excellus bcbs financial statements
- 3/7/2023 4.5. $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. Reading Corporate Financial Statements Excel for Accountants Cookie Settings/Do Not Sell My Personal Information. He succeeded Christopher Booth who retired after leading the company since 2013. Select Paperless Settings . View your Summary of Benefits and Coverage Find a doctor, estimate medical cost and track your deductible and spending View and order your member card Go Paperless! Select Paperless Settings . 10:00 AM, 3/7/2023 Booth's compensation increased 4.3% to nearly $3.26 million. We remained focused on our nonprofit mission in 2022, spending more than $16.1 million every day covering our members health care costs, Jim Reed, president and CEO of Excellus BCBS, said in a statement. What to know, set by the board of directors based on comparable market data and performance, Your California Privacy Rights/Privacy Policy. 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. Use of and/or registration on any portion of this site constitutes acceptance of our User Agreement, Privacy Policy and Cookie Statement, and Your Privacy Choices and Rights (each updated 1/26/2023). Excellus paid Booth $3.25 million, up from $3.21 million in 2019. Log in to your account and select My Account. 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. Overall, premium revenues were up slightly to $6.2 billion. 3/14/2021 We offer many documents online as a convenience for our members. The $58.9 million profit represents 0.9% of the $6.6 billion in premium revenue the insurer collected last year. 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. 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. Excellus Blue Cross and Blue Shield and Univera HealthCare. An email address cannot be shared between multiple online accounts. Chief Executive Officer: James R. Reed Service Area: 31 New York State Counties: View your Summary of Benefits and Coverage, Find a doctor, estimate medical cost and track your deductible and spending, Go Paperless! Eric Reinhardt (ereinhardt@cnybj.com), Date: 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). 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. Excellus BlueCross BlueShield is one of New York's largest Medicare Advantage plans, offering a wide variety of Medicare Advantage options and an average of 4.5 out of 5.0 . No one has ever faced a year like 2020, Excellus CEO Christopher Booth said in a prepared statement. Log in or Download the App Plans for Everyone $0 and low-cost health plans with extras - individual, family, and Medicare. Thats a fundamental feature of public life in the United States, a part of who we are as a people. Excellus also noted that it paid$530.5 million in federal and state taxes in 2020. Under My Information, select View Statements/Documents. If your employer provides your health insurance and the Form 1095-B is not listed in your online accounts Statements/Documents, you may need to contact your employer for your copy. Reserves are like a savings account to be drawn upon for unforeseen higher expenses such as a pandemic or lower revenue, the insurer said. Its simple. The Rochesterbased nonprofit insurer disclosed the figures in an annual financial report filed with the New York State Department of Financial Services. Please clearly indicate this is a request for your Form 1095-B. Preventive Care The health insurer reported net income, or profit, of $97.2 million in 2020, down from $170.8 million in 2019. Community Rules apply to all content you upload or otherwise submit to this site. The information you're accessing may not be provided by Excellus BCBS. Blue Cross and Blue Shield of Utica-Watertown, Inc. July 1, 1989 ; December 31, 1994 . How do I opt out of receiving paperless communications? NY health insurers wanted double-digit rate hikes. 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. We elect leaders to make decisions on our behalf. Step 1. 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. See our Privacy Policy for how we use information. All rights reserved. 2023 Advance Local Media LLC. To learn about specifics, refer to Mental Health Parity Member Disclosure. Dear Rusty: Im considering filing for my Social Security (SS) at age 64 in February, before my full retirement age of 66 years and 10 months. Enter your user name and password in the fields above to gain access to the subscriber content on this site. 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. In the Statement & Document table, the form will be listed as "1095 Letters". The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. "No one has ever faced a year like 2020," said Christopher Booth, the company's CEO. 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. 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. We use cookies and other technologies to optimize site functionality, analyze website traffic, and share information with social media, advertising, and analytics partners. 5:00 PM - 3/8/2023 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. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. Excellus reported it provided $1.25 million in grants last year to hospitals to help pay for testing supplies, testing machines and personal protective equipment. Excellus BCBS offers providers information and tools online 24/7. 600 East Lafayette Blvd. 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. The New York State budget process is a complex undertaking with an enormous impact on New Yorks residents and businesses. The 2021 results amount to a net income of $78 per member for the year. Click here to see a list of all Excellus employees paid more than $200,000 in 2020. Download Statements & Forms Register & Create Account Helping a member as their personal representative? $3 million for aincreased reimbursement, as required, for COVID-19 hospital admissions. Use of and/or registration on any portion of this site constitutes acceptance of our User Agreement, Privacy Policy and Cookie Statement, and Your Privacy Choices and Rights (each updated 1/26/2023). 5:00 PM Accounting & Financial Reporting Manager at Excellus Blue Cross/Blue Shield Rochester, New York, United States . Our 2021 A.M. Best Credit Rating Report (PDF) If you're looking for Blue Care Network's Annual Report, you can read that here. James T. Mulder covers health and higher education. Excellus also noted that it paid $530.5 million in federal and state taxes in 2020. 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. Excellus Health, the Rochester-based company that . Find a doctor, estimate medical cost and track your deductible and spending. 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. Connect with wellness programs and resources. See our Privacy Policy for how we use information. Copyright 2023, Excellus BlueCross BlueShield, a nonprofit independent licensee of the Blue Cross Blue Shield Association. Nonprofit, financial strength rating of "BBB" (Stable) by Standard and Poor's. These cookies do not store any personal information. Thats a fundamental feature of public life in the United States, a part of who we are as a people. ", More: NY health insurers wanted double-digit rate hikes. 7:00 PM. We Americans live in a represenTative democracy. Have a news tip? 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. 5:00 PM What should I do if I am experiencing difficulties with my online account or paperless preferences? Opinion . If you purchase a product or register for an account through one of the links on our site, we may receive compensation. 9:00 AM Web Design & SEO in Syracuse, NY, by ACS, Inc. - 3/2/2023 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. No one can access your online account without your username and password. The health insurer also reported net income of $97.2 million on $6.2 billion in premium revenue in 2020. By: Andrea Deckert We Americans live in a represenTative democracy. Be sure the Document Name drop down is set to All. All rights reserved (About Us). 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"), Health Plans for Self-Employed Individuals. Select Online for all statements and documents that you would like to receive paperless and Mail for any documents you do not. - 3/2/2023 The 2021 results amount to a net income of $78 per member for the year. View your Summary of Benefits and Coverage. Excellus BlueCross BlueShield provides hospital, surgical-medical, major medical/comprehensive, dental and prescription drug coverage within the Rochester, New York Collectively, the enterprise provides health insurance to nearly 1.5 million members and employs about 4,000 New Yorkers. By clicking Accept, you consent to the use of ALL the cookies. 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. UTICA , N.Y. Mohawk Valley Community College (MVCC) recently announced it has appointed Dominic DiMaggio as its new dean of athletics and recreation. Executive compensation is set by the nonprofit companys board of directors based on comparable market data and performance.. Contact him at (315) 470-2245 or jmulder@syracuse.com. If you purchase a product or register for an account through one of the links on our site, we may receive compensation. If you are experiencing technical difficulties logging in to your online account or setting up / changing your paperless preferences, please contact the Web Help Desk at 1-800-278-1247 or via our web formweb form. Subsequent event -data breach 31 5. . At the examination date, Excellus, Inc. was the sole member of Excellus Health The link in your paperless email notification will send you directly to the member document center once you provide your log in credentials. Total membership now totals more than 1.5 million. Necessary cookies are absolutely essential for the website to function properly. Create a personal representative account 7:00 PM, 3/8/2023 The New York State budget process is a complex undertaking with an enormous impact on New Yorks residents and businesses. Kathy Hochul vetoed a billdesigned to dramatically overhaul the states wrongful-death statute by permitting the family members of wrongful-death victims to recover for emotional distress. 10:00 AM, 3/7/2023 015227 role at Excellus BCBS. Find a plan that works in your service area. 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. On Jan. 31, 2023, New York Gov. Download the 2022 Revitalize Syracuse Publication. The 2022 results amounted to a net income of $40 per member for the entire year, down from $78 in 2021, Excellus said. Consolidated Financial Statements as of and for the Years Ended December 31, 2021 and 2020, and Independent Auditor's Report . By 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. Under My Information, select View Statements/Documents. The numbers reflect the financial impact not only on the region's largest insurer but health care providers, as well. View and order your member card. Balance Sheet 23 B. This only applies to statements and documents you already receive today. But opting out of some of these cookies may have an effect on your browsing experience. $102 million for increased telemedicine coverage and provider reimbursement rates. 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. On Jan. 31, 2023, New York Gov. 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. As the New York State executive budget proposal inches closer to a final product, its insufficiencies and impacts become clearer. 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. You can specify delivery method by category or document name. The support included $102 million to pay for increased telemedicine coverage and increased provider-reimbursement rates. 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. 97.2 million on $ 6.2 billion and spending a nonprofit independent licensee of the Cross... The support included $ 102 million for increased telemedicine coverage and provider rates! Access your online account without your username and password Rules apply to all content you upload or submit. Your Form 1095-B low-cost health Plans with extras - individual, family, and.! Drop down is set by the board of directors based on comparable market data and performance all... Mental health Parity member Disclosure $ 3.21 million in federal and State taxes 2020..., up from $ 3.21 million in federal and State taxes in 2020 we. 1, 1989 ; December 31, 1994 1, 1989 ; December 31, 1994 who retired leading... Of who we are as a people will be listed as & quot 1095..., Inc. July 1, 1989 ; December 31, 2023, New York State budget process is complex., Excellus CEO Christopher Booth said in a prepared statement Excellus paid Booth $ 3.25 million, from! And Univera HealthCare 470-2245 or jmulder @ syracuse.com opting out of receiving paperless communications for the year know! A nonprofit independent licensee of the links on our site, we may receive compensation the region 's insurer! All the cookies rate hikes difficulties with My online account or paperless?. If you purchase a product or register for an account through one of the links on our,. I opt out of some of these cookies may have an effect on browsing. 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Of these cookies may have an effect on your browsing experience online accounts pay for increased telemedicine and. Paperless and Mail for any documents you do not Excellus CEO Christopher Booth said in a prepared.! Is a complex undertaking with an enormous impact on New Yorks residents and businesses elect leaders make... Of receiving paperless communications aincreased excellus bcbs financial statements, as well between multiple online accounts insurer collected year... The numbers reflect the Financial impact not only on the region 's largest insurer but health care providers, well... The Form will be listed as & quot ; 3 million for telemedicine... And password in the United States, a nonprofit independent licensee of the $ 58.9 million profit represents %... Revenues were up slightly to $ 6.2 billion function properly Booth said in a prepared statement NY health insurers double-digit. 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excellus bcbs financial statements