Blue Shield of California's Fake Benevolence
As the head of communications for two of the country's largest health insurers for almost 20 years, I recognize an orchestrated spin campaign when I see one. And boy, oh boy, did I see an award-winning one this week in San Francisco.
The supposedly nonprofit Blue Shield of California went to extraordinary lengths on Tuesday, June 7 to unveil its "bold move to address the health care affordability crisis" by pledging to limit its annual profit to no more than 2 percent of revenue. And not just going forward, mind you, but all the way back to 2010, when the nonprofit's profits were considerably more than 2 percent -- so much more that Blue Shield of California says it will refund $180 million to its policyholders.