The insurer’s Medicare Advantage business lost more than $200 million in 2024 due to wage index changes and an increase in healthcare costs, including prescription drugs.
In 2023, Excellus reported a net loss of $23 million. The company has 1.43 million total members.
At the Becker's 5th Annual Fall Payer Issues Roundtable, taking place November 2–3 in Chicago, payer executives and healthcare leaders will come together to discuss value-based care, regulatory changes, cost management strategies and innovations shaping the future of payer-provider collaboration. Apply for complimentary registration now.