Blue Cross Blue Shield $2B Settlement: How to Claim Your Payment
Summary
Blue Cross Blue Shield is paying nearly $2 billion to people and businesses after a lawsuit said it limited competition and raised insurance costs. Payments will go to those who filed claims on time for coverage between 2008 and 2020, with distributions starting soon.Key Facts
- The settlement is worth about $2.7 billion total, with $2 billion for eligible claimants.
- It comes from a lawsuit accusing Blue Cross Blue Shield of reducing competition among its insurers.
- The company denied wrongdoing but agreed to settle to avoid ongoing legal costs.
- About 115 million Americans have had Blue Cross Blue Shield coverage in recent years.
- Only those who filed claims by November 5, 2021, qualify for payment.
- Eligible claimants had insurance between February 7, 2008, and October 16, 2020.
- Payments will be sent soon to those whose claims were approved; most do not need to take further action now.
- The case may lead to changes in how health insurers set prices and compete in the future.
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