Blue Cross Blue Shield’s $2.8 Billion Deal Gets Initial Approval

Blue Cross Blue Shield won preliminary approval for a $2.8 billion settlement designed to resolve antitrust claims brought by hospitals and other health-care providers alleging the insurance giant shortchanged them on reimbursements.

The deal provides plaintiffs with “extraordinary” monetary recovery as well as changes to business practices that will significantly improve how providers interact with Blue Cross Blue Shield, Judge R. David Proctor of the US District Court for the Northern District of Alabama said in a Wednesday order.

The deal also includes hundreds of millions of dollars in “key infrastructure” through which Blue Cross and Blue Shield Plans ...