By: Tracey Drury
Buffalo Business First
The parent company of BlueCross BlueShield of Western New York reported its third consecutive annual surplus, finishing 2019 with net income of $55 million on revenue of $2.8 billion.
Buffalo-based HealthNow New York Inc., which also includes its BlueShield of Northeastern New York division in Albany, called last year’s performance “solid,” with year-over-year growth in premium and membership, and strong investment returns.
According to its annual filing to the state Department of Financial Services, the company reported increases in both premium revenue and income compared to 2018, when net income was $47 million on revenue of $2.6 billion.