One of California's biggest health insurers says it will cap its earnings at 2 percent of revenue and return amounts over that level to its customers, care providers and the community.

Blue Shield of California says the new plan starts with last year's profit. That means it will return $167 million to policy holders.

Chairman and CEO Bruce Bodaken says in a San Francisco Chronicle editorial his company doesn't have absolute power to control rising health care costs, but they can do some things to help people pay for it.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.