Ore. insurer bleeds $117M on individual marketplace

Premera Blue Cross has reported a whopping $117.5 million loss on individual health plans in 2015, reports Puget Sound Business Journal.

Losses are up significantly since 2014, when Premera reported a $3.3 million loss on individual marketplaces. Earlier this month, Premera said it will stop selling individual plans under the Premera name and its subsidiary, Lifewise, in 12 counties in Washington, as it scrambles to offset financial deficits. 

The insurer confirmed it has laid off about 165 employees since last November in a strategic restructuring of the organization.


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