Here we go again: another massive health insurance company, this time located in New Jersey, seeks a class-action settlement that will wipe away millions of dollars in obligations to physicians, and prevent physicians from suing the company to collect. Many physicians who receive these class action settlements probably toss them into the trash, without realizing that they lose their rights by doing so.
Like other insurance company settlements, this binds physicians unless they affirmatively opt out of it. These settlements are a fantastic deal for insurance companies, but are often terrible for physicians who are then unable to collect against the company. If this settlement by Horizon Blue Cross Blue Shield of NJ does not affect you, then be wary of similar settlements by big insurance companies in your state.
The deadline for opting out of the settlement is this Monday, June 2 at 4:30pm (or whenever the post office near you closes). Unless you send a letter postmarked by this June 2, preferably by Express Mail or certified mail with a return receipt requested, to a special address, then you will be forever bound by the settlement and will lose your right to sue Horizon for what it may owe you over a multi-year period.
In a similar settlement concerning Blue Cross in another state, one group of physicians was accused of being in contempt of court simply because they later sued to collect what Blue Cross owed them, after failing to opting out of the class action settlement prior to the deadline. These settlements prevent physicians from being able to sue insurance companies.
This email is not legal advice. Please assess your own situation vis-a-vis Horizon Blue Cross Blue Shield of New Jersey to decide whether you want to opt out of the settlement or not, or file claims within the settlement. We do not know how many pennies on the dollar you may recover if you stay in the settlement. We do know that many physicians who do not sent a letter postmarked by June 2nd in order to opt out of the settlement will be stuck without realizing it, and may later regret their loss of rights.
If you want to opt out of this Horizon Blue Cross Blue Shield of New Jersey settlement — and that is entirely up to you and your attorney — you can use the templates we provide here:
Template for Corporations to Opt Out:
Click here for Word version | Click here for PDF version
Template for Individual Physicians to Opt Out:
Click here for Word version | Click here for PDF version
But don't overlook the deadline of this Monday, June 2nd, for the postmark on your opt out letter or letters, and keep copies of anything (along with postal tracking numbers) you send in.
