Blue Cross Blue Shield to Distribute $2 Billion in Settlement Payments to Eligible Policyholders
Blue Cross Blue Shield is set to begin distributing settlement payments in May as part of a $2.67 billion class-action settlement. This settlement resolves claims that the company unlawfully restricted competition among its affiliated insurers, which allegedly led to increased premiums and limited consumer choice. The lawsuit, initiated in 2013, accused over 35 Blue Cross Blue Shield plans of violating federal antitrust laws by dividing geographic markets. Although the company denied any wrongdoing, it agreed to settle without admitting liability. The settlement covers individuals and insured groups with coverage between February 7, 2008, and October 16, 2020, as well as self-funded account customers with administrative services plans between September 1, 2015, and October 16, 2020. Eligibility is limited to those who filed a claim by the November 5, 2021, deadline. 
