Financial Report

Financial Statements
Balance Sheet December 31, 2014 December 31, 2015
Assets    
Cash & Cash Equivalents  $ 46,910,000 $ 25,485,000
Accounts Receivable 104,562,000 102,215,000
Investments 314,304,000 355,143,000
Land and Buildings 23,159,000 22,105,000
EDP Equipment 10,380,000 10,761,000
Other Assets 9,300,000 5,770,000
Total Assets $ 508,615,000 $ 521,479,000
     
Liabilities & Reserves    
Claims Payable $ 174,045,000 $ 125,064,000
Premiums Received in Advance 25,087,000 19,469,000
Accounts Payable 84,208,000 74,008,000
Total Liabilities 283,340,000 218,541,000
Reserve for Contingencies 225,275,000 302,938,000
Total Liabilities and Reserve $ 508,615,000 $ 521,479,000
     
     
Statement of Operations    
  Year ending
Dec. 31, 2014
Year ending
Dec. 31, 2015
Premium Income $ 1,328,150,000 $ 1,243,284,000
Claims Incurred 1,157,666,000 1,022,535,000
Operating Expense 126,453,000 119,355,000
State Premium Tax 16,583,000 17,254,000
Operating Gain/(Loss) 27,448,000 84,140,000
Other Income/(Loss) 12,952,000 4,662,000
Income Tax Provision (13,606,000) (24,980,000)
Net Income $ 26,794,000 $ 63,822,000
     
     
Changes in Reserves for Contingencies    
Prior year balance  $ 199,088,000  $ 231,133,000
Change in Unrealized Gain/(Loss) (7,816,000) 9,257,000
Change in Non-Admitted Assets (13,789,000) (20,525,000)
Change in Net Deferred Income Tax 15,246,000 2,494,000
Change in Pension and
Postretirement Benefits
5,752,000 16,757,000
Net Income (Loss) to Date 26,797,000 63,822,000
End of Year balance $ 225,275,000 $ 302,938,000

 

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.