Idaho Statesman Logo

Blue Shield of California says it's capping profits at 2 percent | Idaho Statesman

×
  • E-edition
  • Home
    • Customer Service
    • Mobile & Apps
    • Archives
    • Buy Photos and Pages
    • Contact Us
    • Newsletters
    • Newspaper in Education
    • Subscribe
    • Subscriber Services

    • News
    • Boise
    • West Ada
    • Canyon County
    • Crime
    • State News
    • Nation/World News
    • Databases
    • Education
    • Environment
    • Idahoans in the Military
    • Weather
    • Traffic
    • Helping Works
    • In the Classroom
    • Our Community
    • Sports
    • Boise State Football
    • Boise State Basketball
    • Idaho Vandals
    • High Schools
    • Bronco Beat
    • Chadd Cripe
    • Varsity Extra Blog
    • NFL
    • NBA
    • NHL
    • MLB
    • Golf
    • Idaho Politics
    • Elections
    • Government and Business
    • Capitol & State
    • Letters from the West
    • National Politics
    • Business
    • Business Insider
    • Business Columns & Blogs
    • Personal Finance
    • Legal Notices
    • Opinion
    • Editorials
    • Bill Manny
    • Editorial Cartoons
    • Letters to the Editor
    • Guest Opinion
    • Submit a Letter or Opinion
    • Entertainment
    • Events Calendar
    • Restaurant Reviews
    • Arts and Culture
    • Festivals
    • Movie Reviews
    • Movie Showtimes
    • Music
    • Television
    • Books
    • Comics
    • Puzzles & Games
    • Horoscopes
    • Puzzles
    • Words & Deeds
    • ArtsBeat
    • Outdoors
    • Playing Outdoors Blog
    • Biking
    • Camping
    • Fishing
    • Hiking and Trails
    • Hunting
    • Winter Recreation
    • Living
    • Food & Drink
    • Health & Fitness
    • Home & Garden
    • Treasure
    • Pets
    • Religion
    • Travel
    • Best of Treasure Valley
    • Heart of the Treasure Valley
    • Margaret Lauterbach
    • Tim Woodward
    • Carolyn Hax
  • Obituaries

  • Contests
  • Advertise
  • Classifieds
  • Jobs
  • Cars
  • Homes
  • Place An Ad

  • About Us
  • Mobile & Apps

News

Blue Shield of California says it's capping profits at 2 percent

Darrell Smith - The Sacramento Bee

    ORDER REPRINT →

June 08, 2011 04:42 AM

In what it called a "bold move" to cut health care costs, Blue Shield of California said Tuesday it will cap profits at 2 percent of revenue and pump any extra cash back into credits for customers, funding to care providers and grant awards to nonprofits that provide health care to poor Californians.

"This doesn't solve the affordability problem, but it does represent a paradigm shift for a health plan," said Blue Shield Chief Executive Officer Bruce Bodaken, in prepared remarks ahead of a speech on the plan in San Francisco on Tuesday.

But Blue Shield's news was met with little more than a shrug from the state's insurance commissioner and deep skepticism from consumer advocates, who blasted the announcement as a publicity stunt ahead of a state Senate vote on whether to impose rate regulation on health insurers.

The controversial Assembly Bill 52, penned by Assemblyman Mike Feuer, D-Los Angeles, and lobbied for heavily by Insurance Commissioner Dave Jones, passed in the Assembly on Friday.

Sign Up and Save

Get six months of free digital access to The Idaho Statesman

SUBSCRIBE WITH GOOGLE

#ReadLocal

"They're spending this money as a lobbying campaign rather than an honest change in business practices," said Doug Heller, executive director of Consumer Watchdog and a vocal critic of Blue Shield. "They are desperate to avoid regulating accountability."

Blue Shield will start by giving back $180 million – the amount by which officials said the insurer exceeded its 2 percent target for 2010. Individual and business customers will get $167 million of that in the form of credits against their premiums – as much as 30 percent in some cases.

To read the complete article, visit www.sacbee.com.

  Comments  

Videos

Some Republicans were against executive power on immigration. Now they aren’t.

Thick snow turns Yosemite National Park into winter wonderland

View More Video

Trending Stories

Vote now for the Treasure Valley athletes of the week (Feb. 11-16)

February 18, 2019 02:31 PM

Police said he was drunk in a crash that injured 17. He wasn’t. 46 years later, he tells his story.

February 18, 2019 03:03 PM

The million-dollar Boise home? Ho-hum. See who’s buying houses for $2 million and up

February 19, 2019 10:18 AM

5A SIC all-conference girls basketball team: Where did your favorite player land?

February 18, 2019 11:55 AM

Boise Hawks’ stadium to host big rock festival. Free beer in ticket price? Cheers, punk

February 19, 2019 11:58 AM

Read Next

Choupette, Karl Lagerfeld’s fashionable feline, will inherit part of his large fortune

National

Choupette, Karl Lagerfeld’s fashionable feline, will inherit part of his large fortune

By Lisa Gutierrez

    ORDER REPRINT →

February 19, 2019 03:51 PM

Karl Lagerfeld fans wonder how much of the Chanel creative director’s fortune his cat, Choupette, will inherit. “There is enough for everyone,” Lagerfeld said last year. Choupette has become a social media star.

KEEP READING

Sign Up and Save

#ReadLocal

Get six months of free digital access to The Idaho Statesman

SUBSCRIBE WITH GOOGLE

MORE NEWS

Oregon man saw Idahoans trespassing, so he held them at gunpoint until police arrived

Crime

Oregon man saw Idahoans trespassing, so he held them at gunpoint until police arrived

February 19, 2019 03:35 PM
Teen rescued when her accused abuser gets stuck in snow and calls 911, Oregon cops say

National

Teen rescued when her accused abuser gets stuck in snow and calls 911, Oregon cops say

February 19, 2019 03:42 PM
Judge OKs suit aimed at halting Obama library in Chicago

Business

Judge OKs suit aimed at halting Obama library in Chicago

February 19, 2019 02:53 PM

Politics & Government

Stacey Abrams appearance at voting rights hearing has political overtones, GOP says

February 19, 2019 08:20 AM
The million-dollar Boise home? Ho-hum. See who’s buying houses for $2 million and up

Treasure

The million-dollar Boise home? Ho-hum. See who’s buying houses for $2 million and up

February 19, 2019 10:18 AM
Guns, NASCAR and Masters tickets used as bribes in failed SC nuclear project, feds say

National

Guns, NASCAR and Masters tickets used as bribes in failed SC nuclear project, feds say

February 19, 2019 02:32 PM
Take Us With You

Real-time updates and all local stories you want right in the palm of your hand.

Icon for mobile apps

Idaho Statesman App

View Newsletters

Subscriptions
  • Start a Subscription
  • Customer Service
  • eEdition
  • Vacation Hold
  • Pay Your Bill
  • Rewards
Learn More
  • About Us
  • Contact Us
  • Newsletters
  • News in Education
  • Archives
Advertising
  • Information
  • Place a Classified
  • Local Deals
  • Place an Obituary
  • Today's Circulars
Copyright
Privacy Policy
Terms of Service


Back to Story