Blue Shield Of California To Cap Net Income, Provide Rebates To Policyholders

Coming on the heels of an announcement by Aetna that it is reducing premiums in Connecticut to avoid paying out rebates under the new medical loss ratio regulations in the Affordable Care Act, Blue Shield of California is pledging to “cap our net income at 2 percent of revenue” and “give back $180 million” to policyholders, physicians, and hospitals.