Blue Cross Blue Shield (BCBS), a major player in the healthcare industry, has agreed to a record-setting $2.8 billion settlement to resolve a class action lawsuit that accused them of violating antitrust laws. The lawsuit claimed that the BCBS Association and its individual Blue plans divided the U.S. into "Service Areas" and agreed not to compete in those areas, effectively fixing prices for services, a clear violation of antitrust regulations meant to ensure fair competition. BCBS, while denying any wrongdoing, agreed to the settlement to avoid further legal costs and uncertainty. The settlement will benefit a wide range of healthcare providers from hospitals and clinics to individual doctors and nurses who provided services to BCBS members between July 24, 2008, and October 4, 2024. Part of the settlement involves BCBS making changes to its business practices to enhance competition and better interactions with providers. This includes transforming its BlueCard Program, implementing timely payment commitments, modifications to contract rules, and expanding opportunities for value-based contracts. Healthcare providers who meet the specified conditions can file a claim to receive a portion of the settlement before the claim form deadline on July 29, 2025.