PROVIDENCE, R.I. — Rhode Island’s largest health insurer is still reporting a profit following a three-year trend of losing money, but officials say that could change with the elimination of an insurance subsidy program.
WPRI-TV reports Blue Cross and Blue Shield reported a net income of $40.2 million through Sept. 20. The insurer reported a net loss of $45.8 million at the same point last year.
The insurer’s net reserves are $59 million higher than they were last year.
Spokeswoman Gail Carvelli says half of the profits are due to changes enacted by management after last year’s loss.
Carvelli says they anticipate lower profits toward the end of the year due to the Trump administration’s decision to end an insurance subsidy program.
Information from: WPRI-TV, http://www.wpri.com