Daily News | Independence Blue Cross reports sharply lower profits in 2022 as consumers return to their doctors
Independence Blue Cross’s parent company on Wednesday reported a steep decline profits in 2022, as the pandemic waned and people again started using medical care in greater numbers.Medicare, Medicare Advantage, and private insurance — had $575 million in operating income last year, down from $1.4 billion the year before. Revenue climbed to $27.4 billion from $24.7 billion.
its large Medicaid business, AmeriHealth Caritas, which covered 3 million people in 10 states and Washington D.C. and accounted for about $20 million of the Philadelphia company’s revenue last year.
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