Regence BlueShield of Idaho paid $637 million for member health care in 2024
BOISE, Idaho – Regence BlueShield of Idaho paid $637 million in health care for its fully insured members in 2024 or $2,506 per member, according to unaudited figures filed today with the Idaho Department of Insurance.
Regence continued to grow and ended 2024 serving more than 370,000 people, including self-funded and BlueCard® members. This strong membership growth was coupled with a significant rise in the cost of prescription drugs and medical care, including contract negotiations with providers. Despite an operating loss of 1.2%, on total revenue of $734 million, Regence had net income of 0.7%. The modest gain was due largely to positive investment returns.
The company’s capital reserves remain strong, ensuring stable health care coverage and the ability to pay member claims. As a taxpaying nonprofit, this critical safety net is Regence’s only source of funds for investments, cyber defense and paying higher than expected medical costs.
“In Idaho, we're proud to be a trusted partner in the pursuit of better health, serving more than 370,000 neighbors with unwavering dedication and a passion for excellence,” said Mark Ruszczyk, president of Regence BlueShield of Idaho. “Our financial stability is a testament to our enduring commitment to the people of Idaho, and we're honored to continue serving as an advocate for affordable, high-quality care in our communities.”
Regence incurred $21.8 million in federal and state income taxes and fees in 2024.
Community impact
Founded in 1946 in north-central Idaho, Regence and its affiliates employ more than 600 people in Boise, Lewiston, Pocatello and Coeur d’Alene, and the company is committed to investing in the communities it serves. Together with its corporate foundation and employees, Regence contributed more than $537,000 to benefit Idaho nonprofit organizations, and employees donated more than 2,600 volunteer hours in 2024.
About Regence BlueShield of Idaho
Regence BlueShield of Idaho, based in Lewiston, has served Idahoans for 79 years and supports more than 370,000 people across the state. As a taxpaying nonprofit mutual insurance company and independent licensee of the Blue Cross and Blue Shield Association, Regence is part of a family of companies dedicated to transforming health care by delivering innovative products and services that change the way consumers in Idaho and nationwide experience health care. For more information, please visit , facebook.com/regenceblueshieldofidaho.
