Financial Report

Financial Statements
Balance Sheet December 31, 2016
Assets  
Cash & Cash Equivalents  $ 42,205,000
Accounts Receivable 101,329,000
Investments 461,169,000
Land and Buildings 20,359,000
EDP Equipment 9,416,000
Other Assets 6,070,000
Total Assets $ 640,548,000
   
Liabilities & Reserves  
Claims Payable $ 133,607,000
Premiums Received in Advance 20,303,000
Accounts Payable 87,417,000
Total Liabilities 241,327,000
Reserve for Contingencies 399,221,000
Total Liabilities and Reserve $ 640,548,000
   
   
Statement of Operations Year ending
Dec. 31, 2016
   
Premium Income $ 1,080,432,000
Claims Incurred 917,655,000
Operating Expense 107,514,000
State Premium Tax 16,905,000
Operating Gain/(Loss) 38,358,000
Other Income/(Loss) 49,466,000
Income Tax Provision (17,516,000)
Net Income $ 70,308,000
   
   
Changes in Reserves for Contingencies  
Prior year balance  $ 302,938,000
Change in Unrealized Gain/(Loss) 18,380,000
Change in Non-Admitted Assets 17,593,000
Change in Net Deferred Income Tax (15,565,000)
Change in Pension and
Postretirement Benefits
5,567,000
Net Income (Loss) to Date 70,308,000
End of Year balance $ 399,221,000

 

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.