What is the expected payout for the BCBS settlement?
Asked by: Gracie Tillman | Last update: August 12, 2025Score: 4.3/5 (42 votes)
What is the estimated payout for the Blue Cross Blue Shield settlement?
In the lawsuit, In re: Blue Cross Blue Shield Antitrust Litigation (MDL No. 2406), it was alleged BCBS violated antitrust laws by limiting competition and fixing prices. To resolve this, BCBS agreed to a $2.8 billion settlement fund to avoid the risk and cost of further litigation.
What is happening with the BCBS settlement?
The settlement claims period is now open and will run until July 29, 2025. The California Medical Association (CMA) is hosting a webinar to help physicians learn how to submit a claim for your share of the settlement proceeds. The one-hour webinar will be held on Tuesday, February 28, 2025, at 12:15 p.m.
How much are class action settlement checks?
If you have a case where 30 to 50 million people are involved and the settlement amount is $10 million, lawyers will take a big chunk. The class action settlement checks mailed might be as little as just $. 25 or a few dollars after what's left of the settlement has been split up among each class member.
How do I check the status of my BCBS settlement?
If you have questions about the settlement, including whether you may be a member of the class and eligible for a payment, please use one of three resources to find out more: The settlement website is www.bcbssettlement.com. The toll-free settlement hotline is 1-888-681-1142.
How To Counter Lowball Settlement Offers
How soon will I get my settlement check?
Injured victims usually have to wait 30 to 60 days to receive their settlement check. This is mostly due to factors like the defendant's insurance policy, the type of personal injury case, and more. The fastest way to receive your check is to have an attorney handle the process for you.
What settlements are going on right now?
- $150M Chevy Bolt battery defect class action settlement. Settlement. ...
- $2.5M Professional Finance Co. data breach class action settlement. ...
- $1.6M Nonstop Administration and Insurance Services data breach class action settlement. Settlement. ...
- Subaru windshield defect class action settlement.
Does everyone get the same amount of money in a class action lawsuit?
Class action lawsuit settlements are not divided evenly. Some plaintiffs will be awarded a larger percent while others receive smaller settlements. There are legitimate reasons for class members receiving smaller payouts.
Should I cash a settlement check?
If you have received a check from your insurance company, consider consulting a lawyer before cashing it. An attorney can assist in evaluating the settlement check and determine whether it reflects a full and fair compensation per the sustained damage.
How long after class action settlement do you get paid?
The average time it takes to process a settlement check is between one and six weeks. However, it can take several months for you to receive just compensation. If you hire one of the experienced attorneys from Morgan & Morgan, you should not have to wait six weeks to receive your settlement check.
How many people filed claims for the BCBS settlement?
As part of the settlement, the plans deny all allegations of wrongdoing. About six million people, including many in northwestern Pennsylvania, filed claims by the November 2021 deadline.
How to check BCBS claim status?
Use our interactive tool to find your local Blue Cross and Blue Shield company's website and access your account. On their website, you'll be able to look up your health plan, review a claim and more. Enter the first three letters of the Identification Number from your member ID card.
What is the BCBS settlement class period?
The Settlement Class Period for Individuals and Insured Groups is from February 7, 2008, through October 16, 2020.
What is happening with the Blue Cross Blue Shield settlement?
Blue Cross denied wrongdoing but agreed to the settlement in 2020 to resolve claims that it overcharged commercial and individual subscribers. U.S. District Judge R. David Proctor in Birmingham approved the settlement and fee award, and the U.S. Supreme Court finally pushed aside lingering objections in June.
How do you estimate settlement amount?
Estimated Settlement Amount means an amount, which may be positive or negative, equal to (i) the Estimated Cash, plus (ii) the Working Capital Overage, if any, minus (iii) the Estimated Indebtedness, minus (iv) the Working Capital Underage, if any.
How do you calculate settlement amount?
1. How is the settlement amount determined? The settlement amount is determined on the basis of the accrued interest and market price. Both are added together to get the amount.
How long to get a check after a settlement?
Factors such as the complexity of the case, negotiation processes, and administrative procedures can impact the timing of the settlement check. It's essential to note that while the general range is 3 to 6 weeks, the specific duration can be shorter or longer based on the unique details of your situation.
Are settlement checks tax free?
The general rule regarding taxability of amounts received from settlement of lawsuits and other legal remedies is Internal Revenue Code (IRC) Section 61. This section states all income is taxable from whatever source derived, unless exempted by another section of the code.
What is the best thing to do with a settlement check?
A large settlement check provides you with the opportunity to pay off debt. Plan to pay what you may owe from credit cards, high interest loans, or other bills. Using your funds in this way can help you earn financial freedom by reducing ongoing interest payments.
How much do lawyers take from a class action settlement?
The courts often determine how much lawyers will get in fees from a successful class action lawsuit. This figure is usually around 25% to 35% of the total settlement amount awarded to the class of plaintiffs. However, the fees can be higher if the case is unusually complex.
What is the usual result of a settlement?
What Is the Usual Result of a Settlement? Most personal injury cases settle out of court. This means both parties agree on a compensation amount without going to trial.
Is there a downside to joining a class action lawsuit?
One of the dangers of joining a class action lawsuit is that you lose the right to file an individual lawsuit if the class action case fails. In addition, you cannot reject a settlement offer to which the class representatives have agreed.
How to find settlement amount?
To determine a potential settlement value, they first combine the total of medical expenses to date, projected future medical expenses, lost wages to date and projected future lost income. The resulting sum is then multiplied by the pain and suffering multiplier value to produce a projected settlement amount.
How long do most settlements take?
How long do most personal injury cases take to settle? The duration of most personal injury cases to settle varies widely, typically ranging from a few months to several years, depending on factors such as the complexity of the case, the severity of injuries, and the negotiation process with insurance companies.
What are the 3 settlements?
There are three main settlement patterns: nucleated, linear and dispersed.