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Frequently Asked Questions

We know it can be a confusing journey so we have gone ahead and compiled a list of the most frequently asked questions from our clients to get you started!

 

Disclaimer: Class members need not sign up for a third-party service, such as Sagemont Services, in order to participate in any monetary relief from the settlement. No-cost assistance is available from the Class Administrator and Class Counsel during the claims-filing period. 

  • Blue Cross Blue Shield Settlement
  • Settlement Recovery Services
  • Visa/Mastercard Settlement

What happens if I don’t file a claim?

If you don’t file a claim by the deadline, you forfeit your right to any settlement payments.

Can Sagemont Services file on my behalf?

Yes. With your authorization, our team will file your claim, ensuring all required information is included for a smooth approval process.

What if I already have legal representation?

Sagemont Services is not a law firm but acts as your settlement advocate. If you have an attorney handling your claim, you may still choose to work with us for additional support in data collection and claim maximization.

How will I receive my settlement payment?

Payments can be received via check, ACH, wire transfer, PayPal, Venmo, or Virtual Mastercard, depending on the amount. Fees may apply for certain payment methods.

Am I eligible if I was licensed as a physician before March 12, 2008?

Physicians licensed before March 12, 2008, are generally excluded unless they opted out of the Love v. Blue Cross Blue Shield Association settlement. However, because there is no way to verify opt-outs from that case, these physicians should assume they cannot file a claim.

How can I opt out of the Settlement?

Opting out allows you to retain your right to sue the BCBS defendants separately. The deadline to opt out is March 4, 2025.

What is settlement recovery?

Settlement recovery involves claiming financial compensation that is owed to businesses or individuals as a result of class action settlements, legal judgments, or regulatory settlements. When a company is ordered to pay damages for misconduct or other harm caused, those entitled to a portion of these damages must actively claim their share.

How can I start the settlement recovery process with Sagemont Services?

To begin, simply complete our Registration Form with information about your primary business location. If you own multiple businesses operating as separate entities, we advise completing a form for each one to maximize your recovery potential.

What types of settlements does Sagemont Services handle?

Our firm handles a broad range of settlement categories, including financial, healthcare, pharmaceutical, and product-related settlements. We tailor our approach to the specific nuances of each domain.

Is my business too small to benefit from settlement recovery services?

Businesses of all sizes can benefit from settlement recovery services. We assist both large corporations and small businesses in navigating the complexities of the claims process to recover the funds they are due.

What information do I need to provide for registration?

You will need to provide basic details about your business, including the name, headquarters or primary business location, and any relevant information about your claim or the settlements you believe you may be entitled to.

How does Sagemont Services ensure the highest level of professional ethics?

We are committed to maintaining the highest standards of professional behavior and ethics. We operate with transparency, honesty, and ethical practices in all interactions with clients, employees, and partners.

What if the claims process is new to my business?

Our team is here to guide you through every step, providing clarity and support. We’ll explain the process, handle the documentation, and work diligently to make the experience as seamless and successful as possible for you.

Can Sagemont Services guarantee a recovery amount?

While we cannot guarantee a specific recovery amount, as it depends on the details of each case and settlement, we can assure you that we will leverage our expertise and resources to pursue the maximum possible recovery for your claim.

What is the Visa/Mastercard Settlement?

The settlement resolves claims that Visa and Mastercard, along with their member banks, violated antitrust laws by fixing card interchange fees at high levels. The settlement includes monetary relief for class members who accepted Visa or Mastercard payments at any time from January 1, 2004, to January 25, 2019.

How does Sagemont Services assist in this process?

We specialize in identifying settlement opportunities and guiding our clients through the claims process. Our expertise covers preparing the necessary documentation, negotiating with claims administrators, and ensuring our clients receive the full compensation they’re entitled to.

Who is included in the Settlement Class?

The Rule 23(b)(3) Settlement Class includes all entities that accepted Visa or Mastercard branded cards in the U.S. during the class period, with specific exclusions such as the Dismissed Plaintiffs, government entities, the defendants and their close affiliates, and financial institutions involved in issuing or acquiring card transactions.

What if I do nothing?

If you do nothing, you will not receive any monetary benefit from the settlement. Additionally, unless you previously excluded yourself, you are still bound by the settlement’s terms and relinquish your rights to sue the defendants over these claims.

Do you provide legal advice?

No. We do not practice law so we don’t provide legal counsel. We are not an attorney, class counsel or claims administrator. Sagemont Services is a class action settlement expert. We handle all of the settlement administration details including preparing and submitting any required documentation and claim forms, and working with settlement administrators to reconcile and distribute appropriate recoveries under the terms of the settlements.

Is this the official settlement website?

No. The settlement website is www.paymentcardsettlement.com.

Can I file a claim on my own?

Yes. Go to the settlement website for more information: www.paymentcardsettlement.com.

What is an Interchange Fee?

When a cardholder makes a purchase with a credit or debit card, there is a fee attributable to those transactions, which is usually around 1% to 2% of the purchase price. Interchange fees typically account for the greatest part of the fees paid by merchants for accepting Visa and Mastercard cards. Visa and Mastercard set interchange fee rates for different kinds of transactions and publish them on their websites, usually twice a year.

Does my business qualify for a portion of the $5.54 billion settlement fund?

If your business accepted Visa or Mastercard payments during the settlement period, you likely qualify.

How much money will my business get from the settlement?

The amount paid from the settlement fund will be based on your actual or estimated interchange fees attributable to Visa and Mastercard card transactions (between you and your customers) from January 1, 2004, through January 25, 2019. The amount of money each Authorized Claimant will receive from the settlement fund depends on the money available to pay all claims, the total dollar value of all valid claims filed, the cost of class administration and notice, applicable taxes on the settlement fund and any other related tax expenses, attorneys’ fees and expenses, and money awards to the Rule 23(b)(3) Class Plaintiffs for their representation of merchants in MDL 1720.

Why Sagemont Services?

We blend expertise with meticulous attention to detail to secure the maximum possible recovery for your business. Our process is streamlined and robust, requiring minimal effort on your part, and we operate on a success fee basis, ensuring that our interests are perfectly aligned with our clients’ interests.