PORTLAND, Ore. - Regence BlueCross BlueShield of Oregon paid $2.9 billion in health care for its fully insured members in 2025, or $6,022 per member (excluding the impact of reinsurance), according to unaudited figures filed today with the Oregon Division of Financial Regulation.

Health care costs per member with comprehensive coverage (excluding the impact of reinsurance) increased 15% from 2024 and continue accelerating at rates higher than historical norms. The rise in claims costs continues to be driven by significant increases in cost of care and prescription drugs. Financial pressures and regulatory shifts led to strategic adjustments to product offerings and geographic coverage in specific lines of business, resulting in a slight decline to Regence's membership. Regence ended 2025 serving more than 950,000 people, including self-funded and BlueCard® members.

Although Regence had an operating loss of 1.3%, on total revenue of $3.18 billion, it had a net income of 1.5% due to positive investment returns. The company places net income in its capital reserves to ensure stable health care coverage. As a tax-paying, not-for-profit health plan, this critical safety net is Regence's only source of funds for investing in new solutions to address health care challenges, meet the changing needs of consumers and pay higher than expected medical costs.

"The health care industry faces unprecedented cost pressures, but our financial stability enables us to invest in solutions to help meet today's challenges," said Michael Cole, president of Regence BlueCross BlueShield of Oregon. "By combining financial discipline with innovative approaches to addressing health care affordability, we work every day to ensure our members have access to high-quality care when and where they need it."

Regence incurred approximately $55.8 million in federal and state income taxes and fees in 2025.

Community impact

Founded in 1941, Regence and its affiliated companies employ nearly 3,400 people across Oregon, and the company is committed to investing in the communities it serves. Together with its corporate foundation and employees, Regence contributed nearly $2.4 million to benefit Oregon nonprofit organizations, and employees donated more than 6,000 volunteer hours in 2025.

About Regence BlueCross BlueShield of Oregon

Regence BlueCross BlueShield of Oregon, headquartered in Portland, has served Oregonians since 1941 and now provides nearly one million people with comprehensive health insurance solutions. As a taxpaying, nonprofit 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 nationwide experience health care. For more information, please visit regence.com or facebook.com/regencebluecrossblueshield.