News Headlines Article

Blue Shield has big plans for profits
San Francisco Business Times

Nearly a month after the news that it’s capping profits at 2 percent per annum and giving back $180 million to policyholders and health care providers, Blue Shield of California is still taking questions about the surprise policy shift. Blue Shield, a San Francisco-based not-for-profit health plan, posted $315 million in net income last year, but as Chairman and CEO Bruce Bodaken told the Business Times last Friday, it doesn’t take long for a huge health plan to spend that kind of money on necessary capital investments.