BCBS companies collectively reported $7.5 billion in net income in the first half of 2023, according to an Oct. 24 report from Fitch Ratings shared with Becker's.
The report includes financial information about 32 of the 33 affiliated BCBS companies, including parent companies of multiple plans such as Elevance Health and Highmark. Reported net incomes at parent companies represent only statutory income from regulated insurance divisions.
Most profitable BCBS companies in first half of 2023:
- Elevance Health (14 plans): $3.2 billion
- Health Care Service Corp. (5 plans): $1.3 billion
- Florida Blue: $408 million
- BCBS Tennessee: $286 million
- Highmark (6 plans): $283 million
- Blue Shield of California: $259 million
- Wellmark BCBS: $208 million
- BCBS Michigan: $206 million
- Independence Blue Cross: $146 million
- BCBS Louisiana: $127 million
- BCBS South Carolina: $120 million
- BCBS Alabama: $108 million
- BCBS North Carolina: $107 million
- Arkansas BCBS: $94 million
- Premera Blue Cross (2 plans): $93 million
- BCBS Arizona: $92 million
- BCBS Minnesota: $86 million
- CareFirst BCBS: $84 million
- Cambia Health Solutions (4 Regence plans): $73 million
- Excellus BCBS: $48 million
- BCBS North Dakota: $46 million
- Blue Cross of Idaho: $40 million
- Capital Blue Cross: $35 million
- BCBS Mississippi: $35 million
- BCBS Nebraska: $30 million
- BCBS Kansas: $12 million
- BCBS Kansas City: $4 million
- BCBS Wyoming: $4 million
- BCBS Vermont: $1 million
- BCBS Rhode Island: $0
- Hawaii Medical Service Association: -$3 million
- BCBS Massachusetts: -$5 million