Depending on how pending lawsuits play out in court, California's four largest health plans could owe the state $10 billion in back taxes--and be subject to a hefty tax bill in the future, according to the San Jose Mercury News.
Blue Shield of California has experienced a security breach that exposed the personal information of nearly 21,000 customers late last year, the Orange County Register reports.
Despite the problems that have stood in the way of health information exchanges, insurers are increasingly seeing the benefit of sharing information in large part because of value-based payment, according to a report in Managed Care magazine.
California's three largest health insurers went against the trend of insurers' heavy losses on the exchanges by racking up a combined $182 million combined surplus on ACA policies in 2014, according to the Los Angeles Times.
Blue Shield of California is facing criticism again, this time as state insurance regulators and consumer groups say the company is reneging on a charitable pledge of $140 million that was part of a deal to win approval for its acquisition of a Medicaid health plan, according to the Los Angeles Times.
Two health insurance companies, Blue Shield of California and Anthem Blue Cross, have been fined by California insurance regulators for misleading consumers about their physician networks on the state's insurance exchange, according to the Los Angeles Times.
CEO Paul Markovich has pledged to improve Blue Shield of California's service to members and disclose more about its executives' compensation as the insurer faces continued scrutiny from both consumer advocates and the state, the Los Angeles Times reports.
A state agency has approved Blue Shield of California's controversial $1.2 billion acquisition of Care1st, a Medicaid health plan, but consumer advocates are critical of the deal's failure to resolve other outstanding complaints against the company, the Los Angeles Times reports.
Blue Shield of California, which is a nonprofit insurer, boosted pay to its executive employees by $24 million in 2012--an increase of 64 percent from the previous year, according to a confidential state audit reviewed the Los Angeles Times.
Blue Shield of California is set to issue rebate checks mandated by the Affordable Care Act to the tune of $82.8 million.