Lexology November 4, 2024
On October 14, 2024, Plaintiffs representing a class of health care providers for In Re Blue Cross Blue Shield Antitrust Litigation reached a settlement agreement against the Blue Cross Blue Shield Association and its member companies (“BCBS”) for allegations of suppressing competition and underpaying providers. BCBS will pay $2.8 billion to a Settlement Fund and implement transparency and accountability measures within BCBS to ensure the alleged anticompetitive behavior does not continue. This settlement follows the $2.67 billion settlement finalized earlier this year with subscribers. Health care providers must now decide to participate in the proposed settlement or opt out and assert their own claims.
Background
Over a period of 12 years, health plan subscribers and health care providers sought legal...
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