What’s happening: With additional information available on the Blue Cross Blue Shield (BCBS) antitrust claims settlement process, hospitals will benefit from reviewing the recent BCBS antitrust settlement agreement’s potential impact with their legal counsel, including whether to remain in or opt out of the settlement.
What else to know: BCBS plans (referred to as Blue Plans) have agreed to a $2.8 billion settlement to resolve legal allegations from a slew of providers who claim the insurers colluded to prevent competition and lower reimbursements. The settlement will bring a decade-long legal battle to a close, should it secure final approval.
Providers first sued the Blue Cross Blue Shield Association and 33 of its affiliates in 2012, arguing that they worked together to split up geographic regions so they did not compete against one another. This collusion, the providers argued in the lawsuit, decreased their reimbursements and led to higher insurance costs. In addition to monetary payments, the settlement’s injunctive relief includes specific commitments relating to transparency, efficiency, and Blue Plan accountability.