FINANCIAL REPORTS-BLUE SHIELD PLANS FOR THE YEAR 1948 (Tabulated by the Associated Medical Care Plans, the National Association of Blue Shield Plans) FINANCIAL EXPERIENCE OF BLUE SHIELD PLANS DECEMBER 31, 1948 (Including data of eight nonmember plans) Five new plans were ac On December 31 there were 55 Blue Shield plans. cepted for membership, however, early in January. The new plans are designated as members in table I. Three member plans did not report year-end financial data. The Arkansas plan is just beginning operation and had no data to submit. No reports were received from the plans at Eugene and Oregon City, Oreg. In addition to the 57 reporting member plans 8 nonmember plans submitted financial reports which are included in the tables. Two of the plans that reported did not submit balance sheet information. Recapitulation table I indicates that total assets of the 63 plans equal $36,628,847. Reserves held by these plans is approximately half of this figure or $18,327,782. As shown in recapitulation table III these reserves are equal to $1.90 per member covered. The reserves-per-member figure is somewhat overstated since several plans, as indicated by footnotes, are reporting combined hospital and medical plan balance-sheet data. As shown in recapitulation table II, total income for the year was $80,435,839, 77.58 percent ($62,404,422) was paid out in benefits and 8.55 percent ($6,873,940) was set aside for reserves. Operating expenses for the year amounted to $11,157,477, or 13.87 percent of income. It is interesting to note that no plan in table I reported a deficit reserve figure. Only seven plans in table II have suffered operating losses during the year. The third-quarter report indicated that eight plans, at that time, were showing an operating deficit. All the seven plans showing operating losses, except two, show a smaller operating loss at the end of the year than was reported in the third quarter statement. Table IV indicates that $3,564,401 was paid out in benefits under the veteranscare program during 1948. LYNN DOCTOR, Actuarial and Statistical Division. Copyright 1949, Associated Medical Care Plans. TABLE I.-Dec. 31, 1948, balance sheet-information reported by 63 medical service plans PLANS LISTED BY SIZE ACCORDING TO MEMBERSHIP DATA SEC. 1-200,000 OR MORE MEMBERS (11 PLANS) TABLE I.-Dec. 31, 1948, balance sheet-information reported by 63 medical service plans-Continued PLANS LISTED BY SIZE ACCORDING TO MEMBERSHIP DATA-Continued SEC. 4-25,000 TO 50,000 MEMBERS (10 PLANS) 1 Combined balance sheet data for hospital and medical plan. Nonmembers of Blue Shield operated by or affiliated with Blue Cross. Blue Shield members not affiliated with Blue Cross. 28, 370 36, 347 27,930 10,984 15,909 43,865 157,338 5,654 13, 129 Huntington, W. Va., figures include Ashland, Ky., plan. Nonmembers of Blue Shield not affiliated with Blue Cross. No balance-sheet data. |