An 11th Circuit panel in Atlanta has upheld a class action settlement in a $2.7 billion antitrust case against the Blue Cross Blue Shield Association, which means benefits will now be distributed to the subscribers who sued Blue Cross more than a decade ago.
The plaintiffs, in their suit, had accused the health insurer of Sherman Antitrust Act violations, including limiting competition between its 36 insurer companies, which in turn resulted in a price hike for members.
The three-judge panel’s decision upholds the Alabama District Court’s August 2022 approval of the settlement. Actions against Blue Cross were consolidated in Alabama and split into a track for subscribers and one for healthcare providers; District Court Judge R. David Proctor imposed terms on Blues plans that change the way they operate in such a way as to boost competition among insurers.
That, however, resulted in appeals to the 11th Circuit, including from Home Depot, which said the agreement violates public policy and would harm the power of antitrust enforcers to bring claims against Blue Cross in the future. That, said Home Depot, is because the agreement includes a release of future antitrust class claims originating from Blue Cross, Healthcare Finance reports. Read more.
