RI largest health insurer posts net profit of $22 million

PROVIDENCE, R.I. (AP) - Rhode Island’s largest health insurer has posted a net profit of $22 million for the first six months of the year following a three-year trend of losing money.

WPRI-TV reports (http://bit.ly/2uLcnZf ) that Blue Cross & Blue Shield reported net revenues of $870 million through June 30. The insurer posted a net loss of $52.1 million at the same point last year.

The insurer’s net reserves are about $42 million higher than what they were last year, and its membership was at 335,000 at the end of June.

Spokeswoman Gail Carvelli says it is still too early to see if the profit trend will continue. She says the insurer is focusing on making health care “more affordable and simple” for residents.


Information from: WPRI-TV, http://www.wpri.com