A U.S. district judge gave preliminary approval for a $2.7 billion settlement from Blue Cross Blue Shield insurers. The settlement is for an antitrust lawsuit that accuses the companies of conspiring to divide markets and avoid directly competing with each other.
In a Nov. 30 order, U.S. District Judge R. David Proctor in the Northern District of Alabama gave early blessing to the settlement, which would resolve the claims in the original lawsuit brought by BCBS plan members.
The claims were first brought in 2012 under a class-action lawsuit filed on behalf of health plan members. The lawsuit alleged that anticompetitive behavior among BCBS plans has led to higher prices for members.
For a deeper dive into what the settlement entails, click here.