Live Insurance News

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

March 4, 2025March 4, 2025 Live Insurance News

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…

Insurance costs are driven skyward by some ailments more than others

July 28, 2015July 24, 2015 H. Cutner

New research has revealed the catastrophic ailments are the most expensive for insurers to cover. The results from a recent study that looked into health insurance costs has now revealed the 10 types of catastrophic ailments that are the priciest for insurers to have to cover as a part of their plans. Among the leading types of condition is going into labor early and having a preterm baby. Preterm births occur about 450,000 times every year and have been found to be among the highest insurance costs, says the new…

Hiscox report shows that “super losses” are becoming more common in the U.S.

March 14, 2012March 14, 2012 Marc

A new report from Hiscox, a specialist health insurance company in the U.S., shows that so called “super losses” are having an impact on the country’s health insurance industry. Super losses is a term that refers to claims that exceed $50 million. The report notes that these costly claims are becoming more common in the health care sector. Because these claims hold such a large price tag, they often find their way to courts. Juries often side with consumers in these cases and in the past two years have awarded…