Do you recall, by any chance, that surprise email from Blue Cross Blue Shield? Well, it might just be worth $333. After years of legal back-and-forth over alleged anticompetitive practices, the Blue Cross Blue Shield Association has officially started rolling out payments from a $2.67 billion settlement.
If you were enrolled in one of their health plans between 2008 and 2020, you could be one of six million Americans set to receive a check (or direct deposit) just for being a class member in this lawsuit.
This massive payout stems from a class action lawsuit filed in 2013, which accused BCBS of restricting competition among its 35+ affiliated insurers and inflating health insurance costs in the process. While the company never admitted any wrongdoing, it agreed to the multibillion-dollar settlement to avoid further litigation. Now, nearly three years after a federal court gave the green light, payments are finally being sent.
Why is Blue Cross Blue Shield sending money?
This whole thing started way back in 2013, when a group of employers and individual policyholders sued the Blue Cross Blue Shield Association and its affiliates. They claimed that instead of competing fairly, the companies carved up the country like a health insurance pie, agreeing to stay in their own oligopolistic corners.
By doing this, BCBS was accused of keeping prices high and competition low, which —unsurprisingly— didn’t sit well with consumers or regulators. Fast forward to 2020: the association agreed to fork over $2.67 billion to settle the case. The settlement got final approval in 2022.
Who’s eligible for a payment?
If you had BCBS coverage between 2008 and 2020, there’s a good chance you’re on the list. That includes folks with individual plans, coverage through work, and even retirees who kept their BCBS plans.
Claims had to be filed before the November 2021 deadline, so if you already submitted your paperwork back then, you’re in the mix. If not, unfortunately, this train has already left the station,but it’s still worth checking the status of your eligibility if you’re unsure.
How much are people actually getting?
The average payment is about $300, but don’t be surprised if yours looks a little different. Payouts are based on things like:
- How long you were enrolled
- If your plan was individual or employer-based
- The number of claims submitted
Some people will see more, especially if they held long-term or high-tier plans. While it won’t make up for the health insurance oligopoly they subjected many Americans, it will lessen some of the accumulated costs over the years.
When are the payments being sent?
Claim determination emails started going out this month, letting people know how much they’re getting and when. If you picked direct deposit, the money may already be in your account. If you opted for a check, give your mail carrier a little time to make the rounds.
No extra steps are needed if you already filed your claim and selected a payment method. Now it’s just a matter of watching your inbox—(and maybe planning a modest celebration).
Still waiting? Here’s what to do
First, check your email and your spam folder. The message should come from the Blue Cross Blue Shield Settlement Administrator and will give you all the details you need.If you don’t see anything and think you may be eligible, visit the official settlement site.
There, you can check your status, update your payment method, or contact support if something seems off. No need to dig through old paper records—they’ve streamlined the process.
