Excellus Blues plan reports a 50% drop in profits to $59 millionPosted On: Mar. 3, 2023 9:50 AM CST
Excellus BlueCross BlueShield posted $58.9 million in profits in 2022, a 50% decline from 2021, reports Becker’s Payer Issues. The Rochester, New York-based insurer insurer took in $6.6 billion in premiums and spent $5.9 billion on medical costs, the report says. As a nonprofit, the insurer says it aims to operate with small profit margins.