BCBS Class Action

Blue Cross Blue Shield Antitrust Litigation MDL 2406

What Is This BCBS Antitrust Settlement About?

Plaintiffs allege that Blue Cross Blue Shield (BCBS) violated antitrust laws by colluding with other insurers to stifle competition in the health insurance marketplace in the United States and Puerto Rico from 2008-2020. BCBS has denied the allegations but has settled the case for $2.67 Billion.

Who Qualifies?

If you were covered by certain Blue Cross Blue Shield health insurance or administrative services plans between February 2008 and October 2020, you may be a Class Member.

You may be eligible to receive payment if you are an Individual, Insured Group (and their employees) or Self-Funded Account (and their employees) that purchased or were enrolled in a Blue Cross or Blue Shield health insurance or administrative services plan during one of the two Settlement Class Periods. Government accounts are excluded from the Class. Medicare Advantage policies are not within the scope of products included in the Settlement classes.

The Settlement Class Period for Individuals and Insured Groups is from February 7, 2008, through October 16, 2020. The Settlement Class Period for Self-Funded Accounts is from September 1, 2015 through October 16, 2020.

*** Insured Groups include both employers and other groups (e.g., Taft-Hartley plans, multi-employer welfare arrangements, association health plans, retiree groups, and other non-employer groups.

Self-Funded Accounts include both employers and other groups (e.g., Taft-Hartley plans, multi-employer welfare arrangements, association health plans, retiree groups, and other non-employer groups).

What Does the Settlement Provide?

Monetary Damages: 93.5% of the Net Settlement Fund (approximately $1.78 billion) will be allocated to the Fully Insured (FI) Class Members as a “FI Net Settlement Fund.” The FI Net Settlement Fund will be distributed to FI Authorized Claimants, which include:
o Individuals (“FI Individual Policyholders”);
o Insured Groups (“FI Groups”); and
o Insured Group Employees (“FI Employees”) who submit a valid claim by November 5, 2021.

The remaining 6.5% of the Net Settlement Fund (approximately $120 million) will be set up as a “SelfFunded Net Settlement Fund.” The Self-Funded Net Settlement Fund will be distributed to SelfFunded Authorized Claimants, which include:
o Self-Funded Accounts (“Self-Funded Groups”); and
o Self-Funded Account Employees (“Self-Funded Employees”)
who submit a valid claim by November 5, 2021.

Injunctive Relief: Settling Defendants have agreed to make changes in the way they do business that will increase the opportunities for competition in the market for health insurance. As part of the Injunctive Relief (the changes in the way the Settling Defendants do business), a Monitoring Committee will be established for five years to mediate any disputes resulting from the implementation of the Injunctive Relief.

How Large Is the Class?

The population in the U.S. has peaked 325 million people and with an average annual healthcare premium cost of over $10,000, the U.S. healthcare market is astronomical. BCBS dominates more than a third of that market in all fifty states which goes to show the class is in the tens of millions. Moreover, both employers and employees qualify as class members, so the class only grows when you account for businesses that are no longer around.

How Do I Know if I Qualify?

If you were covered by certain Blue Cross Blue Shield health insurance or administrative services plans between February 2008 and October 2020, you may be a Class Member. Reach out to CCC if you think you had BCBS at any point from 2008-2020 and we can determine your eligibility after a brief meeting.

Is There an Official Claim Website?

To review the $2.67B BCBS settlement, check out the website: https://www.bcbssettlement.com/ and note you can independently file a claim for yourself as an individual and for your business by the claim filing deadline of November 5, 2021.

However, our firm believes your time is best spent focusing on your clients and we are here to make sure you never miss a claim again.

Is It Worth My Time?

We typically spend 15-30 minutes with a client on a discovery call where we collect any details we feel are pertinent to filing your claim. If you have more than 50 employees, you are required by law to offer health insurance or pay a fine to the IRS. The annual cost can surge into the hundreds of thousands of dollars and we want to make sure we maximize your claim, so yes, it is worth your time.

What We Do

CCC can help you participate in the $2.67B Blue Cross Blue Shield Antitrust Settlement and when you sign up for our service we will:

Evaluate your Blue Cross Blue Shield plan to determine settlement eligibility.
Collect any supporting documentation and file your claim.
Monitor the claims review process and if a deficiency arises, we work with the administrator to ensure claims are perfected with supporting documentation.
Our quantitative team is working to predict the recovery a business can expect and when we reach a projected recovery, we will offer to purchase your claim. Selling your claim to our firm helps you avoid potentially waiting 8 months or longer for your payment.

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