The Shareholders Foundation announces that an investigation on behalf of those who purchased individual or group health insurance from Blue Cross and Blue Shield in the state of Vermont over potential violations of Federal Laws was initiated.
If you or your organization of fewer than 200 employees purchased health insurance from Blue Cross and Blue Shield of Vermont, you have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the investigation by a law firm Blue Cross and Blue Shield might have violated certain federal laws by potential conspiring in an anticompetitive scheme that resulted in inflated health insurance premiums for residents of Vermont.
The investigation focuses on whether 37 of the largest health insurance companies across the U.S., who operate regionally using the Blue Cross and Blue Shield brand name, potentially illegally agreed that Blue Cross and Blue Shield of Alaska, Iowa, Idaho, Illinois, Kansas, Montana, North Dakota, Nebraska, New Jersey, South Carolina, Vermont, and Washington, respectively, would have the exclusive ability to sell Blue Cross and Blue Shield insurance in each of those respective states; and that Blue Cross and Blue Shield of Alaska, Iowa, Idaho, Illinois, Kansas, Montana, North Dakota, Nebraska, New Jersey, South Carolina, Vermont, and Washington, respectively, would not compete with any of the other 37 Blue Cross and Blue Shield insurers in any of their exclusive territories.
According to the investigation any such agreement would potentially be anticompetitive and in could be in violation of federal antitrust laws, giving Blue Cross and Blue Shield of Alaska, Iowa, Idaho, Illinois, Kansas, Montana, North Dakota, Nebraska, New Jersey, South Carolina, Vermont, and Washington, respectively, monopoly power and the ability to set artificially inflated premiums to be charged to customers in those respective states.
Those who purchased health insurance from Blue Cross and Blue Shield of Vermont have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com