business
California Blues to send rebates
NEWS IN BRIEF — Posted Oct. 3, 2011
Following its pledge to limit its profits to 2% of revenue, Blue Shield of California has sent letters listing premium credits to its members and employer customers.
The credits will be used to offset customers' October bills and average $80 for individual customers and $250 for a family of four who are subscribed as individuals.
Fully insured employers in the middle and large group markets who sponsor coverage for their workers will be credited 30% of one month's premium, equal to about $110 to $130 per employee.
Self-insured employers will get a 10% credit. Small-business subscribers' credits will average $125 per employee.
The company announced in June that it will limit profits and return any net income above 2% of revenue back to its 3.3 million members and the community.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2011/10/03/bibf1003.htm.
