EAGAN, Minn. (April 3, 2025) – Blue Cross and Blue Shield of Minnesota (Blue Cross) has announced a summary of audited financial results at the parent company level for 2024. The organization reported operating income of $27.6 million on $16.5 billion in total revenue, for an operating margin of less than 1 percent.
“Financial results for 2024 reflected our commitment to increase administrative efficiencies that partially addressed the rising cost of healthcare for our members,” said Dana Erickson, president and CEO of Blue Cross and Blue Shield of Minnesota. “The use of healthcare services last year was at historically high levels. The impact of those costs was offset by multiple years of administrative and operational expense savings and an increase in overall membership. We continue to partner and innovate with providers in our network to improve health outcomes and value for the people we serve.”
Results for 2024 are inclusive of all businesses operating under Aware Integrated, Inc. (AII), the nonprofit corporation and parent organization for the Blue Cross health service plan and Blue Plus, the company’s Health Maintenance Organization (HMO). AII performance also includes additional for-profit subsidiaries as well as premium equivalent dollars administered by Blue Cross for select self-insured ERISA benefit plans offered by national corporations headquartered in Minnesota.
For 2024, AII administered a total of $15.2 billion in medical claim payments, with approximately 90 cents of every premium dollar going directly to cover members’ healthcare costs. Additionally, the organization paid more than $75 million in premium taxes, assessments and surcharges. Total member enrollment for the year ended at approximately 2.7 million. Blue Cross operates as a taxable, nonprofit organization and participates in all markets in order to serve all Minnesotans.
In addition to achieving financial targets for the year, Blue Cross reached significant milestones connected to its strategic priorities including:
- Mission: Launched the Blue Cross and Blue Shield of Minnesota Center for Rural Behavioral Health at Minnesota State University, Mankato, which increases access to behavioral healthcare for residents in greater Minnesota. The clinic opened its doors in early 2025 and now provides in-person and virtual mental health counseling, case management and medication management to clients of all ages statewide. The clinic will also act as an academic training center for students enrolled in the University’s programs in the fields of social work, counseling and student personnel, alcohol and drug studies, psychology, and nursing.
- Affordability: As a company committed to ensuring members receive the highest quality healthcare at the greatest value, Blue Cross remained focused in 2024 on driving greater affordability. Initiatives in 2024 reined in costs by $191.2 million through efforts that included value-based contracting, pharmacy cost management, administrative efficiencies and increased member engagement through digital tools like Blue Care Advisor.
- Experience: Blue Cross was recently named among 600 companies nationwide to be recognized for the best customer service in America by USA TODAY (based on surveys completed in 2024).
2024 Community Highlights
While seeking to improve the quality of healthcare and services available to members, Blue Cross believes in the vibrancy of Minnesota and all its communities. Blue Cross remains the only health plan in Minnesota serving all 87 counties with commercial, Medicare, and Medical Assistance products. Community contributions for 2024 include a total of $16 million donated to charitable organizations – 99 percent within Minnesota – as well as 14,500 volunteer hours donated by more than 1,200 associates. The 2024 Report to the Community can be found at Bluecrossmn.com/CommunityHighlights.
Highlights include:
- $5.1 million invested in communities to advance access to healthy food and working to eliminate commercial tobacco use
- 46 grants, totaling $4.3 million, provided through the Blue Cross Foundation in support of early childhood care and education, safe and welcoming communities, and access to healthcare coverage
- As a company that strives to be an employer of choice, Blue Cross was recognized as a top workplace by the Star Tribune; named America’s 4th ‘Best Employer for Women’ by Forbes; and was a recipient of the 2024 Secretary of Defense Employer Support of the Guard and Reserve (ESGR) Freedom Award.
About Blue Cross and Blue Shield of Minnesota
For more than 90 years, Blue Cross and Blue Shield of Minnesota (Bluecrossmn.com) has supported our members by ensuring access to high quality care at an affordable price. Our nearly 3 million members can be found in every Minnesota county, all 50 states and on four continents. Blue Cross and Blue Shield of Minnesota is an independent licensee of the Blue Cross and Blue Shield Association.