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HUNTSVILLE, Ala. (WHNT) — A significant financial windfall is on the horizon for millions of Americans who were insured through the Blue Cross Blue Shield Association, thanks to a substantial $2.67 billion class-action settlement addressing antitrust allegations.
Filed in 2013, the lawsuit accused Blue Cross Blue Shield companies of conspiring to limit competition and inflate insurance prices by carving up markets and steering clear of direct rivalry. Although the insurers refuted these claims, they opted for a settlement to sidestep an extended legal battle.
In October 2020, an Alabama federal judge gave the green light to this massive settlement agreement.
Eligible claimants who submitted valid claims before the November 2021 deadline can expect to see payments starting in May 2026.
Approximately $1.9 billion will be allocated to subscribers after accounting for legal fees and related expenses, with the payout amounts varying based on the premiums paid and the coverage type held by each individual.
About 6 million claims were submitted nationwide, and most individuals’ payouts are expected to be modest.
The settlement includes many people who were covered by a Blue Cross Blue Shield plan between February 2008 and October 2020. (See more details on if you qualified here.)
Individuals had until Nov. 5, 2021, to submit claims, while providers had until July 29, 2025. The settlement administrator began issuing claim notices to eligible class members on Feb. 16, 2026.
In addition to the monetary settlement, BCBS agreed to operational changes to increase market competition. The lawsuit resulted in one of the largest antitrust settlements in the U.S. health care industry.