Official announcements from Blue Cross Blue Shield or regulatory filings

Blue Cross Blue Shield Settles Antitrust Claims for $2.8 Billion, Largest Ever, Lawyers Eye $700 Million

Oct 17, 2024, 03:02 PM

Blue Cross Blue Shield (BCBS) has agreed to pay $2.8 billion to settle antitrust class action claims brought by healthcare providers, including hospital systems and physicians. The lawsuit alleged that BCBS and its affiliates engaged in practices that limited competition by dividing the country into non-competing areas, resulting in higher insurance costs and underpayment for reimbursements. This settlement marks the largest ever for a healthcare antitrust case, according to the plaintiffs. Additionally, the attorneys representing the plaintiffs are planning to request up to $700 million in legal fees for their work related to this settlement.