May 24, 2021
There's a near $3 billion pot o' gold up for grabs for employers (and their employees) who purchased Blue Cross Blue Shield (BCBS) insurance policies or used BCBS to administer claims under self-funded plans between 2008 and 2020. But before you begin making retirement plans, understand that nobody – except maybe the class-action lawyers – is going to get rich on the backs of the settlement.
The expected claimants number in the tens of thousands and any group plan's share of the settlement pie is divvied up between the employer and employees under one of a pair of formulas described in the settlement agreement. Ed and Scott welcome "BCBS point man" Mark Holloway to explain:
For more information about the BCBS class action settlement, and to view the settlement agreement, FAQs and model claim forms, see www.bcbssettlement.com.
For model employee communications about the settlement, ask your Lockton account service team.