BCBS Class Action Inches Closer to Settlement
A proposed $2.67 billion nationwide settlement with Blue Cross Blue Shield over alleged overpayments is moving closer to preliminary approval in Alabama federal court. According to an article in Law360, the settlement would provide proportional payouts to tens of millions of business and individual BCBS subscribers, while also establishing court-ordered reforms prohibiting anti-competitive conduct, including ending a Blues practice of requiring members to derive at least two-thirds of their revenues from “Blue branded” services.
“This is an historic case that supports consumer choice and much-needed competition for the health insurance market,” says the firm’s Warren Burns, a member of the legal team representing the subscribers. “We hope all the issues are addressed and Judge Proctor will grant preliminary approval in the very near future.”