BCBS Settlement – another example of how insurance and a for-profit healthcare system is an abomination
Here’s the full article: https://www.reuters.com/legal/blue-cross-blue-shield-agrees-pay-28-bln-settle-us-health-provider-class-action-2024-10-14/?utm_campaign=north-carolina-advocates-for-justice-eclips&utm_source=membercentralpublications&utm_medium=email&utm_content=october-15-2024
But in summary, Blue Cross Blue Shield has agreed to pay $2.8 billion to settle antitrust class action claims brought by hospital administrators, doctors, and other healthcare providers who claim they were not paid properly for reimbursements. What? An insurance company didn’t pay what they should have?!? Gasp! This settlement, announced in a federal court filing in Alabama, is the largest healthcare antitrust settlement to this date. Of course, BCBS denied the allegations and stated that the settlement is just an effort to resolve years of litigation and includes operational changes. Reading between the lines, you don’t doll out nearly $3 billion just for the sake of moving on; obviously, there’s some truth to the allegations as it would have cost much less to prove otherwise if that wasn’t the case. The proposed agreement will purportedly transform the BlueCard program for claims submission and enhance transparency and efficiency within what many may argue is a system. It also promises more contracting opportunities for providers and requires Blue Cross to invest hundreds of millions of dollars in implementing non-monetary aspects of the settlement. The settlement covers healthcare providers serving Blue plan patients from July 2008 to October 2024 and is subject to approval by U.S. District Judge R. David Proctor.
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