Financial summary

Against revenues of $25.1 billion (from premiums and other sources), Blue Shield of California spent $22.1 billion (or 88 percent) on medical care in claims paid to healthcare facilities and providers, and the company reported a net income of $130 million for 2023.

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 $77 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) 2023 2022 2021
Premiums, net and other revenue $25,091 $24,054 $22,909
Investment income $260 ($189) $399
Total revenue $25,351 $23,864 $23,308
Health benefits $22,147 $22,122 $20,102
Marketing and selling $675 $701 $698
General and administrative $2,329 $2,411 $2,180
Total operating expenses $25,151 $25,234 $22,980
Net operating income/(loss) before tax $200 ($1,369) $328
Income tax expense $70 ($459) $91
Net income/(loss)
(Net income as a % of premiums
2% Pledge amount
Social impact giving contribution
Breakdown of premium dollar spent: 2023 Health Plan
Hospitals $0.40
Physicians $0.27
Pharmaceuticals $0.14
Other medical services $0.07

Total cost of health care

Administrative expenses and fees

Government mandated taxes and fees

Net income





Premium dollar $1.00

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