In October 2024, a monumental settlement in a longstanding antitrust class action lawsuit filed on behalf of healthcare providers nationwide was announced. The settlement, with all the Blue Cross and Blue Shield entities in the country, as well as the Blue Cross and Blue Shield Association, is the largest antitrust settlement in the history of the United States healthcare industry, and is made up of two elements:
- A $2.8 billion settlement fund to reimburse providers; and
- A commitment from the Blues to make operational and structural improvements to benefit providers and prevent future anti-competitive conduct.
The underlying lawsuit alleged that the Blues violated the Sherman Antitrust Act of 1890 by illegally dividing the United States into “service areas” and agreeing not to compete in those areas, which limited competition and lowered reimbursement. The Blues deny any wrongdoing but still agreed to the $2.8 billion settlement.
For more information, including eligibility, how to submit a claim, and more, click here.
