For private medical practices and dental offices that accepted Visa and Mastercard payments from January 1, 2004, to January 25, 2019, a unique opportunity for financial compensation has arisen due to a class-action settlement involving a preliminary settlement of over $5.5 billion. This lawsuit, which alleges that Visa and Mastercard violated antitrust laws leading to increased transaction fees, may directly benefit healthcare practices, depending on their payment mix. Here’s what you need to know to see if your practice is eligible and how to file a claim.

Settlement Details 

Your practice may likely have a mix of insurance payments and patient pay (via credit card), depending on your specialty. This patient-pay portion could potentially qualify for the settlement, making it worth exploring, especially if a significant percentage of your transactions were paid by credit card. 

Eligible providers could receive around $3,000 to $5,000 per $1 million in credit card sales processed during the settlement period. To participate, claims must be submitted by February 4, 2025, via the official settlement site, Payment Card Settlement.

How to File Your Claim

Filing a claim for this settlement is straightforward, and based on guidance from local Omaha law firms and our specialized tax advisors, we believe that most clients can complete the process independently without needing additional assistance. Here’s a step-by-step overview to guide you:

1. Create an Account: Start by registering on the Payment Card Settlement website.
2. Estimate Your Credit Card Sales: Input an estimate of your Visa and Mastercard sales during the covered period (January 1, 2004, to January 25, 2019).
   • No documentation is needed upfront. The Class Administrator will verify the sales figures independently and reach out only if there’s a discrepancy.
3. Provide Proof of Business: Submit any necessary documents proving your business’s existence, such as organizational documents, when prompted. 

Next Steps

Taking advantage of this opportunity could result in meaningful financial compensation. For additional information, you can refer to the official case documents on the settlement website linked above. Should you have any questions or need clarification on the claim process, please contact us.