BCBS companies ranked by total revenue in first half of 2023

BCBS companies collectively reported $214.8 billion in revenue in the first half of 2023, according to an Oct. 24 report from Fitch Ratings shared with Becker's.

The report includes financial information about 32 of the 33 affiliated BCBS companies, including parent companies of multiple plans such as Elevance Health and Highmark. Reported revenues at parent companies represent only statutory revenue from regulated insurance divisions.

BCBS companies ranked by total revenue in first half of 2023:

  • Elevance Health (14 plans): $65.2 billion
  • Health Care Service Corp. (5 plans): $28.1 billion
  • Florida Blue: $14.4 billion
  • Independence Blue Cross: $14.3 billion
  • Blue Shield of California: $11.5 billion
  • Highmark (6 plans): $11.1 billion
  • BCBS Michigan: $9 billion
  • BCBS North Carolina: $5.7 billion
  • CareFirst BCBS: $5.6 billion
  • BCBS Massachusetts: $4.7 billion
  • BCBS Tennessee: $4.7 billion
  • BCBS Minnesota: $4.2 billion
  • BCBS Alabama: $4.2 billion
  • Cambia Health Solutions (4 Regence plans): $3.7 billion
  • Excellus BCBS: $3.5 billion
  • BCBS South Carolina: $3 billion
  • Premera Blue Cross (2 plans): $2.5 billion
  • BCBS Louisiana: $2.4 billion
  • Wellmark BCBS: $2.3 billion
  • Hawaii Medical Service Association: $2.1 billion
  • Arkansas BCBS: $2.1 billion
  • BCBS Arizona: $1.6 billion
  • BCBS Kansas: $1.2 billion
  • Blue Cross of Idaho: $1.2 billion
  • BCBS Kansas City: $1.2 billion
  • Capital Blue Cross: $1.1 billion
  • BCBS Rhode Island: $1 billion
  • BCBS Nebraska: $891 million
  • BCBS North Dakota: $834 million
  • BCBS Mississippi: $732 million
  • BCBS Vermont: $308 million
  • BCBS Wyoming: $304 million

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