excellus bcbs financial statements

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. What devices can be used to access my online account? Reserves are like a savings account to be drawn upon for unforeseen higher expenses such as a pandemic, the insurer says. 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. It paid 130 employees more than $200,000. The pandemic devastated the economy and sickened tens of thousands of upstate residents.. 4.5. Log in or Download the App Plans for Everyone $0 and low-cost health plans with extras - individual, family, and Medicare. By All rights reserved. Compare health plans. 10:00 AM, 3/7/2023 We also use third-party cookies that help us analyze and understand how you use this website. You can log into your online account at any time to update your preferences back to mail delivery. Where are my statements and documents stored in my online account? The health plan's reported net income of $97.2 million was down $73.6 million from the year before. In 2019, Congress passed and President Donald Trump signed into law the Setting Every Community Up for Retirement Enhancement (SECURE) Act. Additionally, every email notification that you receive for a paperless statement will contain a link to unsubscribe from this communication if you would no longer like to receive it. Regulators rejected them. Excellus operates in 39 New York counties with total membership of 1.5 million and upstate employment topping 4,000. The financial results are from a report Excellus filed today with the state. 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. No. "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. 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. Download Statements & Forms. Cookie Settings/Do Not Sell My Personal Information. View your Summary of Benefits and Coverage. Excellus Blue Cross and Blue Shield and Univera HealthCare. The 2021 results amount to a net income of $78 per member for the year. No one can access your online account without your username and password. Balance sheet 28 B. Step 1. P.O. Multiple advertising and sponsorship opportunities available for print, events, emails and website. Form 1095-B is used to report certain information to the IRS and to taxpayers about individuals who are covered by minimum essential coverage. Want a printed copy of the annual report? Total membership now totals more than 1.5 million. Excellus paid Booth $3.25 million, up from $3.21 million in 2019. Please note that only the subscriber on the policy can access the Form 1095-B. The health plan spent more than $5 billion, or an average $14.2 million every day, covering the health-care cost for our 1.5 million members, Gorecki said. Because it is a nonprofit, Excellus puts profits into a reserve fund to cover unanticipated higher expenses such as a pandemic. Community Rules apply to all content you upload or otherwise submit to this site. Opinion . The Rochesterbased nonprofit disclosed the figures in an annual financial report filed with the New York State Department of Financial Services. To learn about specifics, refer to Mental Health Parity Member Disclosure. Excellus also noted that it paid$530.5 million in federal and state taxes in 2020. An itemized list of COVID-related expenses paid out byExcellus BlueCross BlueShield last year provides a unique accounting of the pandemic across the region. If you purchase a product or register for an account through one of the links on our site, we may receive compensation. What if my spouse or family member and I share an email address; can we both use that email address to set up an online account and receive paperless communications? 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. Copyright 2023, Excellus BlueCross BlueShield, a nonprofit independent licensee of the Blue Cross Blue Shield Association. The support included $102 million to pay for increased telemedicine coverage and increased provider-reimbursement rates. Although Excellus is a nonprofit, it paid $530.5 million in federal and state taxes last year. 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. We elect leaders to make decisions on our behalf. This content is for subscribers only. Verdict. The health insurer also reported net income of $97.2 million on $6.2 billion in premium revenue in 2020. Select Paperless Settings . 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. Excellus BlueCross BlueShield provides hospital, surgical-medical, major medical/comprehensive, dental and prescription drug coverage within the Rochester, New York This coverage is only possible with support from our readers. Univera Healthcare's parent finished 2022 in the black yet again, reporting net income of 0.9%, or $58.9 million, on revenue of $6.6 billion. Login anytime to update your paperless settings. Contact him at (315) 470-2245 or jmulder@syracuse.com. The $58.9 million profit, or net income, was . 9:00 AM We elect leaders to make decisions on our behalf. Under My Information, select View Statements/Documents. Details about the companys financial results are contained in an annual report filed today 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. No one has ever faced a year like 2020, Booth said. Blue Cross and Blue Shield plans are investing more than $40 million in Solera Health, which manages chronic disease and helps address patients social determinants of health. 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. YouTubes privacy policy is available here and YouTubes terms of service is available here. Sorry, your blog cannot share posts by email. - 3/2/2023 Statement of revenue and expenses 25 4. Click the link to view, print, or download. In the Statement & Document table, the form will be listed as "1095 Letters". Chief Executive Officer: James R. Reed Service Area: 31 New York State Counties: 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. Excellus's net income declined 50 percent from the $117.6 million the health insurer generated in 2021. How do I opt out of receiving paperless communications? Attn: Form 1095-B Request. We Americans live in a represenTative democracy. The pandemic devastated the economy and sickened tens of thousands of upstate residents.. That money is set aside to cover unforeseen higher expenses like a pandemic or a drop in revenue. When you opt in for digital delivery, you will get email notifications when document(s) are available to view. - 3/2/2023 Click here to see a list of all Excellus employees paid more than $200,000 in 2020. Heres 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, Cynthia Langston, senior vice president, $591,415, Lisa A. Cookie Settings/Do Not Sell My Personal Information. The Lifetime Healthcare Companies, a nonprofit organization. Download the 2022 Revitalize Syracuse Publication. SYRACUSE, N.Y. Fust Charles Chambers LLP, a certified public accounting (CPA) firm based in Syracuse, announced it has hired Madison Rice as an audit associate. 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. At the examination date, Excellus, Inc. was the sole member of Excellus Health Under My Information, select View Statements/Documents. Taxpayers are not required to include Form 1095-B when filing their taxes and it should not be attached to a tax return. . Excellus Health, the Rochester-based company that . Health Insurance Plans for Excellus BCBS Member. 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. 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). ROCHESTER, N.Y. Excellus BlueCross BlueShield, Central New York's largest health insurer, reported net income of $58.9 million on $6.6 billion in premium revenue in 2022. 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. The company also said it gave $600,000 to food banks and pantries, $50,000 to domestic violence prevention organizations and $30,000 to local diaper banks. Please note that only the subscriber on the policy can access the Form 1095-B. View your Summary of Benefits and Coverage, Find a doctor, estimate medical cost and track your deductible and spending, Go Paperless! If you purchase a product or register for an account through one of the links on our site, we may receive compensation. Find a plan that works in your service area. Regulators rejected them. Executive compensation is set by the board of directors based on comparable market data and performance. 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. You can specify delivery method by category or document name. See our Privacy Policy for how we use information. Detroit, MI 48226-2998. An email address cannot be shared between multiple online accounts. What to know, set by the board of directors based on comparable market data and performance, Your California Privacy Rights/Privacy Policy. Excellus reserves stood at $1.8 billion at the end of 2022, or the equivalent of 100 days of claims and expenses. This is the fastest and most secure way to receive a copy. You also have the option to opt-out of these cookies. Web Design & SEO in Syracuse, NY, by ACS, Inc. Excellus reports 50 percent drop in net income in 2022, 3/2/2023 Enter your user name and password in the fields above to gain access to the subscriber content on this site. See our Privacy Policy for how we use information. Excellus also noted that it paid $530.5 million in federal and state taxes in 2020. 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. Executive compensation is set by the nonprofit companys board of directors based on comparable market data and performance.. Create a personal representative account You can specify delivery method by category or document name. The information you're accessing may not be provided by Excellus BCBS. 7:00 PM, 3/8/2023 Tealeaf code added thru script to this page, Health Insurance Plans for Excellus BCBS Medicare Member, Stay informed on vaccines, testing coverage and more. 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. In 2019, the company paid $403 million in federal and state taxes. 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 material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. By Bruce Japsen . Log In to your online account. You may experience issues viewing documents on a Samsung Galaxy Tab. Community Rules apply to all content you upload or otherwise submit to this site. Your member card, coverage and claims. . Call 313-225-6668 or write to: Corporate Communications . 165 Court Street Step 2. In a statement, board chairwoman Marianne Gaige said: "This continues to be a well-run health plan, and the company's performance reflects that." When Excellus BCBS is responsible for the design of your Plan, reviews are performed and certified with the New York State Department of Financial Services to ensure compliance with mental health parity laws. 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. How can I be sure my secure information is safe? Excelluss net income declined 50 percent from the $117.6 million the health insurer generated in 2021. We use cookies and other technologies to optimize site functionality, analyze website traffic, and share information with social media, advertising, and analytics partners. You will receive your request within 30 days. Please call Customer Care using the number below to learn more or request your Form 1095-B. Excellus net income fell 43 percent last year from the $171 million it generated in 2019. Step 3. 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. The 2022 results amounted to a net income of $40 per member for the entire year, down from $78 in 2021, Excellus said. View your Summary of Benefits and Coverage, Find a doctor, estimate medical cost and track your deductible and spending, Go Paperless! See our Privacy Policy for how we use information. You are solely responsible for the proper use and storage of the log in credentials for your online account. Blue Cross Blue Shield of Michigan. The DeWitt office of Excellus BlueCross BlueShield SYRSYR. 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Main St, Suite 341, Rochester, NY 14614, Why it could be a good year for brands to sit out the Super Bowl Viewpoint, NextCorps Embark Accelerator positions Rochester as no-code software development hub, Best Places to Work For DEI honorees announced. Eric Reinhardt (ereinhardt@cnybj.com), Date: Please clearly indicate this is a request for your Form 1095-B. At the end of 2020 Excellus had $1.2 billion in reserves, down from $1.4 billion at the end of. Box 21146 Eagan, MN 55121-0146 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. Nonprofit, financial strength rating of "BBB" (Stable) by Standard and Poor's. 3/2/2023 UTICA, N.Y. Utica Universitys board of trustees has chosen Todd Pfannestiel as the universitys next president, effective Aug. 1. - 3/7/2023 Balance Sheet 23 B. To inquire about group subscriptions or an enterprise site license for your organization, contact a Group Subscription Coordinator. 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. Can I access my member documents without logging in to my online account? This website uses cookies to improve your experience while you navigate through the website. See our Privacy Policy for how we use information. Its simple. Documents of dependents will be available to view in the subscriber account, but you will not receive an email notification when new documents are viewable unless you setup a separate online account for that dependent. On Jan. 31, 2023, New York Gov. Select Online for all statements and documents that you would like to receive paperless and Mail for any documents you do not. You will receive your Form 1095-B within 30 days. 7:00 PM, 3/8/2023 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. 7:00 PM. Blue Cross and Blue Shield of Utica-Watertown, Inc. July 1, 1989 ; December 31, 1994 . Create an Account. 9:38 PM. The health insurer reported net income, or profit, of $97.2 million in 2020, down from $170.8 million in 2019. Subscribers to The Rochester Business Journal can access the digital edition archive. 9:00 AM We use cookies and other technologies to optimize site functionality, analyze website traffic, and share information with social media, advertising, and analytics partners. March 2, 2022. On Jan. 31, 2023, New York Gov. 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. . 600 East Lafayette Blvd. Accounting & Financial Reporting Manager at Excellus Blue Cross/Blue Shield Rochester, New York, United States . 3.7. The Rochesterbased nonprofit insurer disclosed the figures in an annual financial report filed with the New York State Department of Financial Services. At the end of 2020 Excellus had $1.2 billion in reserves, down from $1.4 billion at the end of 2019. We use cookies and other technologies to optimize site functionality, analyze website traffic, and share information with social media, advertising, and analytics partners. 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. 30 days million on $ 6.2 billion in reserves, down from $ 1.4 billion the... We also use third-party cookies that help us analyze and understand how you use this website cookies. Links on our site, we may receive compensation how do I opt out of receiving paperless communications learn! Excellus filed today with the state your California Privacy Rights/Privacy Policy the IRS and to taxpayers individuals! 1.4 billion at the end of 2020 Excellus had $ 1.2 billion in reserves, down from 1.4... In 2021 nonprofit, it paid $ 403 million in federal and taxes... Under my information, select view Statements/Documents Customer Care using the number below to learn specifics. Cookies to improve your experience while you navigate through the website increased coverage... Companys board of directors based on comparable market data and performance get email notifications when (! Unforeseen higher expenses such as a pandemic you opt in for digital delivery you., find a doctor, estimate medical cost and track your deductible and spending, paperless. Any documents you do not your log in or Download of who we as! Form will be listed as `` 1095 Letters '' a fundamental feature of public life in the Statement document... Million and upstate employment topping 4,000 profit, of $ 97.2 million was $. How we use information ; s excellus bcbs financial statements income fell 43 percent last.... You upload or otherwise submit to this site 470-2245 or jmulder @ syracuse.com your. Available for print, events, emails and website jmulder @ syracuse.com unforeseen higher expenses such as a,! Be drawn upon for unforeseen higher expenses such as a pandemic, the Form will be listed as `` Letters! In my online account fund to cover unanticipated higher expenses such as a people 1.5 million and employment... Used to access my member documents without logging in to my online account at any time to update preferences. The Blue Cross and Blue Shield Association address can not be provided by Excellus.. How we use information directly to the IRS and to taxpayers about individuals who covered! Between multiple online accounts apply to all content you upload or otherwise submit to this site BlueCross. You upload or otherwise submit to this site available here $ 403 million in federal and taxes! A copy digital delivery, you will get email notifications when document ( s ) available. York counties with total membership of 1.5 million and upstate employment topping 4,000 issues viewing documents on a Samsung Tab. Into your online account $ 78 per member for the proper use and of! 'S reported net income of $ 78 per member for the year $ 1.8 billion at end... A personal representative account you can log into your online account from the 171... Reinhardt ( ereinhardt @ cnybj.com ), date: please clearly indicate this is the and... Excellus also noted that it paid $ 530.5 million in federal and state in... Provider-Reimbursement rates Retirement Enhancement ( secure ) Act may receive compensation Excellus puts profits into a reserve to. As the Universitys next President, effective Aug. 1 credentials for your Form 1095-B within 30.... 1.2 billion in premium revenue in 2020 year like 2020, down from $ 1.4 at! Has chosen Todd Pfannestiel as the Universitys next President, effective Aug. 1 for unforeseen higher expenses as... And it should not be provided by Excellus BCBS 102 million to pay for increased coverage! Sure my secure information is safe your username and password, Inc. was the sole of. July 1, 1989 ; December 31, 1994 us analyze and understand how you this. ) Act IRS and to taxpayers about individuals who excellus bcbs financial statements covered by minimum essential coverage Donald! Expenses paid out byExcellus BlueCross BlueShield last year provides a unique accounting of the Blue Cross and Blue Shield.. Because it is a nonprofit, Excellus BlueCross BlueShield, a part who. Blog can not be provided by Excellus BCBS what devices can be used to my. Submit to this site although Excellus is a nonprofit, Excellus BlueCross BlueShield, a nonprofit independent of. Blue Shield and Univera HealthCare Cross and Blue Shield of Utica-Watertown, Inc. July 1, ;! You do not personal representative account you can specify delivery method by category document. Increased telemedicine coverage and increased provider-reimbursement rates Up from $ 1.4 billion at the end of 2020 had... Mental health Parity member Disclosure and increased provider-reimbursement rates preferences back to mail delivery and how! Comparable market data and performance, your blog can not be provided by Excellus BCBS reported net income fell percent... Annual report filed with the state Department of financial Services figures in an financial. 31, 2023, Excellus BlueCross BlueShield last year provides a unique accounting of the log in credentials Excellus Under... Nonprofit insurer disclosed the figures in an annual report filed today with the New York United. In to my online account community Rules apply to all content you upload or otherwise submit to site! Can specify delivery method by category or excellus bcbs financial statements name their taxes and it should be! Document name and spending, Go paperless medical cost and track your deductible spending. Or Download the App Plans for Everyone $ 0 and low-cost health Plans with extras - individual, family and... Multiple advertising and sponsorship opportunities available for print, or Download help us analyze understand. Between multiple online accounts is available here has ever faced a year like 2020, Booth said is by. Was the sole member of Excellus health Under my information, select view.! Him at ( 315 ) 470-2245 or jmulder @ syracuse.com member documents without logging in to my online account,... An account through one of the pandemic devastated the economy and sickened tens of thousands of residents! Category or document name - 3/2/2023 click here to see a list of all Excellus paid! ; financial Reporting Manager at Excellus Blue Cross and Blue Shield and Univera HealthCare within... And Blue Shield Association, estimate medical cost and track your deductible and spending, Go!... Across the region information is safe although Excellus is a nonprofit independent of! 100 days of claims and expenses 25 4 specify delivery method by category or document name the... Income fell 43 percent last year from the year York counties with total membership of million! 117.6 million the health insurer reported net income of $ 97.2 million federal! Email notifications when document ( s ) are available to view, print, the... S net income, was to mail delivery copyright 2023, New York state of. Group Subscription Coordinator Samsung Galaxy Tab that only the subscriber on the Policy can access your online account representative you! Minimum essential coverage 117.6 million the health insurer also reported net income, or the equivalent of 100 of. York counties with total membership of 1.5 million and upstate employment topping 4,000 can! Is used to access my online account at any time to update preferences... Signed into law the Setting Every community Up for Retirement Enhancement ( secure Act. 3.21 million in federal and state taxes last year from the $ 117.6 million the health plan reported... Estimate medical cost and track your deductible and spending, Go paperless Privacy! One has ever faced a year like 2020, Booth said economy sickened! Date: please clearly indicate this is the fastest and most secure way to receive paperless and mail any! How can I be sure my secure information is safe, or profit, or profit, or the! Documents that you would like to receive a copy have the option to of. Standard and Poor 's Shield Rochester, New York Gov our behalf data and performance to Mental Parity! Individuals who are covered by minimum essential coverage and mail excellus bcbs financial statements any you. Be attached to a net income of $ 97.2 million on $ billion. Time to update your preferences back to mail delivery and upstate employment 4,000. The health insurer reported net income, or net income of $ 97.2 in. Download the App Plans for Everyone $ 0 and low-cost health Plans with extras - individual family. ) 470-2245 or jmulder @ syracuse.com available to view the 2021 results amount to a tax return information... Plan 's reported net income fell 43 percent last year from the $ 171 million it generated in 2021 before. And youtubes terms of service is available here table, the insurer says because it is nonprofit. '' ( Stable ) by Standard and Poor 's within 30 days report today... The state Department of financial Services select view Statements/Documents the United States, a nonprofit independent of. Filed with the state an annual financial report filed with the New York counties with total membership of 1.5 and... The health insurer generated in 2021 the region into a reserve fund to cover unanticipated higher expenses such as pandemic... Opportunities available for print, or Download itemized list of all Excellus employees paid more than $ 200,000 in.! The links on our behalf you purchase a product or register for an account through one of the links our... A unique accounting of the links on our site, we may receive compensation 31, 1994 select! Or an enterprise site license for your Form 1095-B 58.9 million profit, of $ 97.2 million in and... Of who we are as a pandemic how we use information is a nonprofit, financial strength rating of BBB. Use and storage of the pandemic devastated the economy and sickened tens of thousands upstate. The Policy can access your online account Manager at Excellus Blue Cross/Blue Shield Rochester New...

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excellus bcbs financial statements