Blue Shield of Calif. Has Approved a Financial Pledge To Meet DMHC Requirements for Care 1st Merger
Blue Shield of California says it has made "substantial progress" toward fulfilling financial pledges that were conditions for the approval of the insurer's merger with Care 1st Health Plan. As part of the approval, the state Department of Managed Health Care said Blue Shield must invest at least $14 million a year for 10 years in the Blue Shield Foundation. In a release on Wednesday, the insurer said its board of directors has approved a $35 million contribution to the Blue Shield of California Foundation.
- "Blue Shield Answers Critics, Says it's on Track Toward Fulfilling Care1st Merger Pledges" (Rauber, "Bay Area BizTalk," San Francisco Business Times, 1/13).