Anthem, Inc. (ANTM) Q2 2021 Earnings Conference Call July 21, 2021 8:30 AM ET Company Participants Stephen Tanal - Vice President of Investor Relations Gail Boudreaux - President and Chief Executive Officer John Gallina - Executive Vice President and Chief Financial Officer Felicia Norwood - Executive Vice President and President, Government Business Division Peter Haytaian - Executive Vice President and President, Commercial and Specialty Business Division Jeff Alter - Executive Vice President IngenioRx a ...

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, 2021 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 ANTHEM, INC. (Exact name of registrant as specified in its charter) Indiana 35-2145715 (State or other jurisdiction of inc ...

Financial Data and Key Metrics Changes - Anthem reported Q1 2021 GAAP earnings per share of $6.71 and adjusted earnings per share of $7.01, reflecting over 8% year-over-year growth [6][28] - Operating revenue for Q1 2021 was $32.1 billion, a 9% increase year-over-year, or approximately 11% when excluding the impact of the permanent repeal of the health insurer fee [32] - Medical loss ratio for Q1 2021 was 85.6%, an increase of 140 basis points year-over-year, driven by COVID-19 related costs [32][34] - The company ended the quarter with a debt to capital ratio of 41.6%, up from 38.7% at year-end 2020 [36] Business Line Data and Key Metrics Changes - Medical membership totaled 43.5 million members, an increase of 1.4 million lives or 3.3% year-over-year [29] - Medicaid membership growth was robust, aided by the suspension of re-verifications, while Medicare Advantage membership grew by 197,000 lives or 15% year-over-year [11][30] - Commercial enrollment grew sequentially, with strong performance in the risk-based business, although year-over-year membership decreased slightly due to in-group attrition [13][30] Market Data and Key Metrics Changes - Anthem's digital solutions engaged close to 10 million people, with a focus on improving health outcomes and addressing health disparities [15][16] - The launch of the high-performance network in partnership with the Blue Cross and Blue Shield Association is expected to generate average savings of 11% to 20% in certain markets [20][59] Company Strategy and Development Direction - Anthem is focused on leveraging technology to enhance consumer experiences and improve health outcomes, with a commitment to digital-first initiatives [15][19] - The company aims to drive commercial medical cost trends down towards CPI by 2025, emphasizing value-based arrangements with care providers [19] - Anthem's acquisition strategy includes partnerships with companies like MyNEXUS to enhance home-based healthcare management [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver on commitments despite uncertainties related to the pandemic, including potential new COVID variants and pent-up demand for healthcare services [27][41] - The updated guidance reflects a cautious but optimistic outlook, with expectations for adjusted earnings per share to exceed $25.10 for the year [40][43] Other Important Information - Anthem's operating cash flow for Q1 was $2.5 billion, indicating strong quality of earnings [39] - The company repurchased 1.4 million shares at a weighted average price of $316.06, representing over 25% of its full-year guidance [37] Q&A Session Summary Question: Impact of reserves and membership growth due to Biden administration changes - Management clarified that the $1.5 billion prior period development number is on a gross basis and does not significantly impact the income statement [46] - They expect solid membership growth in individual exchanges but do not foresee significant Medicaid growth from the commercial market at this stage [48][50] Question: Utilization management program and hospital pushback - Management emphasized a focus on value-based care and working with hospital providers to ensure appropriate care settings [53][55] Question: High-performance network and care utilization patterns - The high-performance network launched in January 2021 is expected to generate significant cost savings, with a focus on leveraging provider relationships [58][59] Question: Capital deployment priorities and value-based care initiatives - Anthem plans to allocate approximately 50% of free cash flow for reinvestment, with a focus on partnerships and acquisitions in the value-based care space [63][66] Question: Medicaid business performance and future expectations - Management expressed confidence in Medicaid's performance and expects to end 2021 within target margin ranges, despite some challenges in the Medicare business [79][82]

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 Title of each class Trading symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value ANTM New York Stock Exchange For the Quarterly Period Ended March 31, 2021 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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 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 ANTHEM, INC. (Exact name of registrant as specified in its charter) Indiana 35-2145715 (State or other jurisdiction of incorpo ...

Anthem, Inc. (ANTM) Q4 2020 Earnings Conference Call January 27, 2021 8:30 AM ET Company Participants Chris Rigg – Vice President-Investor Relations Gail Boudreaux – President and Chief Executive Officer John Gallina – Chief Financial Officer Pete Haytaian – President-Commercial and Specialty Business Division Felicia Norwood – President-Government Business Division Conference Call Participants Justin Lake – Wolfe Research A.J. Rice – Credit Suisse Steven Valiquette – Barclays Ricky Goldwasser – Morgan Stan ...

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 Title of each class Trading symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value ANTM New York Stock Exchange For the Quarterly Period Ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission f ...

Anthem, Inc. (ANTM) Q3 2020 Earnings Conference Call October 28, 2020 8:30 AM ET Company Participants Chris Rigg - Vice President, Investor Relations Gail Boudreaux - President and Chief Executive Officer John Gallina - Chief Financial Officer Felicia Norwood - President of Government Business Division Pete Haytaian - President of Commercial and Specialty Business Division Conference Call Participants Stephen Valiquette - Barclays A.J. Rice - Credit Suisse Justin Lake - Wolfe Research Ricky Goldwasser - Mor ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) Title of each class Trading symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value ANTM New York Stock Exchange ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2020 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 n ...

Anthem, Inc. (ANTM) Q2 2020 Earnings Conference Call July 29, 2020 8:30 AM ET Company Participants Chris Rigg - Vice President, Investor Relations Gail Boudreaux - President and Chief Executive Officer John Gallina - Chief Financial Officer Felicia Norwood - President of Government Business Division Pete Haytaian - President of Commercial and Specialty Business Division Conference Call Participants Ricky Goldwasser - Morgan Stanley Justin Lake - Wolf Research Stephen Tanal - SVB Leerink A.J. Rice - Credit ...