Blue Cross settles lawsuit for about $2.67 billion……………………..
The process of the litigation was expensive as well as hard-fought. This is because it involved the creation of over 120 depositions, above 15 million pages, and more than a dozen pleas to dismiss claims of the plaintiffs. This is one of the unique kinds of an antitrust lawsuit and is said ‘historic’ in the court filing.
What was BCBS alleged for?
The lawsuit alleges BCBS for the violation of antitrust laws through the Blue Cross Blue Shield Association of Health plans. The lawsuit signifies that the companies associated with BCBS plotted their own significant locations to work and regions for business within the United States, which refers to the antitrust law’s violation.
The claim further described that the insured group health plans, individuals, and the self-funded plans ended up paying higher premium amounts and ASO costs that eventually put BCBS associations at higher positions in the competitive market.Blue cross blue shield lawsuit $2.7 billion settlement (thelawadvisory.com)