FARGO (AP) - The chief executive officer of Blue Cross Blue Shield of North Dakota says the health insurer is facing an estimated $22 million difference between premiums it collected and claims expenses paid.

Blues CEO Mike Unhjem says the projected underwriting loss is "not a crisis … but it's serious."

Unhjem said the state's largest private insurer had budgeted for an underwriting loss of $15 million for its fiscal year ending Dec.31. Claims have been rising faster than projected.

Insurance companies have other sources of income, primarily from investments, that keep them in the black financially. But Blues officials warn that the insurer might be forced to trim reimbursements to health care providers.

Blues executives met Wednesday with representatives of the state's largest health systems - MeritCare in Fargo, Altru in Grand Forks, and Medcenter One and St. Alexius in Bismarck.