Welcome to our dedicated page for Elevance Health news (Ticker: ELV), a resource for investors and traders seeking the latest updates and insights on Elevance Health stock.
Elevance Health, Inc. operates a health benefits and healthcare services platform built around affiliated health plans and the Carelon services business. Recurring company news covers Health Benefits results, premium yields, medical-cost trends, Medicaid, Medicare Advantage and employer group membership, and Carelon activity in pharmacy services, behavioral health, value-based care, care delivery, clinical, home health and complex care solutions.
Company updates also address small and midsize employer benefit offerings such as Balanced Funding and MEWAs, primary-care recognition and value-based provider programs, partnerships tied to family and community health, annual and quarterly financial guidance, and leadership changes across Health Benefits and Carelon.
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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.
The Advancing Health Together: Progress Report from Elevance Health (NYSE: ELV) highlights its partnerships with care providers to enhance health access, outcomes, and affordability. The report reveals that 80% of a person’s health is influenced by factors beyond the doctor's office, prompting Elevance Health to utilize its extensive data to support care providers. Currently, Elevance serves over 47.5 million Americans and manages more than 1.7 million care provider relationships nationwide. The company emphasizes the importance of collaboration in achieving measurable improvements in whole health.
The Standard has announced a definitive agreement to acquire Elevance Health's Life & Disability business. This strategic move combines the strengths of both companies, emphasizing their commitment to customer service and benefits administration. The Standard will operate under its brand, incorporating Elevance's employees and operations. The partnership aims to enhance distribution channels, bringing additional life and disability insurance products to customers. Upon closing, The Standard will gain access to Elevance's portfolio, serving approximately 4.8 million covered lives in 14 states, thereby accelerating its growth and market presence in the U.S.
Anthem Blue Cross and Blue Shield in Georgia has launched Virtual-First health plans, providing eligible members with affordable access to virtual care options. The plans include an AI-driven symptom checker and support for chronic condition management. Starting from July 2023, these plans aim to improve healthcare experiences by seamlessly connecting virtual and in-person care through the Sydney Health app, available 24/7. Members benefit from various cost-share options, potentially including no coinsurance for virtual care. These services will also cater to national account ASO clients beginning January 1, 2024.
Elevance Health (NYSE: ELV) will host an Investor Conference on March 23, 2023, in New York City. The event features presentations and Q&A sessions with senior leadership, webcast live from 8:00 a.m. ET to 12:00 p.m. ET. Interested parties can register for the webcast here or visit ElevanceHealth.com. Presentations will be available for download later on the website.
AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating of 'a-' (Excellent) for WellPoint Insurance Services, Inc. (WISI), a wholly owned subsidiary of org value="NYSE:ELV"Elevance Health. The outlook remains stable. WISI’s balance sheet strength is deemed adequate, with improved risk-adjusted capitalization but a projected decline in 2022 due to reserve strengthening and unrealized losses. WISI's core operations, particularly in the Federal Employees Health Benefits Program, remain strong, although operating results in other business lines have fluctuated.
Elevance Health released a study indicating that individuals experiencing long COVID face significantly higher risks for various adverse cardiovascular and pulmonary conditions, as well as increased mortality rates compared to those without COVID-19.
The study, the largest of its kind involving 13,435 long COVID patients, highlights that:
- 2.35 times more likely to experience cardiac arrhythmias
- 3.64 times more likely to face pulmonary embolism
- 2.8% mortality rate in long COVID patients versus 1.2% in non-COVID patients
This highlights a need for better care management programs to address these risks.