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5 insurers to share Blue Shield’s CalPERS contract

Blue Shield of California has lost its long-time exclusive HMO contract with the California Public Employees’ Retirement System (CalPERS) as the agency has added four additional insurers to its HMO contract.

CalPERS, the third largest healthcare buyer in the nation and Blue Shield’s largest customer, spends about $7 billion each year for its 1.3 million members, including 400,000 public workers and their families with coverage through Blue Shield of California’s HMO plans since 2003.