Blue Cross Blue Shield payout is delayed due to appeals. Blue Cross Blue Shield payout has been delayed due to the lengthy appeals process, however according to official updates on the website the appeals are all solved. This means that your payout is in the process and you need to change your information to reflect an appropriate settlement if you require. The options for health coverage
Members of the class who completed claims with correct and correct information will receive a Claim determination notices on a daily basis. Class members can verify how their claims are progressing using the these steps and anticipate to receive their pay checks around the beginning of 2025.
What Is the BCBS Settlement?
The BCBS settlement is a result of a class-action antitrust suit that was filed before the Alabama Federal court. The suit was a charge against Blue Cross Blue Shield of:
Limiting competition in the market for health insurance.
Inflation is causing higher insurance costs for businesses and individuals.
Restricting choices for consumers by imposing restrictions on consumer choices.
While BCBS denied any wrongdoings however, the company signed the $2.67 billion settlement to settle complaints and boost competitiveness in the sector.
This settlement is among the largest antitrust class-action settlements to date in U.S. history, bringing an elongated relief to millions policyholders.
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Blue Cross Blue Shield Settlement Payout Date
Blue Cross Blue Shield Settlement concerns the infringement of antitrust laws, in which Blue Cross Blue Shield was involved in an agreement to not compete with one another and reduce competition between them. Even though they admit to wrongdoing plaintiffs and defendants in settlement are negotiating to settle $2.67 billion to the class members.
The suit was filed by business and individual customers who purchased or obtained BCBS health insurance prior to 16 October 2020. Those who filed claim forms before five November, 2021. are eligible be paid out of this settlement. Members of the class are awaiting the settlement’s payout which will be delayed until longer appeals.
BCBS Settlement was ratified by a court on the 9th of August in 2022. it was approved by the Eleventh Circuit Court of Appeals denied an appeal of its decision on 25 October 2023 that affirmed the settlement agreement’s approval on January 26, 2024. A challenge to an appeal of the Eleventh Circuit Court of Appeals ruling that upheld the approval of the settlement agreement was rejected in the Supreme Court of the United States.
How to Check Your BCBS Settlement Claim Status
If you submitted an application before November 5th 2021, you can determine the status of your payment with these instructions:
1. Go to the BCBS settlement site www.bcbssettlement.com bcbssettlement.com
2 Click on “I Would Like To”
3 Select “Check My Claim Status”
4 Enter your Claim Number or Unique ID
5 Submit and check your status
It is important to note that only claims submitted online can be subject to status checks. If you filed an original paper claim and you are not sure, seek out the administrator of the settlement for any updates.
What is the amount of Blue Cross Blue Shield Settlement pay out be?
The total payout from Blue Cross Blue Shield Settlement is $2.67 billion. The amount per person can be determined by a variety of aspects, including the type of insurance policy, coverage period and the validity of claims.
After deducting attorney’s fees, administrative costs and other expenses out of the $2.67 billion settlement fund, about $1.9 billion of the settlement fund will be allocated to legitimate claimants.
The settlement fund total will be split between damaged class members of self-funded or fully insured groups. The settlement in the amount of $1.78 billion is split to Insured Groups, Individuals and their employees. the Self-Funded accounts as well as their staff will get the 120 million funds.
The payout cannot be made when the portion of the claimant is lower or equal to $5. Your payment will be issued through the method you prefer, that could be a directly deposit or a physical checks. Class members who choose a mailing method to receive their payment must be patient because, due to the requirement for time to deliver it can take longer.
Who is entitled to the Blue Cross Blue Shield Settlement Payment?
The qualification criteria is essential to find out if you’ve submitted a claim form for this settlement and are awaiting settlement.
If you meet the requirements of having purchased or obtained insurance coverage from Blue Cross Blue Shield companies during the class time period is eligible for payment.
If a person was covered by BCBS insurance or administrative services plans, BCBS Insurance or Administrative service plans between 7 February 2008 through 16 October 2020, they’re to be eligible to receive a the payout. The class period for accounts that are self-funded is from 1 September 2015 until 16 October 2020.
If you have submitted legitimate claim forms before the deadline of November 5, 2021 and who have not been excluded from the settlement class are able to receive a payout from the BCBS settlement.
How do you determine the status of the Blue Cross Blue Shield Settlement Claim?
The monitoring of the status of Blue Cross Blue Shield Settlement is very simple to accomplish by following the steps below.
Then, you will find an option in the menu bar that says “I WOULD LIKE TO”.
Then, you need select “Check MY Claim Status”.
In this step you will need to submit your unique ID and Claim number. To check your status in just a few minutes select “submit”.
What do I do if haven’t received my Blue Cross Blue Shield Settlement Payment?
There could be a variety of reasons for the delay in the BCBS settlement payment, including incorrect or incomplete information about your address, mailing address, phone number, documents supporting it and emails. You can update these information to prevent delays in the future. these updates are done to the settlement administrator via communication in three methods.
These contact information can also assist you determine what is happening with your payment and also the reason behind the delay. The delay could be due to the delivery method or other banking technical issues, so please be patient. A
Final Thoughts
This BCBS settlement represents a significant victory for those who had to contend with unjust competition and overinflated premiums. After a long period of legal battles, those who claim are now set to get their money in 2025.
When you’re qualified as a claimant ensure that your information is current and be sure to check for any official changes.
For further details, visit bcbssettlement.com.