Landmark $115 million settlement proposed in Anthem data breach case

As many as 78.8 million Anthem customers and customers of other insurers affiliated with them had their personal data comprised, including names, birthdays, Social Security numbers, addresses, email addresses, employment information, and income data.

Anthem, the second largest health insurer in the United States, suffered this breach back in late 2014 and early 2015. At the time, the company offered two years of free credit monitoring services for all those affected.

If the staggering $115 million settlement is approved by a judge it will be the largest data theft settlement to date, as well as being the largest health care breach to date.

Of that $115 million, the majority will be used to cover attorneys’ fees, which are estimated at around $38 million, while Experian is expected to receive $17 million for the additional two years of credit monitoring and identity protection services for the victims. $15 million of the fund will be used to pay actual out-of-pocket costs up to a set amount, and those who already have credit services can submit a claim to receive an alternative cash compensation. Taxes and administrative expenses will, of course, have to be paid, too.

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