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.
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