BCBS of Minnesota's operating margin less than 1% in 2020

Blue Cross and Blue Shield of Minnesota saw its operating margin dip below 1 percent in 2020, according to financial information released April 1.

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

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