Independence Blue Cross reports $156M income in 2022

Independence Blue Cross' operating margins declined in 2022, driven by increased utilization as more members received routine care as the pandemic waned. 

According to an April 5 news release, the nonprofit's net income margin was 0.6 percent, down from 3.3 percent in 2021. Its net income was $156 million. 

"Across healthcare, we are seeing margin compression due to a shifting economy, a complicated industry landscape, and market volatility. We anticipated this and are bolstered by our geographic and product diversity as well as a conservative and consistent investment portfolio," Juan Lopez, Independence Blue Cross' CFO and treasurer, said. 

Independence Blue Cross brought in $27.4 billion in revenue in 2022, up $2.65 billion from 2021, according to the release. The revenue uptick reflects "sustained membership growth" in the payer's Medicaid managed care plan due to continuous enrollment requirements in place during the public health emergency. 

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