More than five years after receiving final court approval, a $2.67 billion antitrust class-action settlement involving Blue Cross Blue Shield is entering its payout phase. Eligible claimants could see money deposited into their bank accounts within days, with distribution scheduled to begin in May, according to the settlement website.
The settlement stems from a long-running lawsuit accusing Blue Cross Blue Shield and its affiliated insurers of violating antitrust laws by limiting competition in the health insurance market. Plaintiffs argued the system was structured to reduce overlap among regional plans, restricting competition and potentially increasing healthcare costs for consumers. Blue Cross Blue Shield has denied any wrongdoing but agreed to settle, with final approval granted in October 2020.
Claimants were required to file before the November 2021 deadline. Approximately 6 million claims were submitted nationwide. Payments will vary based on factors such as length of enrollment and premiums paid between 2008 and 2020. Earlier estimates suggested average payouts of $300 to $333 per valid claim, though final amounts will differ.
After legal fees and administrative costs, the settlement fund is reduced to roughly $1.9 billion. A company spokesperson stated in 2024: “We deny the allegations… however, to reach a settlement and put years of litigation behind us, we have agreed to make some operational changes and a monetary payment.”
