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Blue Shield to credit California customers

A Blue Shield of California building is seen in this file footage.

October 14, 2011 12:00:00 AM PDT
Blue Shield of California is returning nearly $300 million to its customers this year.

The health insurer promised this year to limit its net income to two percent of revenue and return the rest to customers.

For individual customers, that means an average credit of $135 by the end of this year, while a family of four will get an average credit of $420.

For customers of mid-size and large groups, the average credit will be between $195 and $230. For small groups, the credit runs between $220 and $605.

The action comes on top of a similar $167 million credit announced in June and returned this month.

The company says it has spent less on medical claims because people have cut back on medical care.