Blue Shield Customers Receive 2% Pledge Credits
In June Blue Shield announced a pledge to limit our net income to 2% of revenue as a reflection of our not-for-profit mission to provide all Californians with access to quality care at an affordable price and our longstanding commitment to health reform. Any excess of 2% net income will be returned to our customers and the community with approval from the board of directors. We said that we would begin this pledge by returning $180 million from our 2010 income.
True to our word during the week of September 6, customers who are eligible for a credit from the 2% Pledge will be sent a letter notifying them of their credit amount. The credits will then be reflected in their bill for October dues/premiums. Please note: Some customers may already be seeing credits on their online account.