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<\/a><\/p>\nHighlights:<\/strong><\/span><\/p>\n \u2022 BCBSNC<\/a> affected by economy but finances, membership stable<\/p>\n \u2022 Medical spending for customers increases<\/p>\n \u2022 Profit margin declines<\/p>\n Chapel Hill \u2013 In 2009 Blue Cross and Blue Shield of North Carolina<\/a> (BCBSNC<\/a>) continued to see BCBSNC<\/a> had a net income ratio (profit margin) of 2.1 percent for 2009, equating to just 2.1 cents for During 2009, BCBSNC<\/a> spent more of every premium dollar on the medical care of its customers \u2013 For the last four years, BCBSNC<\/a> has encouraged the use of generic drugs to help hold down medical The company\u2019s overall membership exceeded 3.7 million in 2009, which is essentially flat compared to 2008. This includes approximately 900,000 served on behalf of other Blue plans. The company continued to rank as one of the Triangle\u2019s top ten private employers. BCBSNC<\/a>\u2019s Blue Cross and Blue Shield of North Carolina<\/a> is a leader in delivering innovative health care products, services and information to more than 3.7 million members, including approximately 900,000 served on behalf of other Blue Plans. For 77 years, the company has served its customers by offering health insurance at a competitive price and has served the people of North Carolina through support of community organizations, programs and eventsvthat promote good health. Blue Cross and Blue Shield of North Carolina<\/a> is an independent of the Blue Cross and Blue Shield Association.<\/p>\n For more information on health insurance coverage in North Carolina<\/a>, please visit our website at www.nchealthplans.com<\/a> or call our toll free number 888-765-5400 and speak with one of our qualified agents. Our agency provides coverage for health insurance in North Carolina through Blue Cross Blue Shield of North Carolina (BCBSNC). <\/a>You may qualify for a 15% healthy lifestyle discount if you are in excellent health. Call us for details.<\/p>\n","protected":false},"excerpt":{"rendered":" March 1, 2010 BCBSNC 2009 Financial Results Show Stable Finances, Customer Base Highlights: \u2022 BCBSNC affected by economy but finances, membership stable \u2022 Medical spending for customers increases \u2022 Profit margin declines Chapel Hill \u2013 In 2009 Blue Cross and Blue Shield of North Carolina (BCBSNC) continued to see stability in its customer base and […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[23,136,157,316],"class_list":["post-2275","post","type-post","status-publish","format-standard","hentry","category-bcbsnc-insurance","tag-bcbsnc","tag-blue-cross-blue-shield-of-north-carolina","tag-health-insurance-coverage-in-north-carolina","tag-profit-margins"],"_links":{"self":[{"href":"https:\/\/www.nchealthplans.com\/news\/wp-json\/wp\/v2\/posts\/2275","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nchealthplans.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nchealthplans.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nchealthplans.com\/news\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nchealthplans.com\/news\/wp-json\/wp\/v2\/comments?post=2275"}],"version-history":[{"count":14,"href":"https:\/\/www.nchealthplans.com\/news\/wp-json\/wp\/v2\/posts\/2275\/revisions"}],"predecessor-version":[{"id":2447,"href":"https:\/\/www.nchealthplans.com\/news\/wp-json\/wp\/v2\/posts\/2275\/revisions\/2447"}],"wp:attachment":[{"href":"https:\/\/www.nchealthplans.com\/news\/wp-json\/wp\/v2\/media?parent=2275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nchealthplans.com\/news\/wp-json\/wp\/v2\/categories?post=2275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nchealthplans.com\/news\/wp-json\/wp\/v2\/tags?post=2275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nstability in its customer base and financial performance, despite a difficult economy.
\n\u201cDuring this down economy, when many insurers have lost customers, Blue Cross is holding its own.
\nWe remain strong and viable and focused on meeting the health care needs of our customers every day,\u201d
\nsaid President and CEO Brad Wilson.<\/p>\n
\neach dollar of revenue. That was down from 3.6 percent in 2008 and below the company\u2019s target range
\nof 3.5 to 4.5 percent. The company\u2019s profitability was affected by higher medical costs and slower
\nmembership growth due to the state\u2019s down economy. The company\u2019s consolidated net income was
\n$107.3 million with total revenue at $5.2 billion.<\/p>\n
\nnearly 87 cents per premium dollar compared to just over 85 cents in 2008. Included in the increased
\nmedical costs this year were costs associated with H1N1 and seasonal flu, as well as an investment the
\ncompany made in waiving its customers\u2019 generic drug copayments for the first six months of 2009.
\nMost of the remainder of the premium dollar went toward customer service and technology investments
\nto support its products and service.<\/p>\n
\ncosts and make it easier for consumers to afford their medications and stick to the regimen prescribed by
\ntheir doctor. The use of generic prescriptions went up nearly two percentage points to approximately 68
\npercent from December 2008 to December 2009.
\nThe company spent more than $4.0 billion in claims and medical expenses during the year for its insured
\ncustomers, compared to $3.9 billion for 2008. The company paid a total of over $11.3 billion for both
\ninsured and self-funded customer claims.<\/p>\n
\nAs a fully taxed company, BCBSNC incurred nearly $134 million in local, state and federal taxes in
\n2009.<\/p>\n
\nworkforce was over 4,600 at the end of 2009.<\/p>\n