According to a April 3 news release, the nonprofit payer had an operating margin of 1 percent in 2022. A pre-tax net loss of $291 million was driven by unrealized investment losses, according to the release.
The company ended the year with around 2.5 million members.
The majority of the operating income, $146 million, came from Blue Plus, the company’s Medicaid managed care business. The income reflected “continued high enrollment” in state Medicaid programs because of continuous enrollment requirements in place for the public health emergency.
