2025 Annual Report

Real solutions for Rhode Islanders

As a local, nonprofit health insurer, Blue Cross & Blue Shield of Rhode Island (BCBSRI) took innovative, collaborative approaches to helping our members and our neighbors navigate a challenging year in healthcare. Here's a look at the progress we made together.

Martha L. Wofford, our President & CEO, shares how BCBSRI is working to improve access to high-quality, affordable care.

Outcomes

Measuring what matters

At BCBSRI, we serve our mission and our members, not shareholders. These outcomes show our focus on improving the health of Rhode Islanders and reducing the high cost of healthcare.

Access & Quality
Self care icon

200,000+

youth connected with mental health support and prevention

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9,250+

free health assessments conducted with members to identify care needs

Stethoscope heart icon

50,000+

care management services delivered to our members

Financial Stability & Healthcare Costs
Paper with cross icon

$43M

saved by avoiding added growth in healthcare costs, including through improved pricing and enhanced support for serious health conditions

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$20M

saved in operating expenses, including through technological efficiencies and consolidated vendor contracts

Briefcase icon

94%

of businesses chose to renew their employees' BCBSRI coverage

Member & Community Support
Hand heart icon

346,860+

neighbors impacted by our investments in housing, food security, and other community programs

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9,480+

hours volunteered by BCBSRI associates

Storefront icon

137,120+

visits to our stores and community events

Quality Care

Real solutions for expanding access to quality care

Better health and lower costs can go hand in hand. From primary care offices to local schools, we connected our members and our community with high-quality, cost-effective care.

Kathleen Orovitz, President & CEO of Navigant Credit Union, explains how BCBSRI coverage helps her employees take care of their health.

Stethoscope icon

Strengthening primary care in our state

By helping prevent and manage chronic conditions, primary care providers (PCPs) are essential for protecting our members’ health and managing overall healthcare costs. In 2025, we took significant steps to support primary care in our state:

  1. Increased payments to PCPs for our fully insured commercial plans by 35%, as mandated by the Office of the Health Commissioner’s updated affordability standards. Rhode Island PCP rates are now on par with Massachusetts. We’ll make additional rate increases totaling more than 50% by 2028.
  2. Voluntarily eliminated most primary care medical prior authorizations, which can reduce the administrative burden for PCPs.
  3. Introduced a contracting option that pays PCPs a fixed amount each month to improve their financial stability. This helps PCPs expand their care team, which increases access for our members.
Photo of man speaking with his doctor
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$500+ million

invested by BCBSRI in primary care—beyond the rates we pay doctors—over a 10-year period to help increase access to preventive and team-based care, including visits with nurses and pharmacists.

Alongside these efforts, we acted quickly to help our members when one of the state’s largest primary care practices closed with short notice last year. We coordinated with primary care practices that had the capacity to accept new patients and contacted 100% of our impacted members—95% chose a new PCP. We secured 7,000+ new patient visits for members who lost their PCPs.

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Reaching more than half of RI youth with mental health support

After the pandemic, many of our children were struggling. We set a goal to support half of the state’s youth—110,000 kids and teens—by 2025. Together with our community partners across the state, we worked to expand preventive efforts, with programs in nearly every school district in the state. We exceeded our goal and are seeing encouraging progress—reaching over 200,000 kids and teens. For our members, we also increased access to care and supported integration of behavioral health into primary care, resulting in lower hospital admissions and emergency room visits.

Self care icon

200,000+ youth

connected with mental health support and prevention from 2023-2025

Member Support

Real solutions for delivering personalized support

House calls. Virtual visits. Digital wellness tools. All at no extra cost to our members. By meeting members where they are, we’re helping them improve their health and reduce avoidable ER visits and hospitalizations.

Steven, a BCBSRI member, explains how the cancer care support program made a big difference in his health and quality of life.

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Offering 24/7 help to members living with cancer

The members in our new cancer care support program consistently tell us their healthcare experience now feels more coordinated, more personal, and less overwhelming. The program, launched in collaboration with Daymark Health1, was designed in partnership with local cancer institutes to provide additional support to our members to help them navigate oncology care. With deep experience in cancer care, Daymark works closely with members’ doctors to support their treatment plan.

Daymark clinicians offer:
  • At-home & virtual visits
  • Around-the-clock support and regular check-ins
  • Assistance with scheduling timely appointments
  • Help accessing the best care close to home for comfort and convenience
Photo of BCSBRI member Stephen G. speaking with Daymark nurse
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89 Net Promoter Score

for our cancer care support program, indicating a world-class level of customer satisfaction and loyalty

Learn more about how we're helping our members access high-quality, cost-effective cancer care
Photo of a person looking at the BlueCare Connect app on their smartphone
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Helping members make the most of their healthcare

To make it easier for our members to navigate the complex healthcare system, we introduced BlueCare Connect in 2025. Available online, through our app, or over the phone, BlueCare Connect brings together all of our members’ health benefits in one convenient location. Our members can access wellness programs, coverage information, chronic condition support, and customer service—and get personalized health support from Care Guides, nurses, and coaches.

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A member wanted to improve her nutrition and be more active, so I helped her set goals and connected her with resources. After four months, she met 99% of her goals and was really excited about her progress.

Michelle, RN, BlueCare Connect health coach

Consultation phone call icon

14,000+

calls where Care Guides provided additional support, from reminding members about screenings to connecting them with health programs

Medical app touch smartphone icon

67,000+

members registered for the BlueCare Connect app

Connecting more members with extra care

For our members living with chronic health conditions, extra help can improve their health and their lives. We offer tools and support to help members get the care they need and reduce their risk for complications, including hospital care.

We offer personalized programs for the most common health challenges our members face. In addition to our cancer care support program, we introduced new programs for members living with kidney disease and made remote monitoring devices available to members with congestive heart failure and chronic obstructive pulmonary disorder. We also made existing programs more widely available.

Doctor home visit icon

18,290+

visits through HouseCall by Blue, which was expanded to include all eligible members

Medical data heart rate icon

9,250+

health assessments in homes, through telemedicine, and (new in 2025) in Your Blue Store℠ and on Your Blue Bus

Stethoscope heart icon

50,000+

care management services delivered to our members

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Making it easier to get cancer screenings

From partnering with community organizations to drop off home test kits to arranging transportation for colonoscopies, we continued our campaign to increase screenings for colorectal cancer, which is highly preventable and treatable when caught early. We also sent email and text reminders to more than 25,000 members who were overdue for screenings for cancer and other diseases.

Photo of a doctor talking with her patient about results
Arrow descend icon

50%

reduction in racial disparities in colorectal screenings since 2022

Arrow ascend icon

10.7%

increase in overall colorectal cancer screening rates since 2022

Community

Real solutions for improving the health of our neighbors

Serving our community is at the heart of everything we do. In 2025, we supported more than 200 local nonprofits that are working to make life better for Rhode Islanders.

Lynn Page, Development Manager of Feed RI, describes their work to fight food insecurity and what it means to have BCBSRI's support.

RI Life Index logo

Understanding the challenges facing our community

To prioritize how we can best help our neighbors, we listen to them by turning to the RI Life Index. This statewide survey, a partnership of BCBSRI and the Brown University School of Public Health, provides a detailed snapshot of how our neighbors perceive the factors affecting their well-being. The overall score of 57 (on a 1-100 scale) was unchanged from 2024, the lowest score recorded.

In 2025, a companion to the RI Life Index, RI Voices, provided a deeper understanding of the urgent issues affecting Rhode Islanders, including housing and food security.

Photo of BCBSRI associate volunteering at BaRI
Photo of BCBSRI associate volunteering at BaRI
Photo of BCBSRI associates volunteering at BaRI
Harvest food icon

Responding to a crisis in food assistance

Over the last five years, an increasing number of our neighbors have needed help putting healthy food on the table. We support—and deeply value—the work of local nonprofits that are helping fill the plates of Rhode Islanders. In 2025, with rising prices, the federal government shutdown, and a lapse in SNAP benefits, the need for food assistance was record-breaking. In response, we gave emergency grants in appreciation of the dedicated staff at 15 agencies doing vital work to address food access.

Plate and utensils icon

87,300+

neighbors impacted by our food security investments

Highlighted programs

We're proud to support these nonprofits and many others addressing food security in our state.

RI Community Food Bank

Distributing food through their network of member agencies across the state

Farm Fresh Rhode Island

Increasing healthy food access for women, children, and seniors

The ELISHA Project

Providing food and household essentials through pop-up share markets

House heart icon

Supporting access to affordable housing

Having a safe, affordable place to live is important for the well-being of every Rhode Islander. Through our 2025 BlueAngel Community Health Grants and individual project funding, we continued to invest in nonprofits helping our neighbors access stable housing—from creating new apartments to arranging rental assistance to providing legal services.

House construction icon

13,500+

neighbors impacted by our housing investments

Photo of BCBSRI associates volunteering at BaRI
The Civic 50 logo

BCBSRI was honored to be named one of America's 50 most community-minded companies by Points of Light—the world's largest organization dedicated to volunteer service.

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Companies like Blue Cross & Blue Shield of Rhode Island are leading the way in showing how social impact benefits their employees' well-being, strengthens the communities where they do business, and brings value and meaning to their work.

Jennifer Sirangelo, President and CEO, Points of Light

Healthcare Costs

Working together to bring healthcare costs under control

At BCBSRI, we know that rising healthcare costs are a real concern for families, businesses, and our state—and deserve real solutions.

In 2025, healthcare costs continued to rise at unprecedented levels. We saw increases in every category of care and in every market we serve, which drove up premium costs.

The financial pressure facing our members and customers is significant—and unsustainable. To help control healthcare costs, we took action to tackle the root causes driving these increases, working in collaboration with our provider partners and the community. We also lowered our operating expenses to achieve additional savings on behalf of our members.

We must continue to work together to create the healthcare system that Rhode Islanders deserve.

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Managing costs with high-quality, cost-effective care

In 2025, the amount BCBSRI spent on medical and pharmacy claims increased by $183 million from 2024. To help reduce the impact of rising costs on families and businesses, we worked throughout the year to negotiate better pricing and improve the quality of care for our members, leading to $43 million in savings from avoided costs. As part of these efforts, we helped make medicines more affordable. We also provided extra support to help members with serious conditions improve their health and avoid unnecessary hospital care.

Photo of a nurse and doctor waking in a hospital corridor
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$43 million saved

by avoiding added growth in healthcare costs in 2025

Learn more about our work to increase access to high-quality, affordable care in Today’s Healthcare Costs
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Lowering operating expenses

In 2025, BCBSRI consolidated vendor contracts, deployed technologies for greater efficiency, and reduced our workforce with a focus on leadership roles. While administrative costs are a small percentage of total costs, we're working to lower them further.

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$20 million saved

in operating expenses in 2025

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Addressing drug costs through negotiated pricing and innovation

We're focused on strategies that help members get the medication they need at a cost they can afford, including:

  1. Partnering with Blue Cross Blue Shield companies to collectively negotiate lower prices on high-cost specialty drugs through Synergie Medication Collaborative2 and to manufacture lower cost generic medications through CivicaScript3
  2. Shifting to biosimilar and generic medications that offer comparable quality at significantly lower costs
  3. Working with local health systems to deliver specialty drugs, which saves money, helps patients get drugs faster, and provides crucial revenue to local providers

Our CEO’s perspective

Our President & CEO Martha L. Wofford shares creative, collaborative approaches for controlling healthcare costs and improving access to high-quality, affordable care.

Please note that you may need a Boston Globe subscription to access the article.

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BCBSRI saw healthcare costs rise in every area of care in 20254

Inpatient

14%

driven by increased high-cost hospital admissions

Professional services

8%

driven by increased visits to specialists and other providers and increased reimbursement for PCP visits

Pharmacy

7%

driven by specialty drugs and GLP‑1s for diabetes

Outpatient

6%

driven by increased costs for outpatient procedures

2025 Financials

Improving stability in a challenging environment

In 2025, medical and pharmacy costs continued to rise at unprecedented levels both nationally and locally, pushing healthcare premiums to unaffordable levels. At BCBSRI, we took important steps to improve management of medical costs and lower administrative expenses, reducing our operating losses by $37 million from 2024.

While we improved business fundamentals, we experienced a $78 million operating loss on a normalized basis*, requiring ongoing diligence to restore the company to break-even financial performance and to make healthcare more affordable.

Normalized operating results give a clearer view of our underlying performance, removing one-time adjustments and items related to other years. With those adjustments and items included—and with the benefit of investment income—we ended the year with a net gain of $14 million on a reported basis.

As a local, tax-paying nonprofit health plan, we serve our members and not shareholders. Any money remaining after paying claims and expenses goes into a reserve fund for the future protection of our members.

There is significant work to be done to continue to reduce healthcare costs, and it must be done in collaboration with our provider and community partners to ensure the sustainability of our healthcare system for our members, customers, and all Rhode Islanders.

Reported financial results

These numbers reflect reported results.

Premium Revenue

$2.43 billion

In 2025, we recorded nearly $2.43 billion in premiums from members (individuals and employers).

Total expenses

$2.44 billion

From total revenue, more than $2.19 billion was used for medical and dental claims for our members. This amount accounted for 90.4% of premium revenue collected. The organization spent more than $267 million, or 10.8% of premiums (including premium taxes), on expenses to support the core operations of our business.

Operating Loss

$10 million

Our premium revenue didn’t cover our total expenses, resulting in an operating loss of $10 million. (On a normalized basis, the operating loss was $78 million as described above.)

Investment Income

$24 million

We recorded a $24 million gain from investment income.

Net gain

$14 million

Overall, total revenue stood at more than $2.45 billion, and expenses were nearly $2.44 billion in 2025, resulting in a net gain of $14 million.

Statutory reserves

$362 million

In 2025, statutory reserves that we held for the protection of our members totaled more than $362 million at year-end. This reflects an increase of $25 million from the previous year. This is money we set aside to pay future claims and equals about 2 months of claims paid.

*Normalized results should be considered in conjunction with, not as a substitute for, reported financial results.

NOTE: Numbers may not add up due to rounding. This formulation represents unaudited results utilizing Statutory Accounting Principles. The Blue Cross and Blue Shield Association licenses Blue Cross & Blue Shield of Rhode Island to offer certain products and services under the Blue Cross and Blue Shield brand names. Blue Cross & Blue Shield of Rhode Island is an independent organization governed by its own Board of Directors and solely responsible for its own debts and other obligations. Neither the Association nor any other organization using the Blue Cross and Blue Shield brand names acts as a guarantor of Blue Cross & Blue Shield of Rhode Island's obligations. A copy of Blue Cross & Blue Shield of Rhode Island's most recent financial statements is available at the state Department of Business Regulation.

1Daymark Health, Inc. (“Daymark”) is an independent company contracted with BCBSRI to provide care coordination services. Daymark has contracted with Daymark Health DE LLC (“Medical Group”) to enable access to Medical Group’s employed licensed providers to provide clinical services.

2Synergie Medication Collective℠ is an independent entity owned by a group of Blue Cross and Blue Shield affiliated companies.

3Civica Rx is an independent company partnering with Blue Cross & Blue Shield of Rhode Island and other Blue Cross and Blue Shield companies to provide select generic drugs to members.

4The increases noted are for fully insured BCBSRI commercial plans.