Blue Cross and Blue Shield of Massachusetts reported a net loss of $129.7 million on revenue of $2.6 billion (-4.9% net margin) in the second quarter.
Year-to-date, the company has reported a net loss of $92.6 million on revenue of $5.2 billion (-1.8% net margin).
“The costs of medical care and pharmacy services for our members are rising at a rate we haven’t seen in more than 20 years,” CFO Ruby Kam said Aug. 15. “Spending is up in nearly every category of services – from hospitalizations to drug costs to outpatient visits. All of us in health care must do more to address the incredible strain these rising costs are putting on families and businesses.”
BCBSMA reported a net loss of $223.6 million and a -4.3% operating margin in 2024.
