Previous Annual Reports

CEO Letter

Andrew Dreyfus

We have taken the lead in offering solutions to complex issues that extend far beyond our own membership.

Andrew Dreyfus President & CEO

Read Full Message

Year in Review

We enter 2017 financially and operationally strong, with our priorities firmly grounded in our Promise to Always put our members first and our Vision of Making quality health care affordable.

Company Overview


Associates Employed


Employer Accounts


Blue Cross Blue Shield Members


Massachusetts Members


Out-of-State Members

Product Lines






Senior Products/Medicare


Dental Members

Operational Highlights


Calls Answered


Claims Processed


Paid Toward Member Care


Taxes and Assessments Paid

Per Dollar Spent

90¢ Medical Care
45¢ Hospital Services
30¢ Physician Services
15¢ Prescription Drugs
10¢ Administrative Costs
  • Pay & Benefits

  • Facilities Maintenance

  • Contributions to Reserves

  • IT Investments

  • Taxes & Assessments

Zaffre Investments

We created Zaffre Investments to help fund innovations aimed at improving the delivery and use of health care.


Portfolio Companies


Portfolio Revenue


Companies Reviewed

Corporate Citizenship


Associate Volunteers


Value of Volunteer Service


Corporate Giving


Foundation Giving


Nonprofits Supported


Reduction in Electricity
Use (since 2010)


Reduction in Waste to
Landfills (since 2010)


Reduction in Paper
Use (since 2010)

Diversity & Inclusion

Associates of Color

Female Associates

Millennial Associates

Leadership Positions held
by Women (VP and above)

Associates in an Employee
Resource Group

Awards & Recognition

Boston Business Journal
Healthiest Employers in Massachusetts

Boston Business Journal
Top Charitable Contributor in Massachusetts

Boston NAACP
Black Professional Network ERG Difference Maker

Human Rights Campaign Foundation
Best Places to Work for LGBT Equality

Excellence in Commuter Options

NAAAP Boston
Valued Corporate Partner

Out & Equal at Work
LGBT ERG of the Year

Rosoff 2020
Change Agent

Springboard Consulting
Disability ERG Award of Excellence

Worcester Business Journal
Best Health Insurance Provider

1 National Committee for Quality Assurance (NCQA) Medicare Health Insurance Plan Ratings 2016-2017. Blue Cross Blue Shield of Massachusetts' Medicare Advantage PPO plan and Medicare Advantage HMO plan are rated 4.5 out of 5 overall nationally. NCQA is not affiliated with Blue Cross Blue Shield of Massachusetts or CMS, nor is the award given or endorsed by Medicare.

2 National Committee for Quality Assurance (NCQA) Private Health Insurance Plan Ratings 2016–2017.

3 Medicare evaluates plans based on a 5-star rating system. Star ratings are calculated each year and may change from one year to the next. Star Ratings can be found at


Watch this space for our 2016 Audited Financial Reports and 2016 Combined Balance Sheets and Income Statements, due to be completed in May.

Our Vision

Jeff Bellows

Our vision is to help people across the Commonwealth thrive as healthy and engaged citizens by supporting programs and organizations that foster healthy eating, healthy, active lifestyles, and healthy environments.

Jeff Bellows Vice President, Corporate Citizenship & Public Affairs

Read Full Message

Executive Leadership

Executive Leadership

Front row (left to right)

Stephanie Lovell Executive Vice President, Medicare and Chief Legal Officer

Deborah Devaux Chief Operating Officer

Andrew Dreyfus President and Chief Executive Officer

Andreana Santangelo Executive Vice President, Chief Financial Officer

Jason Robart President and CEO, Zaffre Investments, Chief Strategy Officer

Back row (left to right)

Jay McQuaide Senior Vice President, Corporate Communications & Citizenship

Patrick Gilligan Executive Vice President, Sales, Marketing & Product

Bruce Nash Chief Physician Executive

Susan Sgroi Senior Vice President, Organizational Effectiveness, Chief Human Resources Officer

Board of Directors

Board of Directors

Standing (left to right)

Dorothy Puhy Director

George Alcott, III Director

Timothy Sweeney Director

Francis Callahan, Jr., Director

Andrew Dreyfus President and Chief Executive Officer

Ralph Martin, II Director

Robert Meenan, M.D. Director

Marcy Reed Director

Sitting (left to right)

Paula Price Director

Helen Drinan Vice Chair

Benaree Wiley Director

Phyllis Yale Chair

Adriana Karaboutis Director

Not Pictured

Donald Stern Director

Annual Report PDF

View or download the 2016 Blue Cross Blue Shield of Massachusetts Annual report in PDF format


Blue Cross Blue Shield of Massachusetts is an Independent Licensee of the Blue Cross and Blue Shield Association.
® Registered Marks of the Blue Cross and Blue Shield Association.
©  2016 Blue Cross and Blue Shield of Massachusetts, Inc.
101 Huntington Avenue, Suite 1300, Boston, MA 02199-7611 | 1-800-262-BLUE (2583)