Overview
Plaintiffs claim that Settling Defendants violated antitrust laws by entering into an agreement not to compete with each other in selling health insurance and administration of Commercial Health Benefit Products in the United States and Puerto Rico, as well as agreeing to other means of limiting competition in the market for health insurance and administration of Commercial Health Benefit Products.
The settlement includes net proceeds (after covering legal and administrative fees) of approximately $1.78 billion for eligible fully insured plans, and approximately $120 million for self-funded groups.
Eligible Individuals, Insured Groups and Self-Funded Groups will also benefit from changes by the Settling Defendants to make their practices more competitive.
Class
Individuals, Insured Groups (including both employers and other groups), and Self-Funded Accounts (including both employers and other groups), that purchased, were covered by, or were enrolled in a Blue Branded Commercial Health Benefit Product sold, underwritten, insured, administered or issued by a Settling Individual Blue Cross Blue Shield Member Plan during one of the two relevant Class Periods. Government accounts, dependents, beneficiaries (including minors) and non-employees are not included in the settlement class.
Settlement Period
February 7, 2008 through October 16, 2020: Fully Insured Groups
September 1, 2015 through October 16, 2020: Self-Funded Accounts
Defendants
Blue Cross Blue Shield Association (BCBSA)
Settling Individual Blue Cross Blue Shield Member Plans
Settlements:
$2.67 Billion ($1.78 Billion Fully-Insured and $120 Million Self-Funded)
Filing Deadline: November 5, 2021
To learn more about this settlement and how SRG can help you in the recovery process, please contact us: