Blue Cross and Blue Shield (BCBS) organizations’ combined membership comprised 38% of total U.S. health insurance enrollment, or nearly 119 million members nationwide as of September 30, 2022, based on statutory reporting. The leading BCBS affiliated insurers with over $17 billion in revenue as of September 30, 2022, include: Elevance Health (formerly Anthem), Health Care Service Corp. (HCSC), Independence Blue Cross, Blue Shield of CA, and Guidewell Mutual Holding Group. In the latest Healthcare Business Strategy report, Mark Farrah Associates (MFA), www.markfarrah.com, analyzed profit margins of BCBS plans, comparing year-to-date performance from third quarter 2019 to third quarter 2022.
Some highlights include:
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Elevance Health (formerly Anthem Inc.) reported the largest profit margin for top Blues plans of 5.4% in 3Q22.
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With 54% of its enrollment through Medicaid plans, Independence Blue Cross, experienced slight increases in profit margin from 3Q19 to 3Q21 but decreased to 0.9% in 3Q22.
- Health Care Service Corp (HCSC) reported a profit margin of 4.6% in 3Q22, a slight decrease from 3Q21.
To read the FREE full text of "Trends in Profit Margins for Leading Blue Cross Blue Shield Plans", visit the Analysis Briefs library on Mark Farrah Associates' website.
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About Mark Farrah Associates (MFA)
MFA is a leading data aggregator and publisher providing health plan market data and analysis tools for the healthcare industry. Committed to simplifying analysis of health insurance business, our products include: Health Coverage Portal™, Medicare Business Online™, Medicare Benefits Analyzer™, County Health Coverage™, Health Plans USA™ and 5500 Employer Health Plus. Follow us on LinkedIn!
View source version on businesswire.com: https://www.businesswire.com/news/home/20230206005523/en/
Contacts
Mark Farrah Associates
Ann Marie Wolfe, amwolfe@markfarrah.com
