As a nonprofit health plan that was tax-exempt for over 70 years, Blue Shield belongs to the public. But its corporate leaders want the ability to sell Blue Shield and keep possession of the proceeds—around $10 billion.
Late last year, they got a California regulator to quietly issue a ruling exempting Blue Shield from a state law requiring money from the sale of a nonprofit health plan to be turned over to the public to meet community healthcare needs, such as providing care to low-income children.
I'm a former Blue Shield Director of Public Policy who resigned in protest and is fighting to expose and prevent this massive rip-off. If enough of us stand up, we can stop Blue Shield. Please sign this petition. For more on Blue Shield’s abuses see my blog posts and news coverage of the campaign.
LOS ANGELES TIMES: Blue shield faces new criticism of shortchanging consumers in California
Los angeles Times: Insurer Blue Shield sues ex-executive who became nonprofit's critic
nonprofit quarterly: Questions about Leon Panetta, Blue Shield of California, & The Nonprofit Sector
Los angeles times: Big hike in executive pay at nonprofit Blue Shield draws state scrutiny
LOS angeles times: Blue Shield faces more heat over nonprofit status, $1.2-billion deal
San francisco business times: Thanks to whistleblower, Blue Shield's $1.25 billion California acquisition under review