Blue Shield of California Names Mike Stuart as New CEO Amid Healthcare Affordability Pressures

At a time when rising healthcare costs are straining families and providers, Blue Shield of California has recently appointed a longtime executive of the company, Mike Stuart, as its new president and chief executive officer.

Within the new role, announced yesterday, Stuart will lead the nonprofit health plan’s efforts to deliver affordable, high-quality care to 6 million Californians.

Stuart, MBA

Stuart, who has been with Blue Shield California for more than 11 years, steps into the role after serving as interim CEO since March and as chief financial officer since 2022. This new position comes at a time in what the company calls a critical moment for healthcare affordability and access.

“Mike Stuart is the right leader at the right time for Blue Shield of California,” Kristina Leslie, chair of the company’s board of directors, said in a news release. “He has a deep understanding of our mission, our members and the complex healthcare landscape we operate in.”

As CFO, Stuart led the organization through rocky industry conditions, including cost pressures and regulatory shifts. He played a role in advancing affordability initiatives and strengthening partnerships with providers and public agencies. Those efforts included supporting coverage for more than 750,000 active-duty military families and members of CalPERS, the California Public Employees’ Retirement System.

Earlier this month, Blue Shield of California also joined more than 25 national health organizations in urging Congress to extend expanded Affordable Care Act tax credits beyond 2025.

In a letter to Congress, the groups warned that more than 20 million Americans are at risk of a cost-of-living crisis that only Congress can prevent. For California, the Kaiser Family Foundation estimated that without the credits, more than 400,000 people could lose coverage, threatening to reverse hard-won gains in access to affordable health insurance.

Now, as CEO, Stuart will oversee more than 6,500 employees and a vast portfolio of health, dental, vision, Medicaid and Medicare plans. The company said in the release that his leadership reflects a growing emphasis in healthcare on nonprofit stewardship, financial accountability and systemwide collaboration.

Leslie added that the challenges facing the industry make Stuart’s financial and operational background particularly relevant.

“Our industry is facing extraordinary challenges—from rising costs to regulatory shifts and increasing demands for equity and access,” she said. “In this environment, we need a leader who not only understands the complexity of the healthcare system but also has the conviction and capability to drive real, sustainable change. Mike brings exactly that.”

This new role provides both professional and personal weight.

“I am honored to lead Blue Shield of California at such a critical moment for our state and industry,” he said in the release. “We have a responsibility as a nonprofit health plan to lead with integrity, partner with purpose and ensure care is both accessible and affordable. I’m proud to work alongside our talented leaders across the Ascendium family of companies to build a healthcare system that works better for everyone.”

His background combines experience in both finance and nonprofit healthcare.

Before joining Blue Shield in 2014, Stuart held senior leadership positions at the Daughters of Charity Health System, where he gained direct experience with the operational and financial challenges faced by providers. He holds an MBA in Finance from Saint Mary’s College of California and a bachelor’s degree in business administration from California State University—better known as Chico State.

Stuart’s long career at Blue Shield gives him familiarity with the organization’s structure, partnerships and mission. Since joining as vice president of corporate finance and controller in 2014, he has advanced through several leadership roles, including senior vice president of finance and CFO.

The company noted that his progression demonstrates his ability to adapt to shifting healthcare demands while keeping affordability as the main focus to Blue Shield’s strategy.

The leadership transition comes amid a wider affordability crisis in U.S. healthcare. Across the country, patients, employers, and policymakers are grappling with rising premiums, out-of-pocket costs, and system inefficiencies. Blue Shield of California, a taxpaying nonprofit, has positioned itself as a player committed to sustainability while still competing with larger for-profit insurers.

According to the company, it reported more than $27 billion in annual revenue and has contributed more than $60 million to its philanthropic foundation over the past three years.

By appointing Stuart, Blue Shield plans to continue building partnerships across the healthcare system while working to keep costs manageable for its members.

The company added that the dual focus on financial sustainability and nonprofit values highlights the balancing act faced by insurers across the country.