Health Care & Hospital Law,
Antitrust & Trade Reg.
Oct. 21, 2024
$2.8 billion settlement signals a new era for health care competition
The settlement includes provisions for BCBS to change its business practices to foster competition and improve transparency. This case sets a precedent for other insurers, signaling stricter enforcement of antitrust laws.
In a significant development in the healthcare industry, Blue Cross Blue Shield (BCBS), one of the largest health insurance companies in the United States, has agreed to pay $2.8 billion to settle antitrust class action claims. This landmark decision arises from accusations that the insurance giant engaged in anti-competitive practices that harmed both consumers and healthcare providers.
The origins of the lawsuit trace back to 2020 when a group of BCBS ...
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