News Headlines Article

Blue Shield of California to limit profit to 2% of revenue
San Francisco Business Times

Blue Shield of California plans to restrict its net income to 2 percent of its revenue. The San Francisco health plan will apply the restriction retroactively to 2010, and will return last year’s $180 million in excess to its customers via credits. It will also invest $10 million of the $180 million in state hospitals and doctors’ groups and give $3 million to local nonprofits that help poor people via its Blue Shield of California Foundation.