Blue Cross Blue Shield of Massachusetts, the largest insurer in the state, today reported a operating loss of $173.1 million for the first half of the year as steeply-rising health spending continues to drag it into the red.

In 2024, the insurer reported its largest-ever yearly operational loss . The $400.4 million operational loss for 2024 reflected a 4.3% operating loss, which the health plan said was largely driven by pharmacy spending, specifically on GLP-1 drugs.

Stream NBC10 Boston news for free, 24/7, wherever you are. WATCH HERE

More on this story from Boston Business Journal

Get updates on what's happening in Boston to your inbox with our News Headlines newsletter. SIGN UP

See Full Page