Tag: Blue Cross Blue Shield of Massachusetts

A Wake-Up Call for Healthcare? Inside Blue Cross Blue Shield MA Historic $400M Loss

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Blue Cross Blue Shield MA Historic 400M Loss

Blue Cross Blue Shield of Massachusetts Reports Record $400.4M Loss in 2024 Healthcare Spending Surge Creates Financial Pressures Blue Cross Blue Shield of Massachusetts (BCBSMA) ended 2024 with a staggering $400.4 million operating loss, marking the most severe financial setback in the nonprofit insurer’s history. The company attributed this decline to an unprecedented surge in healthcare spending, which has risen at its fastest pace in more than a decade. For context, the company’s largest prior loss, recorded in 2009, was $223.6 million—less than half of 2024’s figure. BCBSMA’s net loss…

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Massachusetts residents to see insurance rate increases

S.Vagus
Ohio health insurance

Regulators approve rate increase proposal The Massachusetts Division of Insurance has announced the approval of a health insurance rate increase throughout the state. The increase is expected to have an effect on individuals and small businesses and will come from one of the state’s largest insurance companies. Initially, insurers had sought approval for large rate increases, typically 10% or higher. State regulators, however, have succeeded in keeping rate hikes at or below the 2% threshold for nearly two years running. With health care reform bringing significant changes to health insurance…

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Massachusetts health insurer posts earnings, shows marked increase in profits and narrowing of losses

Despite a tumultuous year, Blue Cross Blue Shield of Massachusetts is reporting high earnings in the second quarter. Thus far, 2011 has proven to be relentless in the number of natural disasters occurring throughout the U.S. While speculations regarding the losses faced by insurance companies have been somewhat grave, the fact of the matter is that many insurers are earning more than they did before the disasters. There can be no doubt that these insurers, most of whom operate in the property market, have, indeed, suffered losses, but their ability…

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