News Headlines Article

Blue Shield Lost Its Tax Exemption Last Year. Who’s Next?
California Healthline

One of California’s biggest not-for-profits looks pretty profitable. Blue Shield’s healthy balance sheet — $13.6 billion in annual revenue, with $4.2 billion in reserves — is more typical of a Fortune 500 company than an organization helping the unfortunate. And partly because of its financial strength, Blue Shield has lost its tax exemption, in a decision rendered by a California tax board last summer. Blue Shield announced it will appeal; a spokesperson said the company “firmly believes it is fulfilling its not-for-profit mission and commitment to the community.”