Three things to know:
1. BCBS of Minnesota reported a 2020 operating income of $128 million on revenue of $13.2 billion.
2. The insurer ended the year with net income of $244 million, primarily driven by $249 million BCBS of Minnesota received from a settlement related to the ACA’s risk corridors program.
3. BCBS of Minnesota paid out $11.5 billion in medical claim payments in 2020, representing 87 cents of every dollar of premium revenue.
Read more here.
More articles on payers:
UofL Health launches direct-to-employer health plan
BCBS of Minnesota CEO Dr. Craig Samitt to retire
Holdout states reconsider Medicaid expansion after increased funding
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.