Becker's Healthcare November 18, 2024
Blue Cross and Blue Shield of Massachusetts reported a $114 million operating loss in the first nine months of the year, partly due to skyrocketing claims for GLP-1 medications.
Five notes:
1. BCBSMA reported an after-tax third quarter net income of $29.2 million on revenue of $2.4 billion (1.21% net margin).
2. Year-to-date, BCBSMA reported an after-tax net income of $27.1 million on revenue of $7.2 billion (0.38% net margin).
3. The company’s operating loss in the third quarter was $19.8 million. Compared to a year ago, Q3 operating income is down $145 million and net income...
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