BCBS plans ranked by profit margin in Q3

Elevance Health had the largest profit margin in the third quarter of 2023 among the leading Blue Cross Blue Shield companies, according to a February analysis by Mark Farrah Associates.

The analysis compared year-over-year financial performance for each third quarter from 2020 to 2023 using data from the National Association of Insurance Commissioners and the California Department of Managed Health Care.

As of Sept. 30, BCBS plans control 37% of the domestic health insurance market across all segments, or 119.7 million members. 

The aggregate profit margins for all BCBS plans was 6.1% in Q3 2020, 3.9% in Q3 2021, 3% in Q3 2022 and 3.5% in Q3 2023, with the recent increase driven by improved medical loss ratios and increased investment incomes.

The analysis reviewed profit margin differences between Q3 2022 and 2023 at the leading BCBS companies by revenue: Elevance Health, Health Care Service Corp., Guidewell, Independence Blue Cross and Blue Shield of California.

Elevance Health
Q3 2023: 4.9%
Q3 2022: 5.4%

Q3 2023: 3.9%
Q3 2022: 4.6%

Q3 2023: 2.7%
Q3 2022: 2%

Blue Shield of California
Q3 2023: 1.7%
Q3 2022: -2.1%

Independence Blue Cross
Q3 2023: 1.2%
Q3 2022: 0.9%

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Top 40 articles from the past 6 months