Blue Cross Blue Shield, the “the shark that swims just below the water” earned less in 2009 than in 2008 on flat revenue. It’s net margin was 2.1%, down from 3.6%. Because the insurance company is a non-profit, it does not have to worry about income* taxes, but 2.1% is about what Harris Teeter’s parent company earns after taxes and less than Target’s 3.8% after tax income.
* BCBSNC does pay premium taxes and other taxes that totaled $134 million.
