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BCBSRI posts $115M loss, announces layoffs

By GoLocalProv.com  
   March 06, 2025

Blue Cross & Blue Shield of Rhode Island has reported a net loss of $115 million for 2024 after experiencing a nearly 20% increase in health care costs over the past 18 months. The company also announced a 3% reduction in the workforce, which constitutes 30 employees. Driven by a surge in both healthcare prices and utilization, pharmacy costs for BCBSRI members jumped 14% in 2024, while outpatient care grew more than 10% over the prior year.

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