Blue Cross and Blue Shield of Minnesota has eliminated 60 jobs at its headquarters in Eagan as part of a broader push that also eliminated 40 positions at its operations on the Iron Range.
The jobs eliminated last month in Eagan were listed this week on the state Department of Employment and Economic Development website, which tracks plant closings and mass layoffs. In March, Blue Cross confirmed cuts in the Iron Range community of Virginia.
“The recent changes — both in Eagan and Virginia — are consistent with the normal course of business administration adjustments that take place on an ongoing basis,” Blue Cross said Friday in a statement.
With about 3,800 employees overall, Blue Cross is the state’s largest nonprofit health plan.
During 2018, the company’s health insurance business posted an increase in net income to $20.2 million due in part to a turnaround in its business managing care for beneficiaries in state public health insurance programs. Blue Cross also reported income in the market where individuals buy coverage, offset to a degree by expenses related to a big shift in Medicare coverage.
While health insurance was more profitable last year, Blue Cross’s parent company, which is called Stella, posted an overall loss of $93 million due in large part to slumping investment returns.
On Friday, Blue Cross reiterated an earlier statement about job cuts on the Iron Range, which said in part: “By centralizing resources and staffing levels around key strategic priorities, Blue Cross is well-positioned to deliver solutions that can generate the best health experiences for our nearly three million members.”
Improved financial performance from health insurance at Blue Cross fit with the general trend last year for nonprofit health plans in the state. The Minnesota Council of Health Plans, which is a trade group, said the state’s seven nonprofit insurers collectively posted about $590 million in net income for 2018.