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California Blue Shield Agrees to Net Income Limit
National Underwriter

Blue Shield of California, a nonprofit health insurer, says it will try to limit its annual net income to 2% of revenue. California Blue Shield, San Francisco, will make that move retroactive to 2010, meaning that the company could send about $180 million to the company’s customers and to California communities, according to California Blue Shield Chairman Bruce Bodaken. California Blue Shield will give $167 million to fully insured individual and group customers and $3 million in the form of grants to nonprofit health care organizations.