Elevance Health Inc.
American health benefits company providing medical, pharmacy, behavioral, and dental insurance products and services, formerly known as Anthem.
Company Type
public
Founded
1946
Headquarters
Indianapolis, Indiana, USA
Stock
NYSE: ELV
Revenue
approximately $174.9 billion (FY2024)
Employees
Approximately 100,000
Primary Market
United States
renewable energynet zero emissionsclimate resiliencyesg reporting
About Elevance Health Inc.
Elevance Health operates through several key business segments focused on health benefits and services. The company provides health insurance products to individuals, employers, and government programs including Medicare and Medicaid.
The Health Benefits segment includes medical, pharmacy, behavioral health, and dental insurance products. Elevance Health serves millions of members through its Blue Cross Blue Shield plans in 14 states and through its Anthem brand in other markets.
Elevance Health has also developed an integrated care delivery system through its Carelon subsidiaries. Carelon provides pharmacy benefits management, behavioral health services, care management, and other health services that complement the company's insurance offerings.
The company has invested heavily in digital health platforms and data analytics to improve care coordination and health outcomes. Elevance Health's whole health approach focuses on addressing social determinants of health and providing comprehensive care solutions.
Elevance Health employs approximately 104,000 people and generates annual revenues exceeding $140 billion. The company serves millions of members across the United States and maintains significant market positions in commercial, Medicare, and Medicaid markets.
History of Elevance Health Inc.
Elevance Health traces its origins to 1946 when Blue Cross and Blue Shield organizations began merging to create statewide health insurance plans. The company operated under various Blue Cross Blue Shield names until 2004 when it adopted the Anthem name and became publicly traded.
Throughout the 2000s and 2010s, Anthem expanded significantly through acquisitions and organic growth. The company acquired WellPoint Health Networks in 2004, which brought additional Blue Cross Blue Shield plans under the Anthem umbrella. Anthem continued to expand its footprint across the United States, becoming one of the largest health insurers in the country.
In 2018, Anthem launched its whole health strategy, focusing on integrated care delivery and health improvement beyond traditional insurance. The company invested in digital health capabilities, data analytics, and care coordination to better serve its members.
In June 2022, Anthem announced a major corporate transformation, changing its name to Elevance Health and its stock ticker symbol from ANTM to ELV. The rebranding reflected the company's evolution beyond traditional health insurance into a broader health services organization focused on advancing health beyond healthcare.
Elevance Health Inc. Sustainability & Ethics
Elevance Health has implemented comprehensive sustainability and ethical practices focused on environmental responsibility, healthcare accessibility, and corporate governance in the healthcare sector. The company achieved its 100% renewable electricity target in 2021, four years ahead of schedule, demonstrating strong commitment to environmental sustainability.
Environmental sustainability initiatives include pursuing net zero emissions across scope 1, 2, and 3 emissions, procuring 100% renewable electricity for operations, and engaging with strategic suppliers to set science-based GHG emissions reduction targets. The company's environmental policy and strategy are overseen by the Governance Committee of the Board of Directors.
Climate and community resiliency efforts include supporting disaster relief organizations through the Elevance Health Foundation, providing financial support to consumers and communities during difficult times, and participating in the National Commission on Climate and Workforce Health to address climate-related health risks.
The company maintains strong ethical standards regarding healthcare pricing transparency, data privacy, and patient care quality. Elevance Health operates under comprehensive compliance programs to address healthcare regulations and maintain ethical business practices across all operations.
Awards & Recognition
Elevance Health has received recognition for its leadership in healthcare innovation, sustainability initiatives, and corporate responsibility in the healthcare industry.
- **Environmental Leadership:** Recognition for achieving 100% renewable electricity target ahead of schedule and commitment to net zero emissions
- **Healthcare Innovation:** Awards for digital health solutions, integrated care models, and data analytics capabilities
- **Corporate Responsibility:** Recognition for community engagement, disaster relief support, and climate resiliency initiatives
- **Workplace Excellence:** Awards for workplace diversity, employee wellness programs, and inclusive corporate culture
- **Healthcare Quality:** Recognition for patient care quality, disease management programs, and preventive health initiatives
Controversy, Regulation & Public Scrutiny
Elevance Health operates in the highly regulated healthcare industry and faces significant scrutiny regarding healthcare pricing, regulatory compliance, and market practices. The company maintains comprehensive compliance programs to address regulatory requirements and ethical concerns.
The company faces ongoing scrutiny regarding healthcare costs and pricing transparency, with regulators and consumers examining insurance premiums, medical cost trends, and reimbursement rates. Elevance Health operates under strict healthcare regulations including HIPAA, ACA requirements, and state insurance regulations.
Regulatory oversight includes compliance with federal and state healthcare laws, insurance regulations, and healthcare reform requirements. The company maintains legal and compliance teams to navigate complex healthcare regulatory environments and ensure adherence to all applicable laws.
Public controversy includes debates about healthcare affordability, insurance coverage decisions, and the role of private insurance in the healthcare system. Elevance Health addresses these concerns through transparency initiatives, community engagement, and participation in healthcare policy discussions.
Brands Owned by Elevance Health Inc.
Elevance Health Inc. owns 0 brands in our database.
Stock Information
Elevance Health Inc. Ownership: Pros & Cons
Advantages
- +Diversified health benefits portfolio across multiple markets
- +Strong market position in Medicare Advantage and Medicaid
- +Integrated care delivery model through Carelon subsidiaries
- +Significant scale and geographic diversification
- +Focus on digital health and data analytics capabilities
Considerations
- -Regulatory scrutiny over healthcare pricing and practices
- -Complex healthcare regulations affecting operations
- -Competition from other large insurance companies and healthcare providers
- -Pressure on healthcare costs and pricing transparency
- -Balance between growth and regulatory compliance
Frequently Asked Questions About Elevance Health Inc.
Is Elevance Health a subsidiary of another company?
Elevance Health is an independent, publicly traded corporation with no parent company. The company operates independently with its own management structure and board of directors, though it was formed through the merger of various Blue Cross Blue Shield organizations over several decades.
Is Elevance Health publicly traded?
Yes, Elevance Health is publicly traded on the New York Stock Exchange under the ticker symbol ELV. The company has been publicly traded since 2004 under its former name Anthem, with the ticker symbol changing to ELV in 2022.
When was Elevance Health founded?
Elevance Health traces its origins to 1946 when Blue Cross and Blue Shield organizations began merging. The company operated as Anthem from 2004 until changing its name to Elevance Health in June 2022.
Who founded Elevance Health?
Elevance Health was formed through the merger of various Blue Cross and Blue Shield organizations over several decades, with the current corporate structure resulting from multiple consolidations of regional health insurance providers.
Sources & Further Reading
- Elevance Health Official Website
- Elevance Health Investor Relations
- New York Stock Exchange
- SEC EDGAR Filings: Elevance Health Inc.
- Elevance Health Environmental Sustainability
- 2024 Impact Report
- CSRHUB Sustainability Information
- Sustainability Magazine
- National Commission on Climate and Workforce Health
- National Academy of Medicine
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