The company is applying the profit cap retroactively, and will return some money earned in 2010.
Blue Shield health insurance holders in California will see a one-time credit of up to 30% in their premium bill this October.
Paul Markovich of Blue Shield of California says he hopes it's a relief to customers.
MARKOVICH:And we hope to prompt a conversation with lots of others in the industry about what could be done to solve this affordability crisis.
JONES: It's an admission that a non-profit has been making excessive profits and therefore needs to return some of it to its policy holders.
Blue Shield says their pledge is indefinite - as long as their board determines they're financially solvent.