Blue Cross Blue Shield insurers reach $2.7 billion settlement deal of antitrust suit–WSJ

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Blue Cross Blue Shield has reached a tentative agreement, which would require the insurance group to pay $2.7 billion, to settle an antitrust suit filed on behalf of its customers, according to a report in The Wall Street Journal. Citing people with knowledge of the matter, the agreement would also require the insurance group to curtail practices that allegedly limited competition among its three dozen member companies, the WSJ report said. Although the Blue Cross Blue Shied Association has signed off on settlement deal, it has not yet been approved by the boards of all 36 Blue Cross Blue Shield insurers, the report said.
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