NC Blue Cross Blue Shield profits up 5 percent, reports

FROM BLUE RIDGE NOW (Hendersonville Times-News online):

North Carolina’s largest health insurer says profits rose about 5 percent last year to $177 million.

Blue Cross and Blue Shield said Thursday more than $4 billion of its $5.5 billion in revenues was spent on claims and medical expenses for its customers.

The not-for-profit private corporation said that it spent 85 cents of every 2011 premium dollar on medical care of its customers, while its profits amounted to about 3 percent. …


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