Financial summary

Against revenues of $24.1 billion (from premiums and other sources), Blue Shield of California spent $22.1 billion (or 92 percent) on medical care in claims paid to healthcare facilities and providers, and the company reported a net loss of $910 million for 2022.

Our 2% Pledge: We are the only major health plan to voluntarily cap our income at two percent of revenue, returning the difference back to our customers and the communities we serve.  Since establishing this pledge in 2011, Blue Shield has returned $817 million to our members and California communities, with approval from our Board of Directors.

Over the last three years, we have invested $97 million in communities through the Blue Shield of California Foundation. The Foundation’s mission is to support lasting and equitable solutions that make California the healthiest state and to end domestic violence.


Blue Shield of California consolidated financials

($ in millions) 2022 2021 2020
Premiums, net and other revenue $24,054 $22,909 $21,086
Investment income ($189) $399 $366
Total revenue $23,864 $23,308 $21,171
Health benefits $22,122 $20,102 $17,985
Marketing and selling $701 $698 $651
General and administrative $2,411 $2,180 $2,447
Total operating expenses $25,234 $22,980 $21,084
Net operating income/(loss) before tax ($1,369) $328 $1,088
Income tax expense ($459) $91 $408
Net income/(loss)
(Net income as a % of premiums
2% Pledge amount
Social impact giving contribution
Breakdown of premium dollar spent: 2022
To hospitals $0.43
To physicians $0.29
To pharmaceuticals $0.14
To other medical services $0.06
Total cost of health care $0.92
Administrative expenses and fees $0.08
Premium dollar $1.00
(Note: Health plans excludes Altais)

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© California Physicians' Service DBA Blue Shield of California 1999-2024. All rights reserved. California Physicians’ Service DBA Blue Shield of California is an independent member of the Blue Shield Association. Health insurance products are offered by Blue Shield of California Life & Health Insurance Company. Health plans are offered by Blue Shield of California.