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Article: BLUE CROSS TURNS SLIM PROFIT, ITS FIRST IN FOUR YEARS
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- March 2, 1990
- Author:
CopyrightCopyright (null) The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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Blue Cross-Blue Shield of Massachusetts turned a small
profit in 1989, the company said yesterday, the first time in four
years the state's largest health insurer has been in the black.
Blue Cross said it earned $1.5 million last year compared to
a loss of $57.7 million the year before. The company also reported
that it lost 150,000 members last year, bringing total enrollment
down to 2.6 million. In 1988 Blue Cross lost 350,000 members.
Blue Cross made a solid profit in its group health business
and a small profit on its health maintenance organizations last
year, according to Herbert Clark, the company's chief financial
officer. Those gains were more than enough to offset a $72.4 ...