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Anthem Inc - Stock Quote ANTM

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Morningstar's Anthem Inc Stock Analysis

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Anthem Maintains Lead as the Local Scale Leader in Managed Care

Julie Utterback, CFA Senior Equity Analyst

Business Strategy and Outlook

| Julie Utterback, CFA |

Anthem continues to capitalize on its enviable position as the exclusive licensee of the Blue Cross Blue Shield brand in 14 states. We would argue that the Blue Cross Blue Shield brand is the most recognizable and trusted franchise in the U.S. health insurance industry. As the largest Blue Cross Blue Shield operator, Anthem recently overtook UnitedHealth as the largest medical insurer in the U.S. after acquiring a top-tier Medicare and Medicaid insurer in Puerto Rico. Anthem's position is particularly impressive given its limited geographic reach compared with UnitedHealth's national network. Specifically, Anthem's market share dives deep in its license states where it claims average membership share of about 35%. This high local share remains particularly valuable in health insurance since medical-care providers typically only operate in limited geographic areas, making local market share the most relevant to most reimbursement negotiations.

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Anthem Inc's Company Profile

Business Description

Anthem remains one of the leading health insurers in the U.S., providing medical benefits to roughly 45 million medical members. The company offers employer, individual, and government-sponsored coverage plans. Anthem differs from its peers in its unique position as the largest single provider of Blue Cross Blue Shield branded coverage, operating as the licensee for the Blue Cross Blue Shield Association in 14 states. Through acquisitions, such as the Amerigroup deal in 2012 and MMM in 2021, Anthem's reach expands beyond those states through government-sponsored programs such as Medicaid, too.

220 Virginia Avenue
Indianapolis, IN, 46204
T +1 800 331-1476
Sector Healthcare
Industry Healthcare Plans
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Aggressive Growth
Employees 98,200

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