Blue Shield of California’s Provider Network Update on UCLA
Blue Shield of California is currently in discussions with Ronald Reagan UCLA Medical Center and Santa Monica UCLA Medical Center (UCLA Medical Center), and UCLA Medical Group (includes UCLA Medical Group-Santa Monica Bay Physicians (SMBP) and UCLA Medical Group), all located in Los Angeles County, to renegotiate the terms of our HMO/PPO hospital agreements and medical group agreements for PPO and Medicare plans. If we are unable to reach an agreement, the contracts are scheduled to terminate effective 12:01 a.m. on January 1, 2012.
Read MoreBlue Shield of California Announces a New 2 Percent Pledge Giveback
We are pleased to announce a second give-back as part our 2 Percent Pledge commitment to customers and the community. This time we will return an estimated $295 million based on our 2011 net earnings by the end of the year. We announced the 2 Percent Pledge in June, as part of our commitment to affordability. We pledged to limit our annual net income to 2 percent of revenue, and any year that we earn more than 2 percent net income, to return the difference to our customers and the...
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