News Headlines Article

Exclusive: Blue Shield reveals details of huge Care1st acquisition
San Francisco Business Times

Paul Markovich, CEO at Blue Shield of California, told the San Francisco Business Times on Sunday that the San Francisco-based insurer has no intention of giving up its “mission-driven, not-for-profit status,” pays hundreds of millions in taxes every year, and plans on paying $1.2 billion to acquire Care1st Health Plan.

Blue Shield under fire after regulators revoked its California tax-exempt status, said in early December it planned to buy Care1st Health Plan, a multi-state Medicaid and Medicare health insurer with more than 520,000 enrollees.