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Elevance Health, Inc. (symbol: ELV) is a prominent American health insurance provider, formerly known as Anthem, Inc. until June 2022. As one of the leading health insurers in the United States, Elevance Health delivers medical benefits to approximately 47 million members as of December 2023. The company’s core business revolves around offering a wide range of coverage plans, including employer, individual, and government-sponsored options.
One distinctive feature of Elevance Health is its status as the largest single provider of Blue Cross Blue Shield branded coverage. As the licensee for the Blue Cross Blue Shield Association in 14 states, the company serves a significant portion of the U.S. population. Elevance Health has successfully expanded its offerings through strategic acquisitions, such as the purchase of Amerigroup in 2012 and MMM in 2021. These acquisitions enable the company to broaden its reach and better serve populations enrolled in government-sponsored programs like Medicaid and Medicare Advantage plans.
Elevance Health is committed to improving healthcare accessibility and affordability. The company consistently works on enhancing its services and products to meet the evolving needs of its members. Financially, Elevance Health has maintained a strong position, reflecting robust performance and growth potential.
Recent achievements include the expansion of digital health initiatives and partnerships with healthcare providers to offer more integrated and comprehensive care solutions. With its extensive network and innovative approach, Elevance Health continues to make significant strides in the healthcare industry.
Stay updated with the latest news and developments related to Elevance Health to understand its impact and future direction in the health insurance market.
Elevance Health reported robust first-quarter results for 2023, with a GAAP net income of $8.30 per share, including negative adjustments of $1.16 per share. Adjusted net income reached $9.46 per share. Operating revenue grew by 10.6% year-over-year to $41.9 billion, driven by an increase in medical membership to 48.1 million, up by 1.3 million members. The company declared a second-quarter dividend of $1.48 per share. Operating cash flow improved to approximately $6.5 billion, bolstered by early premium payments. Notably, operating gain also increased by 16.6% to $2.8 billion. The company anticipates GAAP net income exceeding $29.50 per share for the year.
Elevance Health (NYSE: ELV) will announce its first quarter 2023 financial results on April 19, 2023, at 6:00 a.m. EDT. A conference call to discuss these results and the company's outlook will follow at 8:30 a.m. EDT. Interested parties should dial in at least 15 minutes prior to the call using the provided numbers, including 888-947-9963 for domestic access. The call will also be available via webcast, and a replay can be accessed from 11:30 a.m. EDT on the same day until the end of May 19, 2023.
Elevance Health is dedicated to enhancing health outcomes, serving approximately 119 million people through a comprehensive range of healthcare solutions.
Continental General Insurance Company announced a definitive agreement to acquire a block of long-term care policies from Elevance Health (NYSE: ELV). This strategic move represents one of the few successful long-term care transactions in a decade, aimed at enhancing Continental General's TPA services. The acquisition furthers Continental General's mission to become a leading acquisition partner in the long-term care sector. The deal, set to close on April 3, 2023, will leverage Continental General’s over 60 years of insurance management experience for policyholders.
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