Blue Cross Blue Shield Insurers may be afoul of antitrust law [Seeking Alpha]
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Source: Seeking Alpha
Blue Cross Blue Shield Insurers may be afoul of antitrust lawAn Alabama district court judge has ruled that long-standing operating practices by Blue Cross and Blue Shield insurersmay violate U.S. antitrust law.The Blue Cross Blue Shield Association licenses the Blue brands to 36 insurers who typically have exclusive rights to the brands within their respective territories. Most are non-profits that operate in only in their respective states but for-profit Anthem (ANTM-2.5%) offers Blue-branded plans in 14 states.The case involves two consolidated antitrust lawsuits brought by healthcare providers and certain Blue-insured customers. They allege that the insurers are illegally conspiring to allocate markets and avoid competition, driving up prices and depressing the amounts paid to healthcare providers.The case has a long way to go, but the Blues remain confident that they will prevail. General counsel Scott Nehs says the group was "disappointed by the court's ruling" but called it "on
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