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    • blue cross blue shield of new york news

    2 insurers' profits plummet in 2011

    19.05.12

    Profits tumbled sharply for two of the area’s three health insurers last year, as medical expenses for members and operating expenses blew past revenues, according to new annual filings with state regulators by the three carriers.

    HealthNow New York, the Buffalobased parent of BlueCross BlueShield of Western New York, said net income for 2011 plummetted 92.5 percent to $3.94 million from $52.69 million in 2010. The company, which also owns BlueShield of Northeastern New York in Albany, is the largest of the three local plans.


    Source: Buffalo News

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