Financial Report

Financial Statements
Balance Sheet December 31, 2013 December 31, 2014
Assets    
Cash & Cash Equivalents  $ 78,197,000 $ 46,910,000
Accounts Receivable 92,075,000 104,562,000
Investments 242,989,000 314,304,000
Land and Buildings 24,503,000 23,159,000
EDP Equipment 11,511,000 10,380,000
Other Assets 8,914,000 9,300,000
Total Assets $ 458,189,000 $ 508,615,000
     
Liabilities & Reserves    
Claims Payable $ 176,577,000 $ 174,045,000
Premiums Received in Advance 20,709,000 25,087,000
Accounts Payable 61,815,000 84,208,000
Total Liabilities 259,101,000 283,340,000
Reserve for Contingencies 199,088,000 225,275,000
Total Liabilities and Reserve $ 458,189,000 $ 508,615,000
     
     
Statement of Operations    
  Year ending
Dec. 31, 2013
Year ending
Dec. 31, 2014
Premium Income $ 1,195,644,000 $ 1,328,150,000
Claims Incurred 1,108,368,000 1,157,666,000
Operating Expense 98,168,000 126,453,000
State Premium Tax 14,325,000 16,583,000
Operating Gain/(Loss) (25,217,000) 27,448,000
Other Income/(Loss) (52,549,000) 12,952,000
Income Tax Provision (3,022,000) (13,606,000)
Net Income $ (80,788,000) $ 26,794,000
     
     
Changes in Reserves for Contingencies    
Prior year balance  $ 271,967,000  $ 199,088,000
Change in Unrealized Gain/(Loss) 15,716,000 (7,816,000)
Change in Non-Admitted Assets 15,861,000 (13,789,000)
Change in Net Deferred Income Tax 1,229,000 15,246,000
Impact from Change in Accounting Principles for Pension (24,897,000) 5,752,000
Net Income (Loss) to Date (80,788,000) 26,797,000
End of Year balance $ 199,088,000 $ 225,275,000

 

Blue Cross Blue Shield of North Dakota is a mutual not-for-profit organization and reports its financials in accordance with that structure.

The Blue Cross and Blue Shield Association licenses Blue Cross Blue Shield of North Dakota (BCBSND) to offer certain products and services under the BLUE CROSS® and BLUE SHIELD® brand names. BCBSND is an independent organization governed by its own Board of Directors, and responsible for its own obligations. A copy of BCBSND's most recent audited financial statement is available on request to BCBSND.