Elevance Health, Inc. (ELV) recently announced that it will launch a program in which high-quality smartphones will be provided to qualifying individuals enrolled in its Medicaid health plan. Elevance Health disclosed, in the Consumer Electronics Show 2024, that eligible individuals will get unlimited texting, talking and data service for free, enhancing ELV’s offerings.This move bodes well for Elevance Health as it will be able to bridge the gap between people who have access to smartphones and those who d ...

INDIANAPOLIS--(BUSINESS WIRE)--Elevance Health (NYSE: ELV) today announced that it has entered into an agreement to acquire Paragon Healthcare, Inc., a company specializing in life-saving and life-giving infusible and injectable therapies. For more than 20 years, Paragon Healthcare has provided infusion services to patients through its omnichannel model of ambulatory infusion centers, home infusion pharmacies, and other specialty pharmacy services. The company, headquartered in Plano, Texas, provides hig ...

Financial Data and Key Metrics Changes - The company reported third quarter GAAP earnings per share of $5.45, reflecting a strong performance despite a charge taken during the quarter [64] - Adjusted earnings per share was $8.99, showing growth of approximately 20% over the third quarter of 2022 [107] - Operating revenue in the third quarter was $42.5 billion, an increase of 7.2% over the prior year quarter, driven by rate increases and double-digit growth in CarelonRx [123] Business Line Data and Key Metrics Changes - The Health Benefits division delivered robust results, with operating margin improvement of 30 basis points year-over-year [126] - CarelonRx achieved 17.5% revenue growth, propelled by growth in pharmacy customers and the acquisition of BioPlus [126] - The individual membership grew by 27% year-to-date, with ACA membership growth rate more than tripling that of competitors in the 14 Blue states [110] Market Data and Key Metrics Changes - Nearly three-quarters of Medicaid beneficiaries terminated in the company's markets have lost coverage for administrative reasons, with 37% of attrition driven by individuals under 18 [68] - The company expects re-enrollment to accelerate in the coming quarters, anticipating a slowdown in membership attrition associated with redeterminations [69] - The company is seeing encouraging signs in some Blue states, with over 30% of Medicaid members who were terminated returning or retaining coverage [79] Company Strategy and Development Direction - The company is focused on enhancing operating efficiency and optimizing its physical footprint, resulting in a business optimization charge of approximately $700 million [52] - The strategy includes investments in technology and automation to improve service delivery and member experience [85] - The company is committed to delivering whole health solutions that are affordable, personalized, and simple, with a long-term target compound annual growth rate in adjusted earnings per share of 12% to 15% [65] Management's Comments on Operating Environment and Future Outlook - Management expressed disappointment with recent Star quality ratings but remains committed to improving this line of business for the long term [96] - The company anticipates continued momentum in Carelon, driven by new product launches and the ramp-up of BioPlus [97] - Management is confident in the ability to deliver strong growth in adjusted earnings per share in 2024, despite headwinds related to Medicaid membership attrition [119] Other Important Information - The company is on track to launch its advanced home delivery capability in the fourth quarter, enhancing consumer experiences and affordability [115] - The integration of BioPlus is ahead of schedule, with plans to migrate specialty scripts from the legacy pharmacy platform early next year [82] - The company has repurchased approximately 1.1 million shares of common stock for $480 million during the quarter [127] Q&A Session Summary Question: Can you discuss the commercial margin improvement story and underlying cost trends? - Management noted that the team has balanced membership retention and margin improvements, indicating a multiyear journey in the commercial business [4] Question: How is Medicaid disenrollment trending compared to expectations? - Management indicated that Medicaid disenrollment has been front-loaded, with many members returning after temporary disenrollment [8][10] Question: What are the expectations for Medicare Advantage membership growth? - Management stated that it is too early to provide specific guidance but is optimistic about growth based on early responses from brokers [31][162] Question: How is the company addressing the recent decline in Star ratings? - Management acknowledged disappointment in Star ratings and is committed to improving quality measures through value-based care initiatives [102][112] Question: What actions are being taken to mitigate financial impacts for 2025? - Management is exploring contract diversification, operating efficiencies, and capital deployment alternatives to address potential financial impacts [81][137]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-16751 ELEVANCE HEALTH, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpor ...

Elevance Health, Inc. (NYSE:ELV) Q2 2023 Earnings Conference Call July 19, 2023 8:30 AM ET Company Participants Steve Tanal - VP of IR Gail Boudreaux - President and CEO John Gallina - CFO Peter Haytaian - President of Carelon Morgan Kendrick - President of Commercial and Specialty Health Benefits Division Felicia Norwood - President of Government Health Benefits Division Conference Call Participants A.J. Rice - Credit Suisse Lance Wilkes - Bernstein Justin Lake - Wolfe Research Michael Ha - Morgan Stanley ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-16751 ELEVANCE HEALTH, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation ...

Elevance Health, Inc. (NYSE:ELV) Q1 2023 Earnings Conference Call April 19, 2023 8:30 AM ET Company Participants Steve Tanal - Vice President, Investor Relations Gail Boudreaux - President & Chief Executive Officer John Gallina - Chief Financial Officer Peter Haytaian - President of Carelon Morgan Kendrick - President of Commercial & Specialty Health Benefits Division Felicia Norwood - President of Government Health Benefits Division Conference Call Participants Justin Lake - Wolfe Research A.J. Rice - Cred ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-16751 ELEVANCE HEALTH, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporatio ...

Revenue Sources - Approximately 28% of total consolidated revenues were generated from U.S. government agencies for the years ended December 31, 2022, 2021, and 2020[24]. - The company expects a decline in Medicaid membership starting April 1, 2023, due to states removing ineligible beneficiaries from their Medicaid programs[80]. - The Inflation Reduction Act of 2022 extends enhanced Premium Tax Credits through 2025, likely supporting growth in Individual exchange market enrollment[81]. Market Participation and Product Offerings - The company expanded its participation in the Public Exchange market for 2023, offering Individual Public Exchange products in 138 of the 143 rating regions, up from 122 in 2022[33]. - The company is restructuring its reportable segments, combining Commercial & Specialty Business and Government Business into a new segment called Health Benefits starting January 1, 2023[29]. - The company’s Medicare Advantage plans offer tailored benefits to special needs individuals and include a variety of options for individuals aged 65 and older[39]. - CarelonRx, the company's PBM subsidiary, provides comprehensive PBM services, including formulary management and pharmacy networks, to both affiliated and external customers[41]. - Carelon Services offers a wide range of healthcare services, including integrated care delivery and behavioral health management[43]. Customer Engagement and Service Quality - The company focuses on enhancing customer interactions through digital technology and operational improvements, optimizing administrative costs while improving service quality[23]. - The company has expanded its integrated care management programs, including the digital engagement platform Sydney Health, to enhance member experience[66]. - CarelonRx's behavioral health case management program supports members with various conditions, promoting access to appropriate treatment[67]. - The company is recognized for its quality healthcare initiatives, focusing on effective, safe, and equitable care[68]. Financial Performance and Cash Management - Net cash provided by operating activities for the year ended December 31, 2022, was $8,399 million, a slight increase of $35 million compared to $8,364 million in 2021[356]. - Total sources of cash decreased by $1,081 million from $11,286 million in 2021 to $10,205 million in 2022[356]. - Total uses of cash decreased by $4,453 million from $12,137 million in 2021 to $7,684 million in 2022[356]. - The net increase in cash and cash equivalents for 2022 was $2,507 million, compared to a decrease of $861 million in 2021[356]. - Cash dividends paid in 2022 amounted to $1,229 million, an increase of $125 million from $1,104 million in 2021[356]. - The company aims to manage its cash, investments, and capital structure to meet both short-term and long-term obligations while maintaining financial flexibility[353]. Regulatory Compliance and Risk Management - The company is subject to comprehensive state, federal, and international regulations that impact its operations and cost structure[75]. - Federal regulations require the company to disclose detailed pricing information on a monthly basis starting July 2022, with further requirements expanding in 2023[100]. - The company is subject to various federal and state regulations that could materially affect its PBM business, including proposals to regulate drug rebates and pricing[92]. - The company is required to pay an annual license fee to the BCBSA based on enrollment and must comply with various operational requirements[73]. Workforce and Diversity - The company has a workforce of approximately 102,300 employees as of December 31, 2022, with 79,000 in the United States and 23,300 internationally[105]. - The U.S. associate population is approximately 77% female and 51% racially and ethnically diverse as of December 31, 2022[106]. - The company has been certified by the Fair Pay Workplace, indicating that pay for females is within 1% of their male counterparts[107]. - The company is actively monitoring and responding to associate feedback through engagement surveys and online tools[105]. Strategic Initiatives and Future Outlook - The company promotes appropriate care through its AIM Specialty Health subsidiary, focusing on areas like imaging and oncology drugs[69]. - The company anticipates growth in its Commercial risk-based and fee-based plans and Medicare as members exit Medicaid[80]. - The company has developed in-home assessment programs to identify healthcare quality gaps among its members[70]. - CarelonRx's pricing strategy is based on predictive modeling and aims to remain competitive while addressing anticipated medical trends[47]. - The company employs a multi-year contracting strategy with providers to limit exposure to medical cost inflation and enhance cost predictability[57].

Financial Data and Key Metrics Changes - Elevance Health reported fourth quarter adjusted earnings per share of $5.23, exceeding expectations, leading to a full-year adjusted earnings per share of $29.7, reflecting over 15% year-over-year growth from an adjusted baseline of $25.20 in 2021 [10][23][34] - Total operating revenue for the year reached nearly $156 billion, an increase of approximately 14% over the prior year, driven by solid growth in health benefits businesses and Carelon [12][36] - The SG&A expense ratio improved to 11.5% in the fourth quarter and 11.4% for the full year, reflecting a 20 basis points improvement [1][43] Business Line Data and Key Metrics Changes - Medical membership grew by 248,000 members in the fourth quarter, totaling 47.5 million members by year-end, with organic growth comprising over 85% of the increase [11][35] - Carelon's revenue grew by 12% and Carelon services by 27% over 2021, contributing to the overall revenue growth [13][36] - The company added 1.1 million net new commercial members and 1.1 million net new government members for the full year [12][35] Market Data and Key Metrics Changes - The company anticipates growth in medical membership despite commercial repricing and Medicaid redeterminations, with commercial risk-based membership expected to increase by over 200,000 in 2023 [31][32] - Medicaid membership is projected to end the year in the range of 10.8 million to 11.3 million, reflecting anticipated attrition due to eligibility redeterminations [33][42] Company Strategy and Development Direction - Elevance Health is transforming into a lifetime trusted health partner, focusing on optimizing health benefits businesses and expanding Carelon's service capabilities [22][50] - The company plans to disclose Carelon as a separate business division starting in Q1 2023, reflecting its commitment to expanding the scale and scope of services [15][37] - The strategic acquisition of Blue Cross and Blue Shield of Louisiana is expected to enhance community impact and align with Elevance's mission [70][72] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in margin recovery for commercial and Medicare businesses, which is expected to offset member attrition in the Medicaid business [8][30] - The outlook for 2023 includes anticipated growth in adjusted earnings per share of greater than $32.60, reflecting over 12% year-over-year growth [38][44] - Management acknowledged ongoing uncertainties related to Medicaid redeterminations and macroeconomic conditions but remains optimistic about the company's resilience [9][33] Other Important Information - The consolidated medical loss ratio is expected to be 87.2% in 2023, an improvement of approximately 20 basis points compared to 2022 [42] - The company plans to repurchase approximately $2 billion in shares and has approved a 16% increase in its quarterly dividend [49][45] Q&A Session Summary Question: Can you talk about the growth in the services business and partnerships? - Management highlighted the strong momentum in Carelon and the focus on whole health and improving patient experience through partnerships [55][60] Question: Can you provide insights on the Blue Cross Blue Shield of Louisiana acquisition? - Management expressed excitement about the strategic acquisition, emphasizing alignment with Elevance's mission and community impact [70][72] Question: What are the expectations for commercial and Medicaid margins? - Management confirmed ongoing margin recovery in commercial and Medicare segments, with Medicaid margins expected to remain within the 2% to 4% range [82][84] Question: What are the trends in value-based care? - Management noted increased interest in sharing both upside and downside risk in value-based care arrangements, with a focus on timely data sharing [131][132]