Singing the Blues: Financial Losses Spur Layoffs, Buyouts at Blue Cross Blue Shield Plans
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Jan 31, 2025
In recent months, multiple Blue Cross Blue Shield insurers have disclosed layoffs and buyouts aimed at trimming their expenses to help them weather what one health plan called “significant economic headwinds.”
Industry experts say that the problems plaguing those Blues — elevated health care utilization and rising specialty drug costs — have been hitting health insurers of all types. But the Blues plans may be feeling the pain more acutely.
“This is the most stress, I think, on the operating performance we’ve seen for health insurers for a while,” Brad Ellis, senior director of North American Insurance Ratings at Fitch Ratings, tells AIS Health, a division of MMIT.
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