This is the first annual summary of financial performance for the unified CareFirst BlueCross BlueShield. It presents a clear picture of growth, financial strength and continued health care security for our members. Total enrollment exceeded 2.3 million by year-end 1998, reflecting a net increase of more than 142,000 new members.

Revenues also increased sharply last year, climbing to nearly $4 billion, up from $3.4 billion in the prior year. Net income rose from $63.2 million in 1997 to more than $75.7 million, with steady gains in each quarter of 1998. The company's reserves, a common measure of financial strength under generally accepted accounting practices, rose from $391 million at the end of 1997 to more than $472 million at year-end 1998, an increase of 20 percent.

To order a printed version of this annual report, simply click here.