Blue Cross Blue Shield of California to return millions of dollars to policyholders

Last year, California health insurer Blue Cross Blue Shield announced that it would be returning more than $160 million in surplus profits to its 2 million policyholders. Amidst accusations of profiteering, the company has announced another wave of refunds that will total $283 million, which will begin being sent out in December of this year. Most of the rebates will come in the form of credit on insurance bills. The company notes that December’s refund will likely cut policyholder’s bills by at least half. Individual policyholders can expect to see…

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