Blue Cross Blue Shield to start sending out $2.6B class action settlement checks

• Blue Cross Blue Shield will soon start sending out checks as part of a class action lawsuit settlement. The lawsuit claimed the insurer broke antitrust laws.
• The settlement impacts people covered under certain BCBS plans between 2008 and 2020.
• While the average payment is around $300, the insurer won’t send some checks at all.

Full Story

About six million people are about to get payments from Blue Cross Blue Shield after waiting more than two years. The health insurer will send notices of payment from a $2.67 billion class action lawsuit settlement from 2022 on a rolling basis.

The suit claimed more than 35 BCBS health insurance plans violated antitrust laws by agreeing not to compete with each other, limiting competition in the health insurance market.

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BCBS said the settlement is not an admission of wrongdoing, rather a way to “avoid the risk and cost of further litigation.”

Who’s getting a check?

The insurer will send payments to subscribers who were part of certain BCBS plans between February 2008 and October 2020 and filed a claim by Nov. 5, 2021.

Payment amounts vary based on how many valid claims a person filed, the premiums paid during that time period and whether a person’s insurance was fully insured or self-funded.

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How much will they get?

After more than $600 million in attorneys fees were deducted from the settlement, the average check will be around $300.

Anyone whose payment would be $5 or less won’t be getting a check.