DOL Says $2.7B BCBS Deal Puts Employers Over ERISA Plans
By Bryan Koenig (October 20, 2021, 6:25 PM EDT) -- The U.S. Department of Labor urged an Alabama federal judge Tuesday to force a partial do-over of the $2.67 billion deal resolving subscriber antitrust claims against the Blue Cross Blue Shield network, arguing the settlement improperly excludes health plans from receiving payouts.
Filed right before a two-day final approval hearing for the settlement, with the DOL's concerns due to be tackled Thursday, the department argued the settling parties have not been able to adequately address concerns about insufficient consideration for plans covered by the Employee Retirement Income Security Act.
"The proposed settlement's central flaw is that it treats the class-member ERISA...
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