Financial Statement (in Thousands)

Balance Sheet

Dec. 31, 2020


Cash and Cash Equivalents $ 39,323
Land and Buildings18,112
EDP Equipment1,447
Other Assets      7,960
Total Assets $ 790,051

Liabilities and Capital & Surplus

Claims Payable $ 167,451
Premiums Received in Advance24,391
Accounts Payable  140,303
Total Liabilities332,145
Capital & Surplus   457,906

Total Liabilities and Capital & Surplus

 $ 790,051

Statement of Operations

Year Ending Dec. 31, 2020

Premium Income $ 1,147,120
Claims Incurred922,087
Operating Expense165,457
State Premium Tax17,001
Reserve Increase      27,000
Operating Gain $ 15,575
Other Income6,248
Income Tax Benefit       9,454
Net Income $ 31,277

Changes in Policyholder Surplus

Balance, Beginning of Year $ 444,840
Change in Unrealized Appreciation on Investments5,820
Change in Non-Admitted Assets(10,424)
Change in Net Deferred Income Tax(13,208)
Distribution of Investments to Affiliate(2,000)
Change in Pension and Postretirement Benefits1,601
Net Income    $ 31,277
Balance, End of Year $ 457,906

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.