Blue Cross Blue Shield to begin $2.67 billion settlement payments
Blue Cross Blue Shield will start making payments from a $2.67 billion settlement to eligible former customers who filed valid claims.Summary
Blue Cross Blue Shield is set to begin distributing payments from a $2.67 billion class action lawsuit settlement to eligible former customers. The lawsuit, filed in 2013, alleged that the company violated antitrust laws by limiting competition among its 35 health insurance plans. While Blue Cross Blue Shield has denied any wrongdoing, it agreed to settle to avoid further litigation costs. The settlement website indicates that payments will begin as early as next week, but only those who filed valid claims by the November 2021 deadline are eligible. The total settlement fund is $2.67 billion, with an estimated $1.9 billion available for payouts after deducting attorney fees and administrative expenses. Approximately six million claims have been filed, with payouts expected to average around $333 per claim. Claimants will be paid via the method requested on their claim form, unless they opted for electronic payment.
(Source：FOX 9)