Blue Cross income jumps on Medicaid business
from Minneapolis Star Tribune
Net income soared last year for Blue Cross and Blue Shield of Minnesota as the Eagan-based health insurer saw a turnaround in its business managing care for beneficiaries in the state's Medical Assistance and MinnesotaCare programs. Minnesota's public health insurance programs weren't the only factor. The Blue Cross financial results also included income in the individual market offset to a degree by expenses related to a big shift in Medicare coverage. While health insurance was more profitable last year, Blue Cross's parent company, which is called Stella, posted an overall loss of $93 million due in large part to slumping investment returns.
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