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Blue Cross & Blue Shield Association companies collectively reported $7.5 billion in net income in the first half of 2023, according to a report from Fitch Ratings Inc., Becker’s Payer Issues reports. The five most profitable BCBS companies in the first six months were: Elevance Health Inc., with 14 plans and $3.2 billion in net income; Health Care Service Corp., with 5 plans, $1.3 billion; Florida Blue, $408 million; BCBS of Tennessee, $286 million; and Highmark, with 6 plans, $283 million.
1. Humana to cut Medicare Advantage benefits amid rising costs
2. Walmart to shut down health clinics due to unprofitability
3. UnitedHealth faces scrutiny over size, operations, and cyberattack
4. Cigna writes off $1.8 billion from VillageMD investment amid losses
5. Cigna to offer biosimilar Humira with zero out-of-pocket costs
6. Tennessee, 16 states sue EEOC over pregnancy accommodation rule