Breaking News: BCBS Settlement Payout Per Person 2022 Revealed
After years of litigation and negotiation, the Blue Cross Blue Shield Association (BCBS) has finally agreed to pay a hefty settlement to those who were affected by their alleged antitrust violations. The settlement amount was announced recently and it has left many wondering how much they can expect to receive. In this article, we’ll take a closer look at the BCBS settlement payout per person for 2022 and what it means for you.
What is BCBS?
Before we dive into the details of the settlement, it’s important to first understand what BCBS is. BCBS is a federation of 36 health insurance companies that provide coverage to over 100 million people in the United States. While each company operates independently in its respective state, they all share the Blue Cross and/or Blue Shield brand names.
The Allegations
In 2012, a class-action lawsuit was filed against BCBS on the grounds that they were engaging in antitrust practices that led to inflated prices for consumers. The lawsuit alleged that BCBS was forcing providers to accept lower reimbursement rates for their services, which in turn resulted in higher premiums for policyholders.
The Settlement
After years of litigation and negotiation, BCBS has agreed to pay a $2.7 billion settlement to those affected by their alleged antitrust violations. This settlement is the largest in US history for an antitrust case. While the settlement amount may seem significant, it’s important to note that it will be distributed among millions of individuals and companies.
The Payout Per Person
So, how much can you expect to receive from the BCBS settlement payout per person for 2022? The answer is, it depends. The payout amount will vary depending on a few factors, such as the size of the policyholder’s premium and the length of time they were insured by a BCBS company. It’s estimated that the average payout per person will be between $40 and $120.
What You Need to Do
If you were insured by a BCBS company between 2008 and 2020, you may be eligible to receive a payout from the settlement. However, it’s important to note that you will need to file a claim to receive your share of the settlement. The claim process is expected to begin in the coming months, and more information will be provided on the settlement website.
Conclusion
The BCBS settlement payout per person for 2022 is finally here, and while the average payout may not be significant, it’s still important to file a claim if you were affected by BCBS’s alleged antitrust practices. Keep an eye out for more information on the claim process and make sure to file your claim to receive your share of the settlement.
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