Excellus posts $23M year-end loss as net income plummets

Mar 4, 2024 · Excellus last failed to post a profit in 2008, when it ended the year with a net loss of $54 million. The company’s $6.6 billion in premiums collected in 2023, was unchanged from …

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Excellus Posts $23M Year-end Loss As Net Income Plummets

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Mar 4, 2024 · Excellus last failed to post a profit in 2008, when it ended the year with a net loss of $54 million. The company’s $6.6 billion in premiums collected in 2023, was unchanged from …

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Excellus Posts 2023 Net Loss Of $23M After Rise In Insurance Usage

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Mar 14, 2024 · Rochester–based Excellus, Central New York’s largest health insurer, reported the net-loss figure in its annual report filed March 1 with the New York State Department of …

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Excellus Reports Net Loss Topping $23 Million In 2023

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Mar 1, 2024 · The Rochester–based health plan attributes the 2023 net loss primarily to a $271 million increase in medical benefits paid last year. Excellus, like other health insurers …

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Excellus Posts $23M Year-end Loss As Net Income Plummets For

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75K subscribers in the Rochester community. A community subreddit for the city of Rochester, NY and Greater Rochester area.

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Excellus BlueCross BlueShield Reports $23 Million Loss In 2023

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Mar 5, 2024 · Excellus BlueCross BlueShield, the largest insurer in its Rochester New York region, reported a net loss of $23 million in 2023, marking its first annual loss since 2008, …

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Excellus BCBS Posts First Loss In 15 Years

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Mar 5, 2024 · Excellus BlueCross BlueShield reported a net loss of $23 million in 2023, its first loss since 2008, NPR affiliate WXXI reported March 4. Excellus President and CEO Jim Reed …

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Excellus BCBS Posts First Loss In 15 Years - Becker's Payer

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Mar 5, 2024 · Excellus BlueCross BlueShield reported a net loss of $23 million in 2023, its first loss since 2008, NPR affiliate WXXI reported March 4. Excellus President and CEO Jim Reed …

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Excellus BlueCross BlueShield Reports Net Loss In 2023

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Mar 4, 2024 · Excellus BlueCross BlueShield experienced a net loss of $23.2 million in 2023, as revealed in its annual report to the New York State Department of Financial Services. Despite …

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Excellus BCBS Reported Loss Of $23.2M In 2023 - LinkedIn

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Excellus BCBS ended 2023 with a net loss of $23.2 million, against a net income of 0.9 percent, or $58.9 million in 2022, which itself was 50% less than a year before.

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Syracuse.com On LinkedIn: Excellus Reports First Loss In 15 Years.

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Excellus BlueCross BlueShield ended 2023 with a $23.2 million loss, its first loss since 2008, according to its annual report filed Friday with the state Department of Financial Services.

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Excellus Made $60 Million Profit, Paid Four Executives Over

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Mar 1, 2023 · The $58.9 million profit, or net income, was about half the size of the $117.6 million profit the health insurer made in 2021.

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Excellus Reports 50 Percent Drop In Net Income In 2022

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Mar 1, 2023 · The 2022 results amounted to a net income of $40 per member for the entire year, down from $78 in 2021, Excellus said. The health plan last year spent $5.9 billion in medical …

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Breach Cost Excellus $17.3M In 2015 - Democrat And Chronicle

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Mar 3, 2016 · The operating margin was 0.4 percent at $23 million, a turnabout from the $55 million operating loss that Excellus experienced the year before. Net income was 1 percent, or …

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Alexander LiPera On LinkedIn: Excellus Posts $23M Year-end Loss …

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Excellus posts $23M year-end loss as net income plummets for the second straight year

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Excellus’ Annual Financial Report Reveals Pay, Net-income Data

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Mar 14, 2021 · Excellus’ net income fell 43 percent last year from the $171 million it generated in 2019. The Rochester–based nonprofit insurer disclosed the figures in an annual financial …

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FAQs about Excellus posts $23M year-end loss as net income plummets Coupon?

How did Excellus perform in 2022?

For 2022, the company finished with net income of $58.9 million on revenue of $6.6 billion. According to the release, the reports filed March 1 with the State Department of Financial Services by Excellus reported spending $6.2 billion on medical benefits for 1.5 million members, or 93% of each premium dollar collected. ...

How much did Excellus employees make last year?

Here’s how much the 20 highest paid Excellus employees earned last year: James Reed, president & CEO, $2.2 million Christopher M. Gorecki, executive vice president, $1.42 million Barry Thornton, executive vice president, $1.30 million Melissa N. Gardner, executive vice president, $1.08 million Stephen H. Cohen, senior vice president, $609,436 ...

What's going on with Excellus health care?

Excellus Health Care, based in Rochester, pointed to ongoing increases in utilization and higher costs for medical benefits and prescription drugs, including a $271 million increase in medical benefits paid last year. ...

Why does Excellus have a reserve fund?

Because it is a nonprofit, Excellus puts profits into a reserve fund to cover unanticipated higher expenses such as a pandemic. At the end of 2022, Excellus had $1.8 billion in reserves, up from $1.5 billion at the end of 2021. Excellus employs more than 4,000 people in Upstate New York and has $1.5 million members. ...