Blue Shield of California’s 2% Pledge reflects our commitment to our not-for-profit mission to provide all Californians with access to quality care at an affordable price. We pledge to limit our annual net income to 2% of revenue. In any year in which Blue Shield earns more than 2%, we will return the difference to our customers and the community, with approval from our board of directors.
To date, Blue Shield has returned $520 million to customers and the community from income earned in fiscal years 2010, 2011 and 2012.Our 2013 net income is 1.6%. Because our net income for fiscal year 2013 came in below 2%, we will not be returning funds to our customers or the community.
We remain committed to our 2% Pledge, to limiting our profits and to investing in our community and to our affordability mission.
FY 2012 Pledge Announcement - October 2012
FY 2011 Pledge Announcement - October 2011
FY 2010 Pledge Credits Implementation - September 2011
FY 2010 Pledge Announcement - June 2011
Read a transcript of Bruce Bodaken's Commonwealth Club speech as prepared for delivery on June 7, 2011 regarding our "Commitment to Health Insurance Affordability."
Read coverage of the pledge in the New York Times.