One of California's biggest health insurers said Tuesday it will cap its earnings at 2 percent of revenue and return amounts over that level to its customers, care providers and the community.
Blue Shield of California said the new plan starts with last year's profit. That means it will return $167 million to policyholders.
Chairman and CEO Bruce Bodaken said in a San Francisco Chronicle editorial his company was announcing a "new commitment to help our customers get the health care they need at a price they can better afford."
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
