Get This Blue Cross Blue Shield Letter? It Means You Can Claim Money

You may have heard about a recent settlement involving health insurance company, Blue Cross Blue Shield.

WGRZ is reporting that in October of 2020, Blue Cross Blue Shield reached a $2.67 billion settlement in a class-action antitrust lawsuit; although a judge hasn't given it final approval yet.

If you've used Blue Cross Blue Shield (current or past) in the last 12 years, then you probably have gotten a Blue Cross Blue Shield postcard in the mail at some point that says you're able to be part of a $2.6 billion settlement.

The huge settlement in 2020 stems from the plaintiffs alleging that the health insurance company “violated antitrust laws by entering into an agreement not to compete with each other and to limit competition among themselves in selling health insurance and administrative services for health insurance.” 

So, let's say you got this postcard but you don't want to go through the trouble. You don't have to. You can choose to ignore it and get no money back.

However, if you are looking to claim money in the settlement, you can file to claim. However, chances of you getting sizable money back isn't likely. In fact, if it's less than $5, they won't even pay the claim.

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You can also opt-out (suing but no money back) or object/attend (object to the settlement).

I know, we get so much mail sometimes that we often toss it aside, but this might be one of those things to look for if you had Blue Cross Blue Shield in the last 12 years.