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Blue Cross Blue Shield of Michigan lost money providing health insurance to its members in 2021 due to the COVID-19 pandemic.The Detroit nonprofit insurer reported a $374 million operating loss thanks to $860 million in costs from COVID-19 treatments and testing, BCBSM reported Tuesday.However, the…
Michigan's health insurance giant had a positive financial year after using gains from investments and subsidiaries to cover underwriting losses.
View Comments Former Detroit Lions quarterback Eric Hipple’s been through hell and back as he shares his story of depression, his son's death by suicide, his own recovery and his current role as advocate and champion for mental health and wellness. He’s given thousands of speeches across the country before veterans, students, businesses and organizations. He’s much in demand as he talks up the importance of people focusing on their mental health as they do their physical health. As we take note of Mental Health Awareness Month, it’s a message needed more than ever as this pandemic h...
Plans for East Warren/Cadieux area include primary care center, revitalizing business corridor and recreation areas City of Detroit A rendering shows changes planned for East Warren Avenue as part of the city of Detroit's public-private Strategic Neighborhood Fund program. A Miami-based primary care provider will open a clinic in Detroit's East Warren/Cadieux area, which the city is targeting for new investment under the Strategic Neighborhood Fund. The city of Detroit gave an overview at 6 p.m. Monday of plans for revitalizing streets, commercial strips and housing in three east-side neighb...
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 investmen...