Blue Shield of California, San Francisco, has apprenticed to cap net assets at 2% of acquirement and acquittance $180 million, the sum the company’s balance exceeded that akin in 2010.
Bruce Bodaken, the company’s administrator and CEO, explained the abnormal move as a way to accomplish bloom allowance added affordable. “We apperceive now that accretion admission to advantage is not enough,” he said at a account conference.
Blue Shield admiral said they achievement the move inspires added insurers and providers to accede a agnate move. “Everyone is activity to charge to do the affectionate of brooding we’ve done,” Bodaken said.
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