Mission Report 2024

Being financially responsible

Blue Shield is committed to ensuring all Californians have access to high-quality health care at a sustainably affordable price. In 2024, we navigated rising healthcare costs by strengthening internal controls and driving cost efficiencies.

Prioritizing sustainably affordable health care

As a nonprofit, tax-paying health plan, we are dedicated to lowering healthcare costs through disciplined financial planning, sustained profitable growth, investments in innovation and data-driven insights. Recognized as a U.S. Best Managed Company for the fifth year and a Gold Standard honoree for the second year, we continue to demonstrate excellence and support our mission to serve members.

2024 Financials Dashboard

Consolidated Financials ($ in the millions)	2024	2023	2022	2021
Premiums, net and other revenue	$27,101	$25,091	$24,054	$22,909
Investment Income	$338	$260	($189)	$399
Total Revenue	$27,439	$25,351	$23,865	$23,308

Health Benefits	$23,856	$22,147	$22,122	$20,102
Marketing & Selling	$678	$675	$701	$698
General & Administrative	$2,724	$2,329	$2,411	$2,180
Total Operating Expenses	$27,258	$25,151	$25,234	$22,980

Net Income/(Loss) before Tax	$181	$200	($1,369)	$328

Income Tax Expense/(Benefit)	$78	$70	($459)	$91

Net Income/(Loss)	$103	$130	($910)	$237
Net Income as a % of premiums	0.4%	0.5%	-3.8%	1.0%

2% Pledge amount	N/A	N/A	N/A	N/A
Social Impact Giving Contribution	$30	$30	$30	$49

Note: 2% Pledge calculation based on a three-year net income average excluding unrealized equity gains/(losses)
Breakdown of premium dollar spent:	2024 Health Plan
Hospitals	$0.40
Physicians	$0.27
Pharmaceuticals	$0.13
Other Medical Services	$0.08
Total Cost of Health Care	$0.88
Administrative Expenses and Fees	$0.11
Government Mandated Taxes and Fees	$0.01
Total Premium Dollar	$1.00

For every dollar of revenue/premium we earn, roughly 88 cents are spent providing care, 11 cents to administrative expenses, and 1 cent to government mandated taxes and fees.

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