If you’ve ever had health insurance through Blue Cross Blue Shield (BCBS), you might be in for a surprise. After years of legal battles, a major class action lawsuit has finally resulted in a $2.67 billion settlement, and millions of eligible BCBS members could be getting a check soon. But how much can you expect to receive? Who is eligible? And when will you see your money? Let’s break it down in simple terms so you know exactly what’s going on.
What’s the Lawsuit About?
This class action lawsuit isn’t just some small case. It’s a big deal that affects millions of people who had BCBS health insurance. The case, which started back in 2012, accused BCBS of working together to limit competition and inflate prices, which led to higher premiums for policyholders across the country.In essence, BCBS was charged with establishing monopolies in specific areas, harming patients and the healthcare system overall.
In 2020, the court granted a $2.67 billion settlement following a protracted legal struggle. If you were among the members who were harmed by the alleged price-fixing tactics, you may be entitled for a reimbursement. This money is intended to recompense those who were affected.
Who Qualifies for the Settlement?
So, how do you know if you qualify for the settlement? If you had BCBS insurance at any point between February 7, 2008, and October 16, 2020, there’s a good chance you’re eligible. But let’s go over the specifics to make sure:
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Had BCBS Insurance: If you were covered under BCBS through an individual plan, a family plan, or through your employer, you might qualify.
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Covered During the Right Time Period: The time period for eligibility is from February 7, 2008, to October 16, 2020. If you had coverage during any part of that time, you might be eligible.
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State-Specific Rules: Some states might have slightly different rules about who qualifies, so it’s worth checking the official website for the full details.
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Who’s Excluded?: Certain people, like BCBS employees, government employees, or anyone who already received a different settlement related to this case, won’t be eligible.
If you think you fit the criteria, you’ll need to submit a claim on the official settlement website.
How Much Money Will You Get?
The crucial query now is: How much money will you receive? The solution isn’t quite that simple, though. Each person’s payout is determined by a number of criteria, such as the length of time they were insured by BCBS and the amount they paid in premiums. Here’s a broad overview of what to anticipate:
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Average Payment: Most people can expect checks in the range of $20 to $60. However, if you had BCBS for a longer time or paid higher premiums, your payout could be higher.
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Larger Claims: If you were impacted more heavily, like having high medical bills or living in an area with fewer insurance options, you might get a larger share of the settlement.
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How the Money is Split: The amount you receive will depend on how many claims are filed and how the total settlement is divided up. Keep in mind that legal fees and administrative costs will also be deducted from the overall pool.
It’s not a fortune, but for many people, it will feel like a small victory to finally get some money back after years of inflated premiums.
When Will You Get Paid?
It’s been a long wait, but payments are coming. Here’s what you need to know about when to expect your check:
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Claim Deadline: You have until July 2025 to file your claim. If you miss this deadline, you won’t be able to get any compensation, so don’t wait too long.
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Payment Dates: After the claims deadline, the settlement administrators will begin processing the payments. You can expect checks to start going out in late 2025. It might take some time for everyone to get paid, so don’t worry if yours takes a little while to arrive.
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How You’ll Get Paid: If you’re eligible, you’ll receive your payment either by check in the mail or through direct deposit (if you chose that option when you filed your claim).
Make sure all your contact details are up to date so you don’t miss out on your payment.
How to File a Claim
Filing a claim is simple, but you’ll need to gather some basic information. To file your claim, go to the official settlement website, where you’ll be asked to provide details about your BCBS coverage during the eligible period. You’ll likely need to enter your name, contact info, and the dates you were covered under BCBS.
If you can’t remember your exact coverage dates, try to dig up any old insurance cards or other documents that might help. The more accurate your information, the smoother the process will go.
Final Thoughts
The BCBS class action settlement is a big deal for those who were affected by the company’s alleged anti-competitive practices. While the payouts might not be life-changing, it’s still a nice bonus for people who were overcharged for health insurance for years. If you think you’re eligible, make sure to file your claim before the deadline to ensure you get your fair share.
Stay on top of important dates and keep an eye on the settlement website for updates about when the payments will be issued. It’s your money, and you’ve earned it.
