Blue Cross Blue Shield is set to begin distributing $2.67 billion to customers following a years-long lawsuit. The suit alleged the health insurance giant violated antitrust laws.
The litigation started in 2013 with a class-action lawsuit filed against over 35 Blue Cross Blue Shield health insurance plans. The lawsuit claimed the company limited market competition, which led to higher premiums and fewer customer options.
Blue Cross Blue Shield has consistently denied these claims. Although a final verdict wasn’t reached, the case was settled. Blue Cross Blue Shield did not immediately respond to USA TODAY’s request for comment on Tuesday.
Here’s what to know about the settlement payments: who’s eligible, the expected payment amounts, and when the payments will be issued.
Who Is Eligible?
To be eligible for a Blue Cross Blue Shield settlement payment, customers had to file a claim by November 5, 2021. If a customer was eligible but missed the deadline, they won’t receive a payment.
Individuals covered by Blue Cross Blue Shield between February 2008 and October 2020 may have been eligible.
The settlement includes two classes: Individual and Insured Group, and Self-Funded Account. Individuals and Insured Groups who were customers between February 7, 2008, and October 16, 2020, may have been eligible for a payment, while Self-Funded Accounts who were customers between September 1, 2015, and October 16, 2020, may have been eligible.
How Much Are the Settlement Payments?
Around six million claims were filed by the November 2021 deadline. Consequently, payouts are expected to be approximately $333 per claim.
Though Blue Cross Blue Shield agreed to a $2.67 billion settlement fund, only $1.9 billion remains available for payout after deducting attorney fees, administrative expenses, and other costs, according to the Blue Cross Blue Shield Settlement website.
When Will Payments Be Issued?
Claim notifications are being emailed to customers on a “rolling basis,” according to the Blue Cross Blue Shield Settlement website.
Greta Cross is a national trending reporter at USA TODAY. This article originally appeared on USA TODAY.
