Blue Shield Of California Faces Scrutiny On Premium Taxes
California's insurance commissioner says Blue Shield of California costs the state $100 million each year by avoiding premium taxes due to a loophole that allows the insurer to choose its regulator. State lawmakers may look at closing that loophole.
California Healthline:
State Insurance Commissioner Calls Out Blue Shield For 'Second Tax Dodge'
California Insurance Commissioner Dave Jones (D) on Wednesday said Blue Shield of California has been dodging taxes for years. Jones spoke Wednesday after the Franchise Tax Board revealed it had revoked Blue Shield's tax-exempt status in August 2014. (Gorn, 3/19)
The San Jose Mercury News:
California Drops Hammer On Blue Shield Tax-Exempt Status
In a startling blow to one of California's biggest health insurers, the state has revoked the tax-exempt status of Blue Shield of California, forcing the company to pay tens of millions of dollars in back taxes and unleashing a torrent of calls for it to return billions of dollars to customers. (Seipel, 3/19)
