This Week
  • Doctors and researchers are tapping powerful computers to improve outcomes.

  • FBI agents have launched a criminal probe involving Bristol Instruments Inc.

  • Dryden Theatre's Malin Kanis hopes to get more young adults in the theater's seats.

  • Best Lawyers in Rochester guide can help you obtain legal representation.

  • The Business Person of the Year finalists for 2015 are profiled.

  • Ex-Kodak manager Janice Gouldthorpe leads the Genesee Center for the Arts & Education.

Net income drops for Excellus BlueCross BlueShield

Rochester Business Journal
March 1, 2013

Excellus BlueCross BlueShield on Friday reported 2012 net income of $106 million, down 52.5 percent from $223 million in 2011.

Excellus, the largest health insurance firm in the Rochester market, posted an operating gain of $44 million on revenues of $6 billion, it stated in its annual report filed with the state Department of Financial Services.

Its 2012 operating gain dropped 72 percent from $157 million in 2011 on revenues of $5.7 billion, largely because of a drop in new subscribers to 15,000 in 2012 compared with 85,000 in 2011.
Total membership as of Jan. 31 was 1.85 million, Excellus reported.

Membership in Medicare programs has increased 13.6 percent, to 126,000 as of Jan. 31, it reported.

“The fact our membership numbers are strong in what continues to be a challenged economy shows how competitively priced our products are,” Excellus CEO Christopher Booth said in a statement.

Spending for medical benefits increased 8.4 percent, to $410 million, last year, Excellus reported. Administrative expenses and operating income declined 14.7 percent, to $116.7 million.

David Klein, who retired as CEO at the end of 2012, received $3.8 million in total compensation last year, Excellus reported. Booth, president and chief operating officer until taking over for Klein, received $1.6 million.

Chief Financial Officer Dorothy Coleman was the company’s third-highest paid at $826,000.

(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email

What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment


Not registered? Sign up now!

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google