Elevance Health

Elevance Health, Inc. is a United States health insurance and healthcare services company headquartered in Indianapolis, Indiana. The company was known as Anthem, Inc. until June 2022 and traces its corporate history to Blue Cross and Blue Shield insurers established in Indiana and California during the twentieth century. Its principal business is the design, administration, and delivery of health benefit programs for individuals, employers, government agencies, and other organizations. The company provides commercial medical insurance, Medicare Advantage, Medicaid managed care, pharmacy-related services, dental and vision coverage, behavioral-health programs, long-term-care and disability benefits, and healthcare delivery and care-management services. Its affiliated brands and operating companies have included Anthem Blue Cross and Blue Shield, Anthem Blue Cross, WellPoint, Amerigroup, Simply Healthcare, CareMore, and Carelon. The Blue Cross and Blue Shield products operate under state-specific licenses and names, while Carelon houses several healthcare-services businesses, including behavioral health, specialty care, pharmacy-related capabilities, and business-process operations. Elevance developed through a long sequence of insurer combinations. Its Indiana predecessors began as Mutual Hospital Insurance and Mutual Medical Insurance in 1946, later operating as Blue Cross of Indiana and Blue Shield of Indiana. The company expanded through acquisitions and reorganizations, including the purchase of Trigon Healthcare in Virginia. Separately, Blue Cross of California developed WellPoint Health Networks, which expanded through acquisitions of group insurance, managed-care, dental, vision, and regional Blue Cross businesses. The two corporate lineages combined in 2004, creating WellPoint, Inc.; the company continued to use Anthem as a major consumer-facing brand. The company became Anthem, Inc. in 2014–2015 and subsequently expanded its government-sponsored business through acquisitions including Amerigroup, Simply Healthcare, Beacon Health Options, Puerto Rico-based MMM Holdings, and Integra Managed Care. In 2022, it adopted the corporate name Elevance Health and changed its New York Stock Exchange ticker from ANTM to ELV. The rebranding was intended to represent a broader healthcare-services platform rather than an enterprise identified primarily with the Anthem insurance label. Elevance primarily serves the United States, with affiliated plans and service operations across numerous states and Puerto Rico. Its business includes employer-sponsored and individual plans, Medicaid programs, Medicare Advantage products, and services supporting providers and members. As reported for 2022, affiliated health plans covered approximately 46.8 million members. The company is one of the largest for-profit managed-care organizations associated with the Blue Cross Blue Shield system. It remains an active public company, although its subsidiaries and practices have periodically faced regulatory scrutiny, litigation, and criticism concerning policy rescissions, claims administration, provider networks, charitable commitments, pricing, and behavioral-health access.

Elevance Health’s history combines the development of Indiana and California Blue Cross organizations with later consolidation in the American managed-care industry. In Indiana, Mutual Hospital Insurance and Mutual Medical Insurance were established in Indianapolis in 1946. They later became known as Blue Cross of Indiana and Blue Shield of Indiana and entered a joint operating arrangement in 1972. The businesses were reorganized into Associated Insurance Companies in 1985 and subsequently operated through The Associated Group and Anthem Insurance Company. During the late 1980s and 1990s, this lineage expanded through acquisitions of insurers, brokers, and regional Blue Cross and Blue Shield plans, including American General Insurance, Shelby Insurance, Community Mutual, and Blue Cross and Blue Shield organizations in Kentucky, Connecticut, New Hampshire, Colorado, Nevada, and Maine. The Indiana-based organization became a public managed-care company after demutualization and an initial public offering in 2000. Its 2002 acquisition of Trigon Healthcare substantially strengthened its Virginia presence and increased membership. In parallel, Blue Cross of California consolidated its Northern and Southern California organizations in 1982. Its managed-care business was separated into WellPoint Health Networks in 1992–1993, and WellPoint expanded through acquisitions of group health and life businesses, managed-care plans, pharmacy operations, dental and vision companies, and regional Blue Cross licensees. Important transactions included Massachusetts Mutual’s group insurance businesses, John Hancock’s group health and life operations, Rush Prudential, Cerulean and Blue Cross Blue Shield of Georgia, RightChoice Managed Care, Cobalt, Lumenos, and WellChoice in New York. Anthem Insurance Company and WellPoint Health Networks merged in 2004. The resulting company was named WellPoint, Inc., while Anthem remained a major operating brand for Blue Cross and Blue Shield products. The company continued to broaden its capabilities through acquisitions such as Lumenos, American Imaging Management, Resolution Health, DeCare Dental, CareMore, and Amerigroup. Amerigroup, acquired in 2012, increased the company’s exposure to Medicaid and other government-sponsored coverage. Angela Braly resigned as chief executive in 2012 amid investor pressure. WellPoint announced in 2014 that it would adopt the Anthem corporate name. Under Anthem, Inc., the company acquired Simply Healthcare in Florida and pursued a proposed acquisition of Cigna. A federal district court blocked the Cigna transaction in 2017 on antitrust grounds, and the agreement was terminated. Anthem also changed its pharmacy-benefit strategy after announcing that it would not renew its relationship with Express Scripts. It created IngenioRx and arranged a transition involving CVS Health. Gail Boudreaux became chief executive in 2017. Anthem acquired Beacon Health Options in 2020, adding an independently operated behavioral-health organization. In 2021, it announced the acquisition of Puerto Rico-based MMM Holdings and related Medicare Advantage and Medicaid operations, and it announced the acquisition of Integra Managed Care in New York. The Integra transaction closed in 2022. On June 28, 2022, Anthem changed its corporate name to Elevance Health and its ticker from ANTM to ELV. The new identity was intended to reflect a broader combination of insurance and healthcare services. The company subsequently announced an agreement to acquire Blue Cross and Blue Shield of Louisiana and said that its Amerigroup business would be rebranded Wellpoint beginning in 2024. Elevance continues to operate through state-specific insurance brands and national healthcare-services businesses, including Carelon and Carelon Global Solutions. Its history also includes recurring regulatory and legal scrutiny, notably over California policy rescissions, charitable-donation disclosures, claims and network practices, and alleged deficiencies in behavioral-health provider directories.

1. 2023Louisiana expansion announced

   Elevance announced an agreement to acquire Blue Cross and Blue Shield of Louisiana.

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2. 2022Elevance Health identity launched

   Anthem, Inc. became Elevance Health, Inc., and its stock ticker changed from ANTM to ELV.

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3. 2020Beacon Health Options acquired

   Anthem announced the acquisition of behavioral-health company Beacon Health Options.

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4. 2017Cigna transaction blocked and pharmacy strategy changed

   A court blocked the proposed Cigna merger, while Anthem announced a new pharmacy-benefit strategy centered on IngenioRx.

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5. 2014WellPoint announces Anthem name

   The company announced a corporate rebranding to Anthem, Inc.

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6. 2012Amerigroup acquired

   The transaction expanded Medicaid and government-sponsored health-plan operations.

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7. 2004Anthem and WellPoint combine

   The merger created WellPoint, Inc., uniting the principal Indiana and California corporate lineages.

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8. 2002Trigon Healthcare acquired

   The acquisition expanded the company’s Blue Cross and Blue Shield presence in Virginia.

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9. 2000Public-company transition

   Anthem’s predecessor completed demutualization and became publicly traded.

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10. 1982California Blue Cross organizations consolidated

    Blue Cross of Northern California and Blue Cross of Southern California were consolidated into Blue Cross of California.

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11. 1972Blue Cross and Blue Shield of Indiana enter joint operation

    The Indiana medical and hospital insurance organizations adopted a joint operating arrangement.

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12. 1946Indiana insurance predecessors established

    Mutual Hospital Insurance and Mutual Medical Insurance began operations in Indianapolis, forming an important predecessor lineage.

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A large, diversified American health benefits platform combining state-based Blue Cross and Blue Shield insurance operations with government-sponsored coverage and healthcare-services businesses.

• Anthem Blue Cross and Blue ShieldCommercial and government health insurance

  State-specific Blue Cross and Blue Shield plans offered through Elevance affiliates. Depending on the jurisdiction, the portfolio includes employer-sponsored coverage, individual plans, Medicaid products, and Medicare Advantage. The branding and exact benefits vary by state because Blue Cross and Blue Shield operations are licensed and administered locally.

• Medicare AdvantageGovernment-sponsored health insurance

  Privately administered Medicare benefits offered through Elevance subsidiaries and affiliated plans. Products are designed for eligible Medicare beneficiaries and may combine hospital, medical, prescription-drug, supplemental, and care-management benefits depending on the plan and market.

• Medicaid managed careGovernment-sponsored health insurance

  Managed Medicaid plans serving eligible low-income individuals and families through state contracts. Elevance has operated Medicaid businesses under brands including Amerigroup, Wellpoint, Anthem Medicaid, Simply Healthcare, and other state-specific names.

• Carelon Behavioral HealthBehavioral healthcare

  A behavioral-health services business within the Carelon platform. It supports behavioral-health benefit administration, clinical management, provider networks, and related services for health plans, employers, government programs, and members.

• CareMoreCare delivery and management2011

  A healthcare and care-management business acquired by the company that focuses on coordinated services for patients with complex or chronic conditions, including older adults. Its model has included care centers, clinical coordination, and partnerships with providers.

• IngenioRxPharmacy services2017

  A pharmacy-benefit capability developed after Anthem decided not to renew its prior relationship with Express Scripts. The business was intended to support pharmacy-benefit administration and medication-related services for affiliated health plans.

• 2007Uninsured assistance charitable commitment

  United States

  WellPoint announced a commitment through its charitable foundation to spend $30 million over three years on assistance for uninsured people. Later reporting questioned the amount documented publicly, while the company said the commitment had been fulfilled.

  Outcome. The public dispute generated scrutiny of the company’s charitable reporting.

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• 2023Agreement to acquire Blue Cross and Blue Shield of LouisianaM&A

  Elevance sought to expand its geographic footprint and membership through a transaction involving the Louisiana Blue Cross and Blue Shield organization.

  What changed. The company announced a definitive acquisition agreement.

  Aftermath. The announced transaction was expected to add approximately 1.9 million members and extend the company’s presence to Louisiana, subject to approvals.

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• 2022Corporate rebranding to Elevance HealthStrategy

  The company sought an identity broad enough to cover insurance and healthcare-services operations beyond the Anthem brand.

  What changed. Anthem, Inc. changed its corporate name to Elevance Health, Inc. and changed its stock ticker to ELV.

  Aftermath. Anthem remained in use for several affiliated insurance products, while Elevance became the parent corporate identity.

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• 2017Internal pharmacy-benefit platformStrategy

  Anthem said it had been overcharged by Express Scripts and wanted greater control over pharmacy-benefit administration.

  What changed. It announced that it would not renew the Express Scripts relationship, developed IngenioRx, and arranged a five-year contract with CVS Health.

  Aftermath. The decision shifted a major pharmacy-benefit function toward an Anthem-controlled platform and a new external service arrangement.

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• 2015Bid for CignaM&A

  Anthem sought to combine with Cigna in a transaction valued at more than $54 billion in cash and stock.

  What changed. The company pursued the merger, which was later challenged by the United States government.

  Aftermath. A federal district court blocked the transaction in 2017 on competition grounds, and Cigna terminated the agreement.

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• 2025Ghost-network litigationControversy

  Lawsuits in New York and Connecticut reportedly alleged that Carelon Behavioral Health and Anthem-affiliated plans maintained provider directories that appeared to list behavioral-health professionals who were unavailable or inaccessible to members.

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• 2010Breast-cancer cancellation allegationsControversy

  Reuters reported allegations that WellPoint used computer analysis to identify women recently diagnosed with breast cancer for possible policy cancellation. The reporting intensified criticism of rescission practices.

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• 2008Settlement over California rescissionsControversy

  Anthem Blue Cross agreed to a $10 million settlement, reinstatement of 1,770 policies, and compensation for associated medical debts, without formally admitting liability.

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• 2007California policy-rescission investigationControversy

  The California Department of Managed Health Care examined cases in which Anthem policies had been canceled after members developed costly or life-threatening illnesses and concluded that the sampled cancellations were unlawful.

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• 2023Elevance agrees to acquire Blue Cross and Blue Shield of Louisiana

  The proposed transaction was expected to expand Elevance’s presence and add approximately 1.9 million members, subject to applicable approvals.

  M&A
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• 2022Anthem announces corporate rebrand as Elevance Health

  The company changed its corporate name from Anthem, Inc. to Elevance Health, Inc. and changed its stock ticker from ANTM to ELV.

  OtherLeadership change
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• 2017WellPoint ends Express Scripts pharmacy-benefit relationship

  The company said it would replace its pharmacy-benefit arrangement with Express Scripts and develop the IngenioRx platform, while entering a contract with CVS Health.

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1. Elevance Health
2. Elevance Health official website