Page 7 - மிச்சிகன் ஆரோக்கியம் ஆஸ்தி நிதி News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Playworks Michigan Announces Coalition for Michigan Schoolchildren s Right to Play
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Newberry hospital takes steps to better assist adolescents with depression
sooeveningnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sooeveningnews.com Daily Mail and Mail on Sunday newspapers.
Blue Cross posts lowest operating profits in 4 years amid COVID-19 pandemic
modernhealthcare.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from modernhealthcare.com Daily Mail and Mail on Sunday newspapers.
Strong investment returns helped Blue Cross and Blue Shield of Michigan weather a turbulent 2020 with a $120 million operating margin, less than 1% of the company s $30.1 billion in total revenue, insurance officials said Monday during the company s annual financials briefing.
The state s largest health insurer reaped a positive return of $724 million from its conservatively invested portfolio of stocks and bonds, said Paul Mozak, senior vice president of finance and chief risk officer for Blue Cross.
Throughout the pandemic, the company maintained its rating in Best s Rating Report of A with a stable outlook. The complete and audited 2020 financial statement will be released in the company’s annual report in May.
Blue Cross posts lowest operating profits in 4 years amid COVID-19 pandemic
Investment portfolio gains of $724 million stabilized business
Company total margins dropped to 2.1 percent from 2.7 percent in 2019
Blue Cross Blue Shield of Michigan experienced a 52 percent drop in operating profits in 2020, illustrating the challenges the state s largest health insurer faced during the beginning of the COVID-19 pandemic.
The nonprofit mutual health insurer reported $120 million in operating income last year, the lowest amount in four years, compared with $248 million in 2019,
But strong investment income gains of $724 million from company s conservatively invested portfolio of stocks and bonds led to after-tax net income of $646 million on $30.1 billion in revenue, a 2.1 percent total margin. Blue Cross earned $603 million on its portfolio investments in 2019.