Healthcare Giant Handing $1,900,000,000 To Customers After Allegedly Limiting Competition, Driving Up Insurance Costs
A healthcare giant will soon distribute a massive pile of cash to customers in one of the largest antitrust settlements in US history.
Blue Cross has agreed to pay $2.67 billion to settle accusations that its companies violated antitrust laws by agreeing not to compete with each other in the health insurance market.
After legal fees and expenses are deducted, about $1.9 billion of the settlement fund will be distributed to eligible subscribers.
Each payout will vary based on the premiums paid and the type of coverage held.
Initial distribution of payments begins in May 2026, with funds going to class members that purchased or received Blue Cross Blue Shield health insurance or services and filed valid claims by November 5th, 2021.
The settlement covers insured individuals with coverage from February 8th, 2008 and October 16th, 2020, as well as providers who served patients from July 24th, 2008 to October 4th, 2024.
Blue Cross denies wrongdoing and says it settled to avoid further litigation.
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