Anthem (Elevance Health)
One of the largest U.S. health insurers, formerly known as Anthem, serving ~45.7 million medical members.
Elevance Health SEC Form 10-K (FY2024)Elevance Health, Inc. (formerly Anthem, Inc.) is one of the largest health insurance companies in the United States, headquartered in Indianapolis, Indiana. The company rebranded from Anthem to Elevance Health in June 2022, changing its NYSE ticker from ANTM to ELV. It ranks #22 on the Fortune 500 and employs approximately 98,200 full-time employees, with CEO Gail Koziara Boudreaux at the helm since 2017.
The company serves approximately 45.7 million medical members through affiliated health plans and operates as an independent licensee of the Blue Cross and Blue Shield Association across 14 states, including California, New York, Georgia, Ohio, and others. Its business is organized into four segments: Health Benefits (individual, employer group, Medicare, Medicaid, and more), CarelonRx (pharmacy), Carelon Services (health services), and Corporate & Other.
For full-year 2024, Elevance Health reported $175.2 billion in operating revenue—a 2.9% increase over 2023—and approximately $5.98 billion in profit. Growth was driven by higher premium yields, completed acquisitions, and CarelonRx expansion, partially offset by Medicaid attrition.
Strategically, Elevance Health has been expanding its footprint and consolidating its brands. In January 2023 it agreed to acquire Blue Cross and Blue Shield of Louisiana, and it rebranded its Amerigroup Medicaid business as Wellpoint starting in 2024. Innovations in healthcare delivery, digital health, and managed care are directly relevant to this company given its massive membership base and growing Carelon health services platform.