Hospitals across California are confronting inflation, workforce shortages, and other financial challenges. In early 2023, the four associations that represent member hospitals in California committed to focusing on hospital financial stability.
Hospitals across California are confronting inflation, workforce shortages, and other financial challenges. In early 2023, the four associations that represent member hospitals in California committed to focusing on hospital financial stability.
We are pleased to share with you a partner opportunity to benefit from the most significant antitrust class action settlement to date. Hospital Council and our endorsed business partner Managed Care Advisory Group (MCAG), a third-party filing expert, are preparing to process claims on behalf of member hospitals for a historic $5.54 billion Visa/Mastercard settlement.
While hospitals may file directly for this settlement, many of our members have found success enlisting a filing expert such as MCAG on their behalf. In addition to the $5.54 billion Visa/Mastercard Settlement, over $150 million in other class action settlement funds is currently available. Because of the diversity of hospital products and service needs, hospitals are frequently eligible to participate as members of class actions, with awards ranging in size from small sums to six-figure sums in rare cases.
While we are proud of what our advocacy has achieved on your behalf, we acknowledge that this will be an ongoing battle. As we continue to foster our vital partnership with MCAG, Hospital Council remains committed to increasing financial stability for our hospitals and ensuring the needs of our community are met.
More details are available below.
$5.54 Billion Visa/Mastercard Claims Period Starts in December
A judge has approved the claims form, which is expected to be sent by mail in December 2023.
For Hospitals
Eligible class members can seek reimbursement for a portion of their interchange fees paid during a 15-year period (January 2004-January 2019). Claims can be made individually or via a third-party filing expert such as MCAG.
Recovery Process Steps
Claims processing will require class members to:
- Collect and review settlement documents and timelines, making sure to note important dates and deadlines. Claim information is available on the MCAG website.
- Gather, analyze, and submit data for the applicable claims period as part of claim documentation.
- Complete, review, and submit a claims-compliant claim form.
Current MCAG clients will not need to submit or complete any documents when the claim forms become available. Instead, MCAG will manage the entire process and:
- Leverage their access to relevant data they use to submit a comprehensive claim on MCAG clients’ behalf.
- Ensure claims form compliance. MCAG’s years of experience means their processes are consistently reviewed and validated by settlement administrators.
What’s Next?
To track this settlement, visit the Payment Card Settlement website. Visit MCAG’s website for Hospital Council members or contact Kimberly Johnson, Vice President, Business Development at kimberly.johnson@mcaginc.com for any questions.
Payment Card Settlement Disclaimer: On January 24, 2019 the Court granted preliminary approval of the settlement filed on September 18, 2018 for the Rule 23(b)(3) Class Plaintiffs in this action. No claim forms are available at this time, and no claim-filing deadline exists. If the settlement is granted final approval, no-cost assistance will be available from the Class Administrator and Class Counsel during any claims-filing period. No one is required to sign up with any third-party service in order to participate in any settlement. For additional information regarding the status of the litigation, interested persons may visit www.paymentcardsettlement.com, the Court-approved website for this case.