Blue Cross Blue Shield Payments about six million people are ready to leave, more than two years after the health insurer reached a $ 2.67 million agreement with subscribers.
Payment notices to claimants are being sent by email continuously, according to An update on the BCBS settlement website.
The agreement comes from a collective claim that alleges that more than 35 BCB health insurance plans violated antimonopoly laws when agreeing not to compete with each other, which limits competition in the health insurance market.
The defendants deny the accusations of irregularities. “On the other hand, the plaintiffs and the defendants of liquidation have agreed an agreement to avoid the risk and cost of additional litigation,” the update of the liquidation site is read.
Who receives a check?
Participants must have submitted claims before November 5, 2021 to be eligible to receive a payment of the liquidation fund of $ 2.67 billion.
The subscribers that were covered by certain health insurance plans or administrative services of Blue Cross Blue Shield between February 2008 and October 2020 are potential members of the class.
The site does not indicate when payments notices will be sent.
How are individual payments determined?
Individual payment amounts are determined depending on the number of valid claims that are presented, the premiums paid to one or more of the defendants during one of the two class periods, and if the insurance was fully insured or self -confinction.
“The period of the liquidation class for insured individuals and groups is from February 7, 2008 to October 16, 2020,” according to the liquidation website. “The liquidation class period for self -financed accounts is from September 1, 2015 to October 16, 2020”.
If the total payment of any claimant is equal or less than $ 5.00, the claimant will not receive a check.
After deducting the fees of lawyers and administrative costs, the net liquidation fund is worth approximately $ 1.9 billion, which will be distributed in approximately 6 million claimants. On average, claimants can expect $ 333 checks.
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