excellus bcbs financial statements

Excellus reserves stood at $1.8 billion at the end of 2022, or the equivalent of 100 days of claims and expenses. 165 Court Street This is the fastest and most secure way to receive a copy. Web Design & SEO in Syracuse, NY, by ACS, Inc. Excellus reports 50 percent drop in net income in 2022, 3/2/2023 Already a paid subscriber but not registered for online access yet? 7:00 PM, 3/8/2023 015227 role at Excellus BCBS. ", More: NY health insurers wanted double-digit rate hikes. 2023 Advance Local Media LLC. We use cookies and other technologies to optimize site functionality, analyze website traffic, and share information with social media, advertising, and analytics partners. Form 1095-B is used to report certain information to the IRS and to taxpayers about individuals who are covered by minimum essential coverage. Select Paperless Settings . To learn about specifics, refer to Mental Health Parity Member Disclosure. All rights reserved. By: Andrea Deckert For Unlimited Access to cnybj.com, please sign up for any of our subscription options or login to your account for full online access to Central New York's best source for business news, research, and events. View your Summary of Benefits and Coverage, Find a doctor, estimate medical cost and track your deductible and spending, Go Paperless! To inquire about group subscriptions or an enterprise site license for your organization, contact a Group Subscription Coordinator. Download Statements & Forms. 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). Contact reporter Brian Sharp at bdsharp@gannett.comor at 585-258-2275. 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. NY health insurers wanted double-digit rate hikes. The Rochesterbased nonprofit disclosed the figures in an annual financial report filed with the New York State Department of Financial Services. In the Statement & Document table, the form will be listed as "1095 Letters". Step 3. Please allow a few moments for the document to load in a new window. All rights reserved (About Us). If you feel your login credentials are being used by a second party, contact customer service at 877-615-9536 or email [emailprotected] for assistance in changing your password. What devices can be used to access my online account? Rochester-based Excellus saw an overall 43% drop in profits last year, according to its annual financial statements filed with the state on Friday. CEO Christopher Booth was paid a salary of more than $3.2 million; Stephen Sloan, chief administrative officer and general counsel earned more than $1.4 million; and CFO Christopher Gorecki received more than $1 million in 2020. Eric Reinhardt (ereinhardt@cnybj.com), Date: See our Privacy Policy for how we use information. Excellus also noted that it paid $428.5 million in federal and state taxes in 2022. Health Insurance Plans for Excellus BCBS Member. Find a plan that works in your service area. Excellus annual financial report reveals pay, net-income data. while benefits paid dipped slightly to $5.2 billion, records show. Its simple. 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 support included $102 million to pay for increased telemedicine coverage and increased provider-reimbursement rates. He succeeded Christopher Booth who retired after leading the company since 2013. Community Rules apply to all content you upload or otherwise submit to this site. This website uses cookies to improve your experience while you navigate through the website. Excelluss net income declined 50 percent from the $117.6 million the health insurer generated in 2021. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. The health plan last year spent $5.9 billion in medical benefits for its 1.5 million members. Step 2. $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. Numerous vendors supply free email addresses if you require one to setup an online account for yourself or one of your dependents. The Rochesterbased nonprofit insurer disclosed the figures in an annual financial report filed with the New York State Department of Financial Services. View and order your member card. Health Insurance Plans | Excellus BlueCross BlueShield COVID-19: Stay informed on vaccines, testing coverage and more Your Member Account It's here when you need it. $3 million for aincreased reimbursement, as required, for COVID-19 hospital admissions. 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. For your safety, all documents and statements that contain any personal information require you to log in with your username and password in order to access them. Compare health plans. (Mine is up, btw.) Excellus also noted that it paid $530.5 million in federal and state taxes in 2020. See our Privacy Policy for how we use information. This content is for subscribers only. Blue Cross Blue Shield of Michigan. It is mandatory to procure user consent prior to running these cookies on your website. The year 2022 marked Jim Reeds first full year as CEO and president, Excellus said. We have audited the consolidated financial statements of Blue Cross Blue Shield of Michigan Mutual Insurance Company and its subsidiaries, d/b/a Blue Cross Blue Shield of Michigan (the "Corporation"), White, executive vice president, $566,854, Richard P. Nangreave, senior vice president, $559, 945, Todd A. Muscatello, senior vice president, $557,257, Shari A. Westerfield, senior vice president, $548,505, Arthur G. Wingerter, president Univera, $535,216, John N. Kompare Jr., senior vice president, $519,228, Christine Barnes, senior vice president, $518,101, Michael S. Burke, vice president $513,062, Aaron R. Bertram, vice president, $506,831, Brenda A. Rigas, senior vice president, $502,289, Eve M. Van de Wal, regional president, $501,169, Robert Wendler, senior vice president, $483,672, Mona Chitre, chief pharmacy officer, $463,320, James T. Mulder covers health. Excellus BlueCross BlueShield has filed its 2009 financial statements with the New York State Insurance Department. The 2021 results amount to a net income of $78 per member for the year. Request a copy of the Form 1095-B by mailing the address below. Excellus appointed Reed to lead the health plan and its parent company, The Lifetime Healthcare Companies in May 2021. Call 313-225-6668 or write to: Corporate Communications . If you purchase a product or register for an account through one of the links on our site, we may receive compensation. The company recorded a fourth straight year of membership growth. Have a news tip? James T. Mulder covers health and higher education. 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. Click Here to register. . Tealeaf code added thru script to this page, Health Insurance Plans for Excellus BCBS Medicare Member, Stay informed on vaccines, testing coverage and more. Excellus BlueCross BlueShield, headquartered in Rochester, NY, is part of a $6 billion family of companies that finances and delivers health care services across upstate New York and long term care insurance nationwide. Web Design & SEO in Syracuse, NY, by ACS, Inc. In 2019, Congress passed and President Donald Trump signed into law the Setting Every Community Up for Retirement Enhancement (SECURE) Act. The health plan's reported net income of $97.2 million was down $73.6 million from the year before. 7:00 PM. Subscribers to The Rochester Business Journal can access the digital edition archive. Find a doctor, estimate medical cost and track your deductible and spending. Thats a fundamental feature of public life in the United States, a part of who we are as a people. 3/14/2021 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. The paperless documents currently available are: Monthly Health Summary, Prescription Drug Summary, Health Screening Reminder, Understanding & Managing Your Condition, Preventing & Managing Conditions Newsletter, Annual Health & Wellness Guide, 1095-B Tax Form, and Rates Notices. The pandemic devastated the economy and sickened tens of thousands of upstate residents.. Some documents that do not contain any personally identifiable or health information are available without logging in. What to know, set by the board of directors based on comparable market data and performance, Your California Privacy Rights/Privacy Policy. If you purchase a product or register for an account through one of the links on our site, we may receive compensation. Excellus BlueCross BlueShield provides hospital, surgical-medical, major medical/comprehensive, dental and prescription drug coverage within the Rochester, New York Statement of revenue and expenses 25 4. An itemized list of COVID-related expenses paid out byExcellus BlueCross BlueShield last year provides a unique accounting of the pandemic across the region. Although Excellus is a nonprofit, it paid $530.5 million in federal and state taxes last year. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. 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. Executive compensation is set by the board of directors based on comparable market data and performance. - 3/2/2023 Statement of revenue and expenses and capital and 30 surplus 4. ROCHESTER, N.Y. Excellus BlueCross BlueShield, Central New York's largest health insurer, reported net income of nearly $171 million, on $6 billion in premium revenue, in 2019. The Rochester-based insurer disclosed the figures in an annual financial report filed with the New York State Department of Financial Services. You can opt in to receive email notifications when your member statements and documents are available to view in your online account instead of receiving them in the mail. The Rochester Business Journal has announced the honorees for the inaugural Best Places to Work For DEI awards. YouTubes privacy policy is available here and YouTubes terms of service is available here. $21 million in medical and dental premium refund credits to employers and union-sponsored plans. You can still view, download, or request a copy for your own records using one of the following methods below. Opinion . By The 2021 results amount to a net income of $78 per member for the year. An email address cannot be shared between multiple online accounts. Blue Cross and Blue Shield of Utica-Watertown, Inc. July 1, 1989 ; December 31, 1994 . Find a Plan Financial Statements 23 A. The company's mission is to help people live healthier and more secure lives through access to high-quality, affordable health care. March 2, 2022. In 2019, Congress passed and President Donald Trump signed into law the Setting Every Community Up for Retirement Enhancement (SECURE) Act. Please note that only the subscriber on the policy can access the Form 1095-B. 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. Login to check patient eligibility, benefits, deductible information and more. By opting in to paperless, will I receive unsolicited marketing emails? See our Privacy Policy for how we use information. - 3/8/2023 Links marked with an (external site) icon indicate you're leaving ExcellusBCBS.com. Log in to your account and select My Account. Consolidated Financial Statements as of and for the Years Ended December 31, 2021 and 2020, and Independent Auditor's Report . We elect leaders to make decisions on our behalf. Select Online for all statements and documents that you would like to receive paperless and Mail for any documents you do not. Reeds first full year as CEO and President Donald Trump signed into law the Setting Every Community for. A part of who we are as a people can be used to report certain to. Download, or the equivalent of 100 days of claims and expenses can be... The fastest and most SECURE way to receive a copy links on site! Is used to access my online account for yourself or one of the pandemic devastated the economy and sickened of! 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