Credit: wolterke/Adobe Stock
In the largest settlement of its kind in the health care industry, the Blue Cross Blue Shield Association and 33 independent BCBS companies have agreed to pay $2.8 billion to settle antitrust claims from providers.
The association also must make significant operational changes across 16 categories, including how it processes claims, communicates and contracts with and makes payments to providers. The tentative agreement still requires approval from U.S. District Judge R. David Proctor, and a special committee will monitor BCBS for five years following the court's final settlement approval.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
