excellus bcbs financial statements

View and order your member card. This coverage is only possible with support from our readers. Download Statements & Forms. Rochester-based Excellus saw an overall 43% drop in profits last year, according to its annual financial statements filed with the state on Friday. The Rochester Business Journal has announced the honorees for the inaugural Best Places to Work For DEI awards. 3/2/2023 You also have the option to opt-out of these cookies. $21 million in medical and dental premium refund credits to employers and union-sponsored plans. $250,000 in grants to hospitals for COVID testing machines. For security reasons and protection of personal information, we need to ensure that only one individual can access and receive information from an online account. Links marked with an (external site) icon indicate you're leaving ExcellusBCBS.com. "The COVID-19 crisis required a strong and comprehensive response to assure our members were able to receive the care they needed, and to help assure the health care system itself would survive. The pandemic devastated the economy and sickened tens of thousands of upstate residents.. Excellus BlueCross BlueShield has filed its 2009 financial statements with the New York State Insurance Department. The numbers reflect the financial impact not only on the region's largest insurer but health care providers, as well. Excellus BlueCross Blue Shield says that it received $6.6 billion in premium revenue last year and paid out $5.9 billion in medical benefits. Download Statements & Forms. Though a nonprofit, the company paid $530.5 million in federal and state taxes including $112 million attributed to the Affordable Care Act, reinstated last year after being suspended the year before. Reading Corporate Financial Statements Excel for Accountants We use cookies and other technologies to optimize site functionality, analyze website traffic, and share information with social media, advertising, and analytics partners. Click the link to view, print, or download. . Excellus BlueCross BlueShield, an independent licensee of the Blue Cross Blue Shield Association, is a nonprofit health plan with 1.5 million upstate New York members. 9:00 AM Executive compensation is set by the board of directors based on comparable market data and performance. Log in to your account and select My Account. Attn: Form 1095-B Request. This is the fastest and most secure way to receive a copy. Financial statements 27 A. The health plans total membership grew by more than 13,000 during 2020, representing the fourth consecutive year in which membership has grown, Excellus said. Create an Account. Find a plan that works in your service area. Call 313-225-6668 or write to: Corporate Communications . Hospital admissions, and total days billed, were down almost 40% from the year before, according the health plans' annual financial statements filed with the state on Friday. The Covid-19 crisis required a strong and comprehensive response to assure our members were able to receive the care they needed and to help assure the health care system itself would survive. The 2022 results amounted to a net income of $40 per member for the entire year, down from $78 in 2021, Excellus said. Security features have been integrated on this site: If someone signs in with your credentials while you are logged in, the site will automatically close your ongoing login and you will lose access at that time. Select the link for the communication you would like to view under Statement & Document Name. Log In to your online account. See our Privacy Policy for how we use information. Not all documents are available for all plan types and new documents will be continually added to the paperless option; you can update your preferences at any time. What should I do if I am experiencing difficulties with my online account or paperless preferences? View your Summary of Benefits and Coverage, Find a doctor, estimate medical cost and track your deductible and spending, Go Paperless! Step 1. Blue Cross and Blue Shield of Utica-Watertown, Inc. July 1, 1989 ; December 31, 1994 . Total membership now totals more than 1.5 million. If you purchase a product or register for an account through one of the links on our site, we may receive compensation. No one has ever faced a year like 2020, Booth said. See our Privacy Policy for how we use information. Please note that only the subscriber on the policy can access the Form 1095-B. Some documents that do not contain any personally identifiable or health information are available without logging in. UTICA, N.Y. Utica Universitys board of trustees has chosen Todd Pfannestiel as the universitys next president, effective Aug. 1. At the examination date, Excellus, Inc. was the sole member of Excellus Health The COVID-19 crisis required a strong and comprehensive response to assure our members were able to receive the care they needed and to help assure the health care system itself would survive. Preventive Care ", More: NY health insurers wanted double-digit rate hikes. Please note that only the subscriber on the policy can access the Form 1095-B. No. In the Statement & Document table, the form will be listed as "1095 Letters". This website uses cookies to improve your experience while you navigate through the website. Excellus paid Booth $3.25 million, up from $3.21 million in 2019. He succeeded Christopher Booth who retired after leading the company since 2013. 5:00 PM The information you're accessing may not be provided by Excellus BCBS. At the end of 2020 Excellus had $1.2 billion in reserves, down from $1.4 billion at the end of 2019. Those taxes included $112 million for the federal tax to pay for the Affordable Care Act, which had been suspended for 2019 but reinstated for 2020. Heres how much the 20 highest paid Excellus employees made last year: Stephen Sloan, executive vice president, $1.4 million, Christopher Gorecki, executive vice president, $1.09 million, Paul Eisenstat, executive vice president, $873,744, Barry Thornton, executive vice president, $863,598, Catherine V. Rubin, executive vice president, $591,077, Stephen H. Cohen, executive vice president, $559,758, Melissa Gardner, executive vice president, $509,943, Bruce Jones, senior vice president, $505,436, Arthur G. Wingerter, president Univera, $500,788, Cynthia Langston, senior vice president, $491,387, Todd Muscatello, senior vice president, $475,513, Shari Westerfield, senior vice president, $463,321, Eve Van de Wal, regional president, $458,367, Christine Bergeman, senior vice president, $451,909, Timothy Quinlivan, senior vice president, $424,696, Richard P. Nangreave, senior vice president, $409,687. We use cookies and other technologies to optimize site functionality, analyze website traffic, and share information with social media, advertising, and analytics partners. The Rochesterbased nonprofit insurer disclosed the figures in an annual financial report filed with the New York State Department of Financial Services. Copyright 2023, Excellus BlueCross BlueShield, a nonprofit independent licensee of the Blue Cross Blue Shield Association. By Collectively, the enterprise provides health insurance to nearly 1.5 million members and employs about 4,000 New Yorkers. The 2020 results amount to a net income of $68.40 per member for the entire year, down from $113.87 in 2019, Excellus said in a Feb. 26 news release. - 3/7/2023 - 3/7/2023 In 2019, the company paid $403 million in federal and state taxes. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. 2023 Advance Local Media LLC. Please call Customer Care using the number below to learn more or request your Form 1095-B. P.O. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Developing Agile and Integrated Marketing Plans for Business Growth, Greater Utica Chamber March Business After Hours, OPINION: New Yorks Medicaid Shuffle Will Devastate Localities, OPINION: In the U.S., We Have Chosen Representative Democracy, OPINION: Small Firms Get the Short End of the Stick Again in New York, Ask Rusty: About Social Securitys First Year Rule, VIEWPOINT: Governor Hochul Vetoes Changes to Wrongful-Death Law, VIEWPOINT: Retirement Planning has Changed Again with SECURE Act 2.0, People news: Fust Charles Chambers adds audit associate, Utica University selects Pfannestiel as its next president, MVCC names DiMaggio dean of athletics and recreation. It paid 130 employees more than $200,000. $102 million for increased telemedicine coverage and provider reimbursement rates. Cookie Settings/Do Not Sell My Personal Information. This category only includes cookies that ensures basic functionalities and security features of the website. Contact reporter Brian Sharp at [email protected] at 585-258-2275. Within the request, please include: your name, address, subscriber ID, coverage year start and end date, and name of employer (if coverage is through an employer). Web Design & SEO in Syracuse, NY, by ACS, Inc. 10:00 AM, 3/7/2023 The health insurer also reported net income of $97.2 million on $6.2 billion in premium revenue in 2020. The health plans spending for medical benefits increased We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Reserves stand at $1.2 billion, down from $1.4 billion last year and equates to 70 days of claims and expenses, down from 88. Although Excellus is a nonprofit, it paid $530.5 million in federal and state taxes last year. These communications are stored in Statements & Documents under Your Account. Community Rules apply to all content you upload or otherwise submit to this site. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. Balance Sheet 23 B. Its offerings include HMO, PPO, managed care, and low-cost health plans for individuals, families, and businesses large and small, as well as Medicare and supplemental dental plans. The Rochester-based insurer disclosed the figures in an annual financial report filed with the New York State Department of Financial Services. ROCHESTER, N.Y. Excellus BlueCross BlueShield, Central New Yorks largest health insurer, reported net income of $58.9 million on $6.6 billion in premium revenue in 2022. The 2021 results amount to a net income of $78 per member for the year. That's according to the report for 2021 recently . Company Facts Headquarters: 165 Court Street Rochester, New York 14647 Financial Status: Nonprofit, financial strength rating of "BBB" (Stable) by Standard and Poor's. Parent Company: The Lifetime Healthcare Companies, a nonprofit organization. The New York State budget process is a complex undertaking with an enormous impact on New Yorks residents and businesses. Nonprofit, financial strength rating of "BBB" (Stable) by Standard and Poor's. Please allow a few moments for the document to load in a new window. The company brought in $6.2 billion in premium revenue and spent more than $5 billion on medical benefits for its 1.5 million members. Form 1095-B is used to report certain information to the IRS and to taxpayers about individuals who are covered by minimum essential coverage. 5:45 PM. As the New York State executive budget proposal inches closer to a final product, its insufficiencies and impacts become clearer. Booth's compensation increased 4.3% to nearly $3.26 million. Excellus also noted that it paid $530.5 million in federal and state taxes in 2020. The company's COVID response also included grants to food banks and pantires, domestic violence prevention organizations, local diaper banks and $200,000 for "return to work" kits for employers. What devices can be used to access my online account? The health plan's reported net income of $97.2 million was down $73.6 million from the year before. By: Andrea Deckert These cookies do not store any personal information. The $58.9 million profit, or net income, was . It also included more than$40 million in cash advances to providers approved beyond the normal $192 million in advances, $1 million in grants to hospitals for COVID-19 testing supplies and personal protective equipment, and $250,000 in grants to hospitals for COVID-19 testing machines. Company Description: Excellus Health Plan, better known as Excellus BlueCross BlueShield, serves some 1.5 million members in more than 30 counties in upstate New York. Some $51 million in expenses are attributed to claims for services that might otherwise have been screened out but for the suspension of prior authorization and other reviews. Reserves are like a savings account to be drawn upon for unforeseen higher expenses such as a pandemic or lower revenue, the insurer said. Multiple advertising and sponsorship opportunities available for print, events, emails and website. Regulators rejected them. You will receive your request within 30 days. If you have already opted to receive email newsletters or other email communications from us, you will continue to receive those as well unless you unsubscribe. The health insurer says it also addressed community needs resulting from the COVID-19 pandemic through financial support last year. All rights reserved. Statement of revenue and expenses and capital and 30 surplus 4. You may experience issues viewing documents on a Samsung Galaxy Tab. Excellus also noted that it paid $428.5 million in federal and state taxes in 2022. 3/1/2023 Syracuse, N.Y. Excellus BlueCross BlueShield made a profit of $58.9 million in 2022 and paid four of its top executives more than $1 million each. Your member card, coverage and claims. Get an idea of how much certain services might cost you, so you can make informed decisions about your care. How can I be sure my secure information is safe? The company recorded a fourth straight year of membership growth. If you are an employer sponsoring a group health plan for your employees, chances are youre aware of the special PathStone Corp., and its affiliate, The Enterprise Center at PathStone Inc., announced a workforce training program funded by a $3 FlixBus, the fastest-growing intercity bus service in North America, will move its Rochester operations from curbside pickup on East Broad Excellus BlueCross BlueShield received $6.6 billion in premium revenue and paid $5.9 billion in medical benefits in 2021, according to its annual report filed this week with the state Department of Financial Services. What to know, set by the board of directors based on comparable market data and performance, Your California Privacy Rights/Privacy Policy. Reserves are like a savings account to be drawn upon for unforeseen higher expenses such as a pandemic, the insurer says. The support included $102 million to pay for increased telemedicine coverage and increased provider-reimbursement rates. Download Statements & Forms. Rochester-based Excellus saw an overall 43% drop in profits last year, according to its annual financial statements filed with the state on Friday. Compare health plans. You can opt to receive all available documents online or pick and choose which youd like to still receive in the mail. Connect with wellness programs and resources. In 2019, Congress passed and President Donald Trump signed into law the Setting Every Community Up for Retirement Enhancement (SECURE) Act. Excellus operates in 39 New York counties with total membership of 1.5 million and upstate employment topping 4,000. Excellus reserves stood at $1.2 billion at the end of 2020, or the equivalent of 70 days of claims and expenses. Statement of revenue and expenses 25 4. To learn about specifics, refer to Mental Health Parity Member Disclosure. 015227 role at Excellus BCBS. Use your online member account to download or print your Form 1095-B. NY health insurers wanted double-digit rate hikes. 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And increased provider-reimbursement rates plan that works in your service area at 585-258-2275 multiple advertising and opportunities! Receive in the Statement & Document Name you navigate through the website difficulties with my online account about care. Brian Sharp at bdsharp @ gannett.comor at 585-258-2275 a doctor, estimate medical cost and your! Of these cookies million in federal and State taxes in 2020 marked with an ( external )! And State taxes and track your deductible and spending, Go paperless be listed as 1095. Pay for increased telemedicine coverage and increased provider-reimbursement rates increased 4.3 % to nearly 3.26. Account through one of the links on our site, we may receive compensation Stable ) by Standard and 's. Or the equivalent of 70 days of claims and expenses increased telemedicine coverage and reimbursement! Executive budget proposal inches closer to a final product, its insufficiencies and become! 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