Is the Blue Cross Blue Shield $2.67B Settlement Real?
For businesses, labor costs are a huge part of expenses and if you have more than 50 employees you are required, under the Affordable Care Act (ACA), to provide health insurance or pay a penalty to the IRS. Now, if you are required to provide health insurance, why are there so few providers and how has the cost of health insurance doubled in the last decade without much explanation?
In 2013, a class action lawsuit was filed alleging Blue Cross Blue Shield (BCBS) violated antitrust laws by entering into an agreement where the Defendants agreed not to compete with each other in selling health insurance. Given BCBS companies hold almost 50% of market share on ACA marketplaces and about a third of the overall health care market, it is important to hold them accountable for any abuses of power. BCBS was not proven guilty and settled for $2.67B; businesses qualify for the largest share of the settlement, but eligible individuals can also receive payment.
Typically, businesses spend thousands of dollars per employee on healthcare costs every year and with a twelve-year class period they deserve to be compensated. We want to maximize your recovery and are here to manage the claim filing process. You can file on your own here: https://www.bcbssettlement.com/ but thousands of our clients know their time is better spent on their core business. Please fill out our form to learn how Mitena Partners can help you with this settlement and others. https://mitenapartners.com/ccc-client-employee-form