News Headlines Article

Blue Shield of California accused of backing out of $140M pledge
Becker's Hospital Review

California regulators and consumer groups have accused Blue Shield of California of going back on its word to give $140 million to charitable organizations, according to the Los Angeles Times.

Regulators claim that in addition to its regular giving, the insurer pledged last month to give $14 million annually for 10 years to the Blue Shield of California Foundation or another charity. They say it was part of the deal involving Blue Shield’s $1.2 billion acquisition of Care1st Health Plan.