The Blue Cross Blue Shield settlement appeal was finally resolved last year after the settlement got the approval two years ago. The class members with valid claims are currently awaiting the payout from the established settlement fund of $2.67 billion.
According to the settlement agreement, the settlement administrator will start the payment distribution as soon as the settlement becomes effective within 30 days. However, due to the appeal being resolved, now the claimants can expect the payout in mid-2025 or in the third quarter of the year.
The BCBS antitrust settlement involved the defendant’s practice of not competing with health insurance and administration selling in Puerto Rico and the United States. The reports suggest that around 6 billion subscribers will receive the settlement payout if they have filed a valid claim.
| Settlement | Blue Cross Blue Shield Settlement |
| Settlement Fund | $2.67 billion |
| Who qualifies? | People who bought the administrative services or BCBS health insurance during the class period |
| Class Period | Insured Groups and individuals: Feb 07, 2008, to Oct 16, 2020Self-funded accounts and staff: Sep 01, 2015, to Oct 16, 2020 |
| Avg. Payout | $333 |
| Payment Expected | By Mid-2025 |
| Settlement Website | https://www.bcbssettlement.com/ |
Settlement Payout per person
The settlement class members will receive the payout from the net settlement fund, which will be determined after the administration deducts the settlement expenses, attorney fees & costs, service awards, and other expenses. The administration estimates that the net settlement sum will be around $1.9 billion for the compensation.
The class members with approved claims will receive the payout from this fund, where the $1.78 billion fund will be used to compensate insured groups (including their employees) and individual claimants, and a total of $120 million was established for self-funded accounts and their staff.
If the final payment of the claimant is $5 or less $5, they will not receive any payout. So the claimants whose total payment is above the limit can expect the payment based on the services or health insurance plan of BCBS that they purchased. According to the reports, the individuals or class members with approved claims can expect a payout of up to $333.
Who will receive it?
The class members of the BCBS settlement who meet the following eligibility conditions will receive the following payout:
- Those who purchased administrative services or BCBS health insurance between February 2008 and October 2020 were considered class members.
- You bought or signed up for the BCBS health insurance or administrative services as an insured group, individual, or self-funded account during one of the class periods mentioned above.
- The settlement payout will be given to class members who submitted a claim on or before November 5, 2021.
Payment Mode
The BCBS settlement administrator will process the settlement payout based on the payment mode they have elected in the claim form. The following payment method will be used by the administration to process the BCBS settlement payments for the valid claimants:
- Venmo by Username
- Virtual Prepaid Card
- Physical Check
- PayPal by Email
The class members who have experienced any change in their payment mode information in these two years of interval should update the information in the claim via email to [email protected], phone call at (888) 681-1142, or post the update to the BCBS settlement administration postal address.
BCBS has also promised to make modifications to its business strategies and business operations to boost the competition in the health insurance market and ensure that consumers have many options to purchase the best plan as per their requirements. The defendant will create a monitoring committee to mediate any issue or dispute after implementing the injustice relief.
How to check claim status?
The BCBS settlement members who have claimed the settlement by 05 November 2021 can check their claim status to get assurance that they will receive the payout:
- Click the official BCBS settlement website mentioned in the table above.
- You should click the “I would like to” and click the Check my Claim Status option.
- Next, you should enter the Claim Number or Unique ID in the box.
- Once you enter the ID or number, click the submit button to see the claim status on your screen.
The BCBS claimants with approved claims will receive the upcoming payout only when their payment is above $5; hence, do check the status, and if you have any changes to make in the claim information, then do it before the administrator starts the payment distribution.
The claimants can check the settlement website regularly, as the administration will share an update about the BCBS $2.67 settlement fund compensation distribution.