date | August 9, 2022 |
| Appeal Resolution Date | June 24, 2024 |
| Payment Status | Settlement administrator is currently sending claim determination notices via email. |
| Official Website | BCBS Settlement Website |
The $2.67 billion Blue Cross Blue Shield settlement is a major resolution aimed at compensating affected policyholders and promoting fairer competition in the health insurance industry. If you filed a claim, check your email for updates, review your claim determination notice, and prepare for your payout.
Why Did Blue Cross Blue Shield Settle for $2.67 Billion?
The lawsuit alleged that Blue Cross Blue Shield engaged in practices that restricted competition, leading to higher insurance premiums for policyholders. The lawsuit claimed that BCBS companies agreed not to compete with one another in certain geographic regions, limiting consumer choices and inflating healthcare costs.
To resolve these allegations, BCBS agreed to a $2.67 billion settlement and promised to make structural changes that promote fairer competition in the health insurance industry.
Who is Eligible for the BCBS Settlement Payout?
To qualify for a payment, you must have met all of the following criteria:
- You were enrolled in a BCBS health insurance or administrative services plan between:
- February 7, 2008, and October 16, 2020 (for individuals and insured groups)
- September 1, 2015, and October 16, 2020 (for self-funded accounts)
- You filed a claim by the deadline of November 5, 2021.
- You were not enrolled under a government policy, as government accounts were excluded.
If you missed the November 5, 2021 claim deadline, you are unfortunately not eligible to receive a payment from this settlement.
How Much Money Will You Receive?
The final payout per claim varies based on multiple factors, including:
- The number of valid claims submitted
- The total amount of premiums paid by each claimant
Estimated Payment Amounts
- Average payout per person: Approximately $333 per approved claim
- Higher payouts for those who paid higher premiums
- Lower payouts for those with minimal insurance expenses
Keep in mind that this is an estimate, and final payments may differ once all claims are processed.
When Will You Get Your Payment?
The settlement process is moving forward now that all appeals have been resolved as of June 24, 2024. Here’s what to expect next:
- Claim Determination Notices Sent (Ongoing):
- The settlement administrator is emailing claimants about the status of their claims.
- If you filed a claim, check your email inbox (including spam folders) for a message from
@bcbssettlement.com.
- Dispute Period (30 Days After Notice): If you disagree with your payment calculation, you have 30 days from the date of the notice to dispute it.
- Payments Begin After Disputes Are Resolved:
- Once the dispute resolution process is completed, payments will be distributed.
- Direct deposits or checks will be issued depending on your selected payment method during claim submission.
December SSI payment: Requirements to receive the extra with the 2025 COLA
Check Your Claim Status
If you filed a claim, follow these steps to check your status:
- Visit the official settlement website: BCBS Settlement Website
- Log in using your claim reference number (provided when you submitted your claim).
- Check your email for updates from the settlement administrator.
- Contact the settlement administrator at (888) 681-1142 if you need further assistance.
FAQs On $2.67B Settlement Payouts from Blue Cross Blue Shield
1. What if I missed the claim deadline?
- Unfortunately, if you did not file a claim by November 5, 2021, you cannot receive a settlement payment.
2. Can I still dispute my payment amount?
- Yes, if you received a claim determination notice, you have 30 days from the date of the notice to file a dispute.
3. How will I receive my payment?
- Payments will be issued via direct deposit or check, depending on what you selected when filing your claim.
4. What if I haven’t received any email updates?
- Check your spam or junk folder for emails from
@bcbssettlement.com. - Visit the settlement website to check your status.
- Contact the claims administrator at (888) 681-1142.
5. Are future lawsuits against Blue Cross Blue Shield expected?
- The settlement requires BCBS to make structural changes, but if issues persist, future legal actions could arise.
