Syracuse, NY — Excellus Blue Cross Blue Shield collected $1 billion more in premiums last year, but spent nearly all of it on higher claims, according to financial statements filed with the state Monday.
Overall, Excellus lost $108 million on its core insurance business in 2025.
“Health care spending is rising sharply because several factors are accelerating at once,” Dr. Nicholas Massa, Excellus vice president of Medical Affairs, said in a statement to syracuse.com | The Post-Standard…