Insurance payback
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Nearly 2 million Blue Shield of California policyholders will get back a total of $450 million in excess profits earned this year. That amounts to a 7% decrease in annual premiums.
Of the total, $167 million was announced last summer and was included in October bills and $283 million announced Thursday will be distributed as credits on December bills.
Individual policyholders will see their December premiums reduced by an average of $135.
A family of four will get an average credit of $420, but the reductions could be as much as $700.
Most employees insured at work under Blue Shield group policies will also see reductions.
Source: Blue Shield of California
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