News Headlines Article

Blue Shield of California to cut many premiums 2.5% this year
Los Angeles Times

Health insurer Blue Shield of California, under fire for a series of recent rate hikes and the pay of its chief executive, plans to cut this year’s premiums by 2.5% for many of its 3.3 million policyholders as part of a new initiative to hold down costs.

The nonprofit insurer, with about 10% of the California market, said the rate reduction would be applied to bills in October, resulting in $167 million in savings for nearly 2 million customers.