Audit Slams Blue Shield of California for ‘High Surpluses,’ Limited Affordable Coverage Options
The California Franchise Tax Board in an audit criticized Blue Shield of California for amassing more than $4 billion in surpluses and failing to provide more affordable coverage or other public benefits. According to documents related to the audit, those criticisms helped to influence the board's decision last year to revoke the insurer's state tax exemption.
- "California Tax Officials Blast Blue Shield in Audit" (Terhune, Los Angeles Times, 7/5).