Navigation Links
Blue Cross and Blue Shield of Minnesota Releases 2007 Financial Results
Date:4/17/2008

EAGAN, Minn., April 17 /PRNewswire/ -- Blue Cross and Blue Shield of Minnesota (Blue Cross) today released its financial results for 2007. The company reported an overall net gain of 0.3 percent ($25.1 million) on full-year revenues of $8.4 billion, with $7.7 billion in medical claims costs. Investment income offset $104 million in operating losses. Blue Cross remains financially strong with statutory reserves equal to nearly three months of claims and operating expenses.

More than 90 cents of every health care dollar collected by Blue Cross in 2007 went to pay for members' health care costs. Administrative expenses -- including taxes, assessments, agent fees, member health-improvement initiatives and cost containment programs -- accounted for 9.5 cents per dollar. Additionally, Blue Cross paid a total of $77 million in taxes and assessments.

"As a nonprofit organization, Blue Cross strives to hold sufficient financial reserves to assure we honor our promises to provide coverage for our members, while keeping premiums as affordable as possible," said Michael Morrow, executive vice president and chief financial officer. "In 2007, positive returns on our investments in stocks and bonds allowed us to cover all costs and support continuing investment in better products and services for our members, such as our expanded suite of Medicare products and the new Simply Blue program for individual members."

"At the same time, our operating losses reflect the continually rising costs of medical care. Blue Cross paid out more money for care than we collected in premiums. For 2008, we have implemented new cost-savings programs, but have also had to adjust revenues to reflect the rising costs of care. We're on track to break-even on an operating basis in 2008."

Enrollment gains

Overall plan enrollment increased approximately 186,000 in 2007 to 2.9 million (2,893,229) members. Membership among consumer-directed health plans saw strong grow
'/>"/>

SOURCE Blue Cross and Blue Shield of Minnesota
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2

Related medicine news :

1. Better Hearing Institute Kicks Off the Across America Hearing Check Challenge for Better Hearing and Speech Month, Bringing Better Quality of Life Back to Millions of Americans
2. Anthem Blue Cross and Blue Shield Celebrates Local Moms-to-Be at Community Baby Shower
3. Iridium(R) Satellite, ProtectingAmerica.org and the American Red Cross Partner to Educate First Responders on Importance of Testing Satellite Phones
4. Consumer Watchdog Applauds L.A. City Attorneys Efforts to Reinstate Cancelled Blue Cross Patients; Urges State HMO Regulator to Immediately Reinstate Coverage
5. Consumer Watchdog Applauds L.A. City Attorneys Efforts to Reinstate Cancelled Blue Cross Patients; Urges State HMO Regulator to Do Same
6. Anthem Blue Cross Employee Assistance Program to Help Reduce Employee Absenteeism
7. Laura Loughridge Wargo Named Chief Development Officer for American Red Cross - Southeastern Michigan Chapter
8. Blue Cross Blue Shield of North Carolina Implements Aggressive Generic Medication Campaign
9. Using HR Performance Metrics to Drive Costs Down Across HR Functions
10. Cedar Point to Host 17th Annual Red Cross Miniature Golf Event
11. Two Men to Walk Across America for Autism Aid, Awareness, and Loving Memory of Young Boy
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/2/2015)... 2015 “ ActOn ” was featured on ... look at the latest and coolest applications on the market ... AppWatch and technology expert, conducted the app review and shared ... with organizations to make a difference. , In this material ... things that aren’t about money, which is why those things ...
(Date:5/2/2015)... “ Peachtree Audio ” was featured on NewsWatch ... the latest and coolest technology products available to consumers. ... NewsWatch, conducted the review and shared with viewers how ... is an important part of people’s lives – and ... royal treatment. Peachtree Audio does just that with high-end ...
(Date:5/2/2015)... ZoomCare, the Portland-based innovator of on-demand ... offer its new healthcare insurance to individuals and small ... Insurance System is the nation’s first health insurance system ... ZOOM+ Personal Health Insurance was ZoomCare’s first such filing ... subject to review and regulation by the Oregon Insurance ...
(Date:5/1/2015)... 01, 2015 Pioneer Millworks, the largest ... latest in their reclaimed wood products at the 27th ... Javits Center in NYC this May. Their newest offerings, ... much anticipated texture and color to North America's platform ... of texture and color in the design world and ...
(Date:5/1/2015)... TROY Healthcare Solutions is proud to ... Group (RUG) Conference in Atlanta, GA from May 6 ... Conference provides a forum for client-to-client presentations, continuing education ... of electronic medical record operations, as well as showcasing ... In addition to sponsoring the event, TROY Healthcare Solutions ...
Breaking Medicine News(10 mins):Health News:An Application to Help People Make a Difference Was Featured on NewsWatch Television 2Health News:Affordable High-End Audio Equipment was Featured on NewsWatch Television 2Health News:ZoomCare Applies to be on Oregon Exchange 2Health News:Intensely Textured Reclaimed Wood to be Unveiled at ICFF in NYC by Pioneer Millworks 2Health News:Intensely Textured Reclaimed Wood to be Unveiled at ICFF in NYC by Pioneer Millworks 3Health News:TROY Healthcare to Exhibit at the Cerner Southeast Regional User Group Conference 2Health News:TROY Healthcare to Exhibit at the Cerner Southeast Regional User Group Conference 3
... know how people become addicted and why they keep using ... 75 patients hospitalized for opioid detoxification told University at Buffalo ... pain. , Another 24 began with a friend,s left-over ... remaining 20 patients said they got hooked on street drugs. ...
... S) is a gas more commonly associated with the smell ... been shown to be present naturally in our bodies and ... in the cavities of joints that reduces friction between the ... may play a role in reducing inflammation in joints. ...
... 2010) -- Casual smokers may think that smoking a few ... new research from physician-scientists at NewYork-Presbyterian Hospital/Weill Cornell Medical Center, ... may be doing more harm than people may think. The ... According to a new study published today in the ...
... at an increased risk of prostate cancer diagnosis because of ... genetic mutation that increases risk of the disease, according to ... of the National Cancer Institute. Family history ... other cancers and many epidemiological studies have shown an increased ...
... successful report of using cell-depleted lung as a natural growth ... is presented in a breakthrough article in Tissue Engineering ... Liebert, Inc. ( www.liebertpub.com ). The article is available free ... have the potential to mature into virtually any type of ...
... Steven Reinberg HealthDay Reporter , THURSDAY, Aug. 19 ... a massive recall of eggs linked to salmonella contamination dramatically ... The nationwide salmonella outbreak, which federal officials said was ... has sickened more than 250 people in at least four ...
Cached Medicine News:Health News:Drug addicts get hooked via prescriptions, keep using 'to feel like a better person,' research shows 2Health News:Drug addicts get hooked via prescriptions, keep using 'to feel like a better person,' research shows 3Health News:'Rotten eggs' gas and inflammation in arthritic joints 2Health News:'Rotten eggs' gas and inflammation in arthritic joints 3Health News:Cigarette smoke causes harmful changes in the lungs even at the lowest levels 2Health News:Brothers of prostate cancer patients undergo more diagnostic activities 2Health News:Natural lung material is promising scaffold for engineering lung tissue using embryonic stem cells 2Health News:Nationwide Recall of Eggs Linked to Salmonella Expanded 2Health News:Nationwide Recall of Eggs Linked to Salmonella Expanded 3
(Date:5/1/2015)... 1, 2015   Intarcia Therapeutics, Inc. today ... as Vice President, Human Resources, reporting directly to ... a new key member of the senior leadership team, ... Leadership Team to assure the Company advances its business, ... its core values and its dynamic culture. Another essential ...
(Date:5/1/2015)... MOUNTAIN VIEW, Calif. , May 1, 2015 /PRNewswire/ ... the United States launch of ... an integrated, fast and easy system for exosome collection ... International Society for Extracellular Vesicles ("ISEV") Annual Meeting, April ... , D.C.  Both products are intended for research use ...
(Date:5/1/2015)... Following yesterday,s release of Center for Medicaid and Medicare services ... need to know: ... programs. , As ... of Medicare and other government programs because it relies on ... drug benefits to enrollees. , Competition and rebates have ...
Breaking Medicine Technology:Intarcia Appoints James P. Brady Vice President, Human Resources 2Intarcia Appoints James P. Brady Vice President, Human Resources 3Intarcia Appoints James P. Brady Vice President, Human Resources 4New Products for Exosome Isolation to mRNA Purification 25 Things to Know About the CMS Part D Data Release 25 Things to Know About the CMS Part D Data Release 3
... , , ... SILVER SPRING, Md. , Jan. 18 The ... a counterfeit and potentially harmful version of Alli 60 mg ... ) , Preliminary laboratory tests conducted by GlaxoSmithKline (GSK) -- ...
... , Kidney Care Partners, Members Provide Dialysis Equipment, ... Access to Life-Saving Treatment , PORT-AU-PRINCE, Haiti ... an earthquake that has devastated this Caribbean country, ... of millions of dollars as well as dialysis equipment, medications, ...
Cached Medicine Technology:FDA Warns Consumers about Counterfeit Alli 2FDA Warns Consumers about Counterfeit Alli 3U.S. Kidney Dialysis Community Responds to Haiti's Emergency Plea for Life-Saving Dialysis Care 2U.S. Kidney Dialysis Community Responds to Haiti's Emergency Plea for Life-Saving Dialysis Care 3
Finstruments 96 well washer and Cellwasher. Multi-function with touch programmable display....
... plus simple operation especially ... efficient washing of cells. ... with minimum loss of ... membrane bound labels and ...
The Finstrip 4 is an effective and reliable microplate washer offering high performance, simplicity and ease of use....
... PW 384 has set a standard for ... plates. The instrument not only processes all ... washing to further boost wash performance. This ... short wash times as no transport steps ...
Medicine Products: