Love v. Blue Cross Blue Shield Association (Summary)

CLASS ACTIONS

Love v. Blue Cross Blue Shield Association, No. CV-03-21296-MORENOSIMONTON (S.D. Fla. Apr. 27, 2007)

Twenty-three Blue Cross Blue Shield (“BCBS”) plans announced a settlement with the approximately 900,000 physicians who had brought a class-action lawsuit alleging that the BCBS plans had improperly reduced the physicians’ reimbursements. The BCBS plans will contribute $128 million to a fund to which physicians can submit previously disputed claims and will as much as $49 million in legal fees. The Wall Street Journal reported that the terms of the settlement are subject to the approval of Judge Federico Moreno of the United States District Court of the Southern District of Florida. A copy of the settlement agreement can be viewed at:

http://www.hmocrisis.com/hmoExhibit%201%20Settlement%20Agreement.pdf