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At least seven Blue Cross Blue Shield companies reported a financial loss in 2024, citing rising medical utilization and drug costs. Seven BCBS plans reporting losses in 2024: BCBS Michigan reported an operating loss of $1.7 billion and an operating…

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Blue Cross Blue Shield of Michigan reported a loss of $1.02 billion on enterprise revenue of $40.6 billion in 2024, driven by rising utilization of expensive medical services and costs for prescription and specialty drugs.

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