PROVIDENCE – Blue Cross & Blue Shield of Rhode Island finished 2025 in the red with a $78 million operating loss but improved financially year over year.
The $78 million normalized operating loss narrows to a $10 million loss when one-time adjustments and items related to previous years are included, the company said in its yearly financial report released last week. When $24 million in investment income is factored in, the insurer posted a $14 million net gain.
With a 2025 revenue of $2.43 billion in premiums from employers and individual members, the company insurer posted a -3.2% margin.
Though operating expenses remain negative, the 2025 figure represents an uptick from 2024, when Blue Cross & Blue Shield of R.I. reported a $115 million loss and r
evenue of $2.21 billion, amounting to a -5.2% margin.
In the 2025 financial report, the company describes its financial state as "stable, with adequate reserves and capital to meet its financial obligations."
In a statement, Martha L. Wofford, president and CEO of Blue Cross & Blue Shield of R.I., attributed last year's results to "extremely elevated" medical and pharmacy costs, as well as an overall fragile health care environment.
"Narrowing our operating losses by $37 million is the result of actions we have taken to operate with greater discipline and reduce costs,” Wofford said.
However, "there is significant work to be done to improve the sustainability, functioning, and financing of our healthcare system," she added.
The company also reported $2.44 billion in total expenses and $362 million in statutory reserves at the end of 2025.
Jacquelyn Voghel is a PBN staff writer. You may reach her at Voghel@PBN.com.