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Blue Shield Wants to Close Individual Insurance Plans

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Blue Shield Life and Health company wanted to close most of its individual insurance plans. California Insurance Commissioner Dave Jones disapproves of this closure, and says that it does not comply with state law. The insurer says that it will work with the Insurance Department before any rate hikes are imposed. In California, Blue Shield has stated that it intends on closing most of the individual health insurance plans that it currently offers. This is creating some controversy. The decision would affect around 248,000 people who live in California. To me, it sounds as though the insurer wants to get … Continue reading →

Blue Shield of California Pays Back Customers – Again!

Once again, Blue Shield of California will be paying back some money to its customers. This is the result of the insurers compliance with a rule that requires them give credits to their customers whenever the insurer’s income exceeds 2% of revenue. This is good news for consumers. Earlier this year, in June of 2011, Blue Shield of California paid back around $167 million to its customers. This time, the insurer will be returning $283 million to customers who have health insurance policies with Blue Shield of California. The reason for the refund goes back to a pledge that Blue … Continue reading →

How to Evaluate Mailed Insurance Offers

Today, I got a letter in the mail that came from Blue of California. Right now, I have absolutely no health insurance coverage whatsoever. Could it be possible that the price of a health insurance plan that is printed in this letter is truly going to be that low for me? I decided to investigate. It is wise to be especially suspicious of anything that an insurance company decided to mail to your home. This is particularly true if you are not currently a customer for that particular insurance company. In those cases, it means that the letter they sent … Continue reading →

Blue Shield of California Pays Back Customers

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In a completely unexpected move, Blue Shield of California has decided to make some changes. They are going to take the $180 million in excess profit, and pay it back to their customers. This will benefit individuals, families, and businesses. There may be more money credited back to customers in the future, as well. Blue Shield of California has created a new rule about what it is going to do with the money it makes in profit. This new rule limits the insurance company’s annual income to 2% of the money that it takes in. Everything beyond that amount is … Continue reading →