Blue Cross Blue Shield Settlement Payout Date, Payment Amount, Status 

The Blue Cross Blue Shield Settlement of $2.67 billion receives the final approval on 9 August 2022. However, the class members who have claimed the settlement have yet to receive the settlement payout.  

Blue Cross Blue Shield Settlement Payout Date

The Blue Cross Blue Shield class action antitrust lawsuit plaintiff alleged that the defendants BCBSA (Blue Cross Blue Shield Association) had violated the antitrust laws as the companies entered into an agreement, where they would limit the competition in selling health insurance and administrative services, leading to high prices of health insurance. 

The defendant proposed a settlement amount of $2.67 billion to settle the matter while not agreeing with the allegation. The Court approved the settlement on 9 August 2022, the class members who submitted the claim before the deadline were expecting their payout in the first quarter of 2024. 

However, the claimants have not received the settlement payment due to the objection on the Eleventh Circuit court appeal. According to the recent update on the settlement, the defendants will change their strategy, and the settlement payout cannot be disbursed until the end of 2024. 

Reason for the delay in BCBS settlement payout

According to an update on the official website of BCBS Settlement, the Eleventh Circuit Court of Appeal has denied the appeal of the 25 October 2023 decision at the beginning of 2024. 

However, some class members have objected to the settlement and appealed the Eleventh Circuit decision to the Supreme Court, which has delayed the settlement payout. 

The official website of the BCBS settlement says that the settlement disbursement cannot be processed until all these appeals are resolved legally. The site says the claimants can check further updates on the settlement in November 2024.

Who will receive the Blue Cross Blue Shield Settlement payment?

The US people who have claimed the Blue Cross Shield Settlement on the deadline and meet the following requirements:

  • When you have covered certain health insurance from BCBS or administrative service plans between February 2008 and October 2020. 
  • When you are an individual, insured group, or self-funded account who purchased or enrolled in BCBS insurance or administrative services plan during the class period of settlement, government accounts are excluded from the class members of the BCBS settlement. 
  • The settlement period for the self-funded accounts class members from 1 September 2015 to 16 October 2020. The class members who are an individual and insured group settlement period is 7 February 2008 to 16 October 2020. 

Blue Cross Blue Shield Settlement Plan of Distribution

The Blue Cross Blue Shield Cross Settlement amount is $2.67 billion, which will be distributed to settle administrative costs & fees,  notice expenses, awards, etc.

The Settlement amount of $2.67 billion is the gross Settlement fund, deriving the net settlement fund authorized for claimants. 

According to the BCBS Settlement agreement, the settlement amount will be distributed among the following:

  • Class counsel 
  • Settlement Administrator Fees and Cost of Distribution
  • Attorney Fees and cost
  • Class Representatives
  •  Other expenditures of the class action settlement. 

The Gross Settlement fund, $2,67 million is distributed and the Net Settlement fund is derived when we subtract all the settlement expenses from the GSF. According to the notice, the Net Settlement Fund authorized for claimants is around $1.9 billion, 25% of the actual settlement fund of $2.67 billion. 

The Net Settlement Fund is allocated to individual members and insured groups on one end and on the other hand, the Self-funded subclass member would receive the payout. The plan of distribution for the settlement was sound and effective for the class members as stated by the court. 

Blue Cross Blue Shield Settlement Payment Amount 

The class member will receive payment according to the net settlement fund, which is authorized for claimants. The settlement amount per claimant depends upon the number of valid claims and other settlement expenditures. 

As mentioned earlier, the Net settlement fund authorized for the claimants is around $1.9 billion, the claimants can expect the settlement per person from this fund. According to the reports, more than six million people have claimed the BCBS settlement and the claimants can expect an average settlement payout of $350 based on the Net settlement fund. 

It is a projected amount the amount can go higher or lower depending on the approved claims and final settlement distribution. 

How can you check your Blue Cross Blue Shield Settlement claim status?

The BCBS claimants waiting for the payout or wish to know if their claim is approved or not can check their claim status online on the official website. You can follow the below steps to check your BCBS settlement claim status:

  • First, go to the official BCBC settlement website at https://www.bcbssettlement.com/
  • Next, navigate to “Check Online Claim Status” and click on the button.
  • Next, enter your ten-digit Unique ID or claim number received in the settlement notice. 
  • Next, click submit to see your claim status of the BCBS settlement. 
  • Your claim status of the BCBS class action settlement will appear on your screen. 

The class action antitrust settlement against the Blue Cross Blue Shield Association was delayed after the final approval due to further appeals from some class members on the Eleventh Circuit decision. The claimants should check the settlement website or official channels until November 2024 as the payment distribution is halted due to several appeals. 

Now, the BCBS settlement claimants can only wait till the appeals are resolved, which we expect until the end of 2024. It is believed the payment will be processed immediately after the resolution of all the appeals of the BSBC settlement. 

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