The $2.67B Blue Cross Blue Shield Settlement is regarded as one of the largest antitrust settlements in the history of the United States. BCBS has been accused of violating federal antitrust laws by limiting competition and artificially driving up insurance prices.
The settlement can be shared among the residents who are eligible to receive benefits. As a result, eligible individuals and businesses may be able to receive compensation on the dates issued by the department.
$2.67B Blue Cross Blue Shield Settlement
The Blue Cross Blue Shield has been suspected for a long time for their monopolistic behavior and anti-competitive agreements that reflect limited customer choice and lead to increased insurance premiums. The BCBS lawsuit accused them of establishing territorial limitations that hindered competition in different states.
They have also employed pricing mechanisms that damage the policyholders. The BCBS is involved in anti-competitive practices, which led to the increase in insurance prices and limited competition from its member firms. All these activities of the BCBS led to a multi-billion-dollar class action suit being filed against them.
Blue Cross Blue Shield Settlement Overview
| Name of Department | Blue Cross Blue Shield |
| Program Name | Blue Cross Blue Shield Antitrust Settlement |
| Country | USA |
| Amount | $2.67 Billion |
| Payment Status | Final payments scheduled for 2025 |
| Mode | Direct deposits, paper checks, prepaid cards |
| Benefit | Compensation for overcharging by BCBS |
| Category | Government Aid |
| Official Website | https://www.bcbssettlement.com/ |
$2.67B Blue Cross Blue Shield Settlement Agreement & Legal Proceedings
After lingering in litigation for many years, BCBS has decided to settle the amount of $2.67 billion in 2020 to the affected individuals because of their illegal behavior. The settlement figures are meant to provide compensation to the affected individuals and businesses.
The settlement can also be used to implement competition-friendly reforms within the health insurance marketplace. As of 2025, it has been settled that individuals who come under the eligibility list will get settlement.
Therefore, residents who have had an effect on the actions of BCBS can go to the official website to receive information about the latest news & information pertaining to the compensation.
$2.67B Blue Cross Blue Shield Settlement Payment Schedule
The payments are expected to be distributed under the timeline designed with the court’s approval.
- Initial payments were issued to individuals between 2022-23, and the final payments are scheduled to be distributed among beneficiaries in 2025.
- People can receive the benefit through direct deposits, paper checks, or prepaid cars, which they prefer for receiving benefits.
- The individual payout entirely depends on the total premiums paid to them, and the business may receive a larger settlement based on the number of employees insured.
- The payout of settlement ranges from $50 to $500 to the claimant, depending upon the submitted claims.
Eligibility Criteria for BCBS Settlement
To qualify for the BCBS Settlement, claimants must follow the criteria as follows:
- A person should be living in the United States of America and currently living there.
- Individuals have purchased a BCBS individual or group health insurance policy between February 7, 2008, and October 16, 2020.
- People who have paid premiums for fully insured health insurance plans are eligible.
- Individuals who have submitted the claim before the original deadline In November 2021.
- Employees who have purchased group health insurance will be eligible to receive higher settlement payouts.
How to Apply for the $2.67B Blue Cross Blue Shield Settlement
People should know that the deadline to apply for the $2.67B Blue Cross Blue Shield Settlement has been closed. However, if additional claims are permitted, follow these steps:
- Visit the official website of the Blue Cross Blue Shield Administrator.
- Access the application form using the login credentials.
- Fill out the necessary form with the required details & attach all required documents for the verification procedure.
- If an additional claim option is available, ensure all the details are correct & verified.
- Submit your claim & wait for their response.
FAQs
Who is eligible to receive the Blue Cross Blue Shield Settlement?
People who have purchased the health insurance between 2008 and 2020.
Where can people fill out the application form?
They should know the deadline is closed in November 2021, but if additional claims are open, they can access them using the official website.
When has the settlement been confirmed for residents?
In 2021, the settlement has been confirmed, and final payments are expected to be distributed by 2025.