Blue Cross and Blue Shield plans reported their fifth consecutive year of profits in 1993 with an underwriting gain of 2.2%, or $2.6 billion, on revenues of $71.2 billion.
The trade group said its 69 plans together had their most profitable year since 1985. Their performance topped 1992 results, which saw gains of $1.9 billion on revenues of $71 billion. Aggregate reserves stand at $14.8 billion.
Thomas Kinser, the Blues' executive vice president and chief operating officer, said the plans' investment in managed care has begun to pay off. He said more than 24 million people are enrolled in Blues-sponsored managed-care networks, which represents 37% of total enrollment.