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Elevance Health Inc ELV Stock Quote

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NYSE:ELV

Morningstar‘s Stock Analysis ELV

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Elevance Health Remains the Local Scale Leader in U.S. Medical Insurance

Julie Utterback, CFA Senior Equity Analyst

Business Strategy and Outlook

| Julie Utterback, CFA |

Elevance Health (formerly called 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, Elevance recently overtook UnitedHealth as the largest medical insurer in the U.S. after acquiring a top-tier Medicare and Medicaid insurer in Puerto Rico. Elevance's position is particularly impressive given its limited geographic reach compared with UnitedHealth's national network. Specifically, Elevance's market share dives deep in its license states where it insures about one out of every 3 people. This high local market 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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Key Statistics ELV

Company Profile ELV

Business Description

Elevance Health (formerly known as Anthem) remains one of the leading health insurers in the U.S., providing medical benefits to roughly 47 million medical members as of September 2022. The company offers employer, individual, and government-sponsored coverage plans. Elevance 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, Elevance's reach expands beyond those states through government-sponsored programs such as Medicaid, too.

Contact
220 Virginia Avenue
Indianapolis, IN, 46204
T +1 800 331-1476
Industry Healthcare Plans
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 98,200

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