— Matthew Borsch, securities analyst for Goldman, Sachs and Co., said in a Dec. 3 update, based on 3rd quarter financials filed with the National Assn. of Insurance Commissioners.
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Monday, December 28, 2015
"We continue to forecast that the 30 Not-for-Profit [NFP] Blue Cross plans, in aggregate,
... will lose
money for full-year 2015 (i.e., net income including investment income), which
would be the first full-year loss for the Blues since the industry down-cycle
of the late 1980s. With the ACA exchange losses as a key driver, we estimate
the NFP Blues aggregate after-tax income (including investment income) was $464
million for the first nine months of 2015, down more than 70% year-on-year from
the same period in 2014, implying a margin of 0.4% versus year-ago 1.6% and as
compared to 3.6% on average for the same periods of 2010-2013."
— Matthew Borsch, securities analyst for Goldman, Sachs and Co., said in a Dec. 3 update, based on 3rd quarter financials filed with the National Assn. of Insurance Commissioners.
— Matthew Borsch, securities analyst for Goldman, Sachs and Co., said in a Dec. 3 update, based on 3rd quarter financials filed with the National Assn. of Insurance Commissioners.
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