BCBS tentatively agrees to $2.7 billion anti-trust settlement
Major employers such as Microsoft and Walmart alleged that BCBS associations jointly worked to stifle competition and raise prices.
By Ted Knutson|September 30, 2020 at 10:01 AM
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National employers would find it easier to obtain Blue Cross Blue Shield coverage through insurers other than Blues in their headquarters’ state under a proposed anti-trust settlement, the Wall Street Journal is reporting. The agreement would give small, one-state Blue insurers access to mega-corporations for the first time.
The openings come as sources told the paper the Blue Cross Blue Shield Association and lawyers representing tens of millions of Americans covered by over one million individual and corporate policyholders have tentatively agreed to a $2.7 billion anti-trust settlement where the Blues would pay to extinguish claims they jointly worked to stifle competition and raise prices. General Motors, Microsoft and Walmart are among the major businesses participating in the antitrust action as plaintiffs.
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