Blue Shield Of California Prepares To Rebate Customers, Health Providers

Back in June, responding partly to the pressures of the Affordable Care Act, Blue Shield of California pledged to cap its net income at 2 percent of revenue and give back $180 million to policyholders, physicians, and hospitals. Now, the San Francisco Chronicle is reporting that the insurer is making good on its promise and has “started mailing letters this week to subscribers and group customers who are eligible to receive a credit.” “Policyholders in the Bay Area will receive $46.5 million with $39.3 million going to employer-sponsored plans and $7.24 million being credited to individual policyholders. The average payment to individuals is $107.”