Financial Statement (in Thousands)

Balance Sheet

Dec. 31, 2019

Assets

 

Cash and Cash Equivalent

$ 43,064

Receivables

148,481

Investments

527,819

Land and Buildings

18,841

EDP Equipment

1,791

Other Assets

25,785

Total Assets

$ 765,781

 

 

Liabilities and Capital & Surplus

 

Claims Payable

$ 164,703

Premiums Received in Advance

26,727

Accounts Payable

129,511

Total Liabilities

320,941

Capital & Surplus

444,840

Total Liabilities and Capital & Surplus

$ 765,781

Statement of Operations

 

Year Ending Dec. 31, 2019

 

Premium Income

$ 1,204,635

Claims Incurred

1,058,191

Operating Expense

172,149

State Premium Tax

18,887

Operating Loss

(44,592)

Other Income

19,573

Income Tax Benefit

31,113

Net Income

$ 6,094

 

 

Changes in Policyholder Surplus

 

Balance, Beginning of Year

$ 495,742

Change in Unrealized Appreciation on Investments

14,650

Change in Non-Admitted Assets

(10,702)

Change in Net Deferred Income Tax

(16,432)

Distribution of Investments to Affliate

(40,310)

Contribution of Investment Pooling Funds to Affliate

(10,000)

Change in Pension and Postretirement Benefits

5,798

Net Income

6,094

Balance, End of Year

$ 444,840

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.