• [20] In 2001, In October, Anthem underwent demutualization and became a public company via an initial public offering, which made it the fourth largest public managed health
  care company in the United States.

• [6] Formerly: Anthem, Inc. (2014–2022); Type: Public company; Traded as: NYSE: ELV, S&P 500 component; Industry: Managed healthcare, Insurance; Founded: 2004; 19 years ago
  from Anthem and WellPoint Health Networks merger; Headquarters: Indianapolis, Indiana, U.S.; Key people: Elizabeth E. Tallett (Chairman), Gail Koziara Boudreaux (President & CEO); Products: Healthcare services, Health insurance; Revenue: US$156.6
  billion (2022); Operating income: US$7.77 billion (2022); Net income: US$6.03 billion (2022); Total assets: US$102.8 billion (2022); Total equity: US$36.31 billion (2022); Number of employees: 102,300 (2022); Subsidiaries: Anthem Blue Cross
  and Blue Shield Affiliated Health Plans, Wellpoint, Carelon, Amerigroup, UniCare History Anthem[edit] In 1946, Anthem began in Indianapolis, Indiana, as Mutual Hospital Insurance Inc. and Mutual Medical Insurance Inc.

• [27] In April 1996, WellPoint completed its acquisition of Massachusetts Mutual Life Insurance Company’s group life and health insurance subsidiaries for approximately $380
  million, making it the second largest publicly held managed health company in the U.S. with 4 million policyholders.

• [71][72] In July 2008, Anthem Blue Cross agreed to a settlement with the California Department of Managed Health Care; however in doing so, WellPoint did not officially admit
  liability.

• [24] In January 1993, Blue Cross of California spun off its managed care business into a publicly traded entity, WellPoint Health Networks Inc. Blue Cross of California retained
  an 80% interest and voting control.

• [64] The acquisition of the New York-based international health insurance company was completed on May 5, 2022.

• Prior to June 2022, Elevance Health was named Anthem, Inc.[2] The company’s services include medical, pharmaceutical, dental, behavioral health, long-term care, and disability
  plans through affiliated companies such as Anthem Blue Cross and Blue Shield, Empire BlueCross BlueShield in New York State, Anthem Blue Cross in California,[3] Wellpoint, and Carelon.

• As of 2022, the company had 46.8 million members within its affiliated companies’ health plans.

• [13] In 1994, it sold Raffensperger, Hughes & Co., Inc., Indiana’s largest investment bank, to National City Corp.[14] In 1995, The Associated Group acquired Community Mutual
  Insurance, a provider of Blue Cross and Blue Shield insurance plans in Ohio with over 1.9 million policy holders), then set up Anthem Blue Cross and Blue Shield.

• [57] In October 2017, Anthem announced that it would not renew its pharmacy benefit management (PBM) relationship with Express Scripts saying it had been overcharged $3 billion
  and that instead, Anthem would eventually handle the PBM process itself through its new IngenioRx unit.

• [82] Anthem Blue Cross gained worldwide media attention and became a poster child for the problem of rising cost of health care in the U.S.[82] The rate increase came one
  year after Anthem had raised rates 68% on individual policy holders.

• [28] In March 1997, WellPoint acquired the group health and life businesses of John Hancock Financial for $86.7 million.

• [81] Controversial rate increases in California and the resulting investigation and public outrage[edit] In February 2010, WellPoint announced that rates would increase on
  some Anthem Blue Cross individual policies in California by as high as 39%.

• [61] In March 2020, Anthem announced the acquisition of Beacon Health Options, and independently held behavioral health organization.

• [52] In February 2015, the company acquired Simply Healthcare Holdings, a Medicaid and Medicare managed care company based in Florida.

• [79] Since Maine licenses insurance companies through its Department of Insurance, Anthem needed the state’s permission to raise rates.

• [76] Opposition to healthcare reform[edit] In August 2009, Anthem, the largest for-profit insurer in California, contacted its employees and urged them to get involved to
  oppose healthcare reforms proposed during the Obama administration.

• [8] In 1985, The two companies merged into Associated Insurance Companies, Inc,, later called, The Associated Group, a holding company, but usage of the name “Anthem” persisted.

• [4] It is the largest for-profit managed health care company in the Blue Cross Blue Shield Association.

• [87] Denial of benefits for cancer treatment despite payment of premiums and resulting public outcry[edit] In May 2014, Anthem Blue Cross refused to pay for the hospitalization
  of a Sonoma County, California man for stage four cancers, although he had paid Anthem over $100,000 in premiums.

• The company said that the foundation had indeed fulfilled its $30-million commitment by mid-2009, but refused to provide any financial details to support its claim.

• [63] In November 2021, Anthem announced the acquisition of Integra Managed Care in New York.

• [95] In June 2017, Anthem agreed to spend $115M to settle allegations that it failed to adequately protect the data of its clients, the sum was to be spent on two years of
  services to protect victims from identity theft.

• [77] Through 2010 and into 2011, WellPoint senior executives met monthly with executives of other major health insurers to blunt the effect of the Patient Protection and Affordable
  Care Act.

• Anthem Insurance Company reached 11.9 million members.

• [80] The Court disagreed with Anthem and found that, unlike with other forms of insurance, the Maine Insurance Code does not require the Superintendent to consider profits.

• Anthem announced that it would enter a 5-year contract with CVS Health.

• In March 2010, the Los Angeles Times reported that WellPoint’s tax records and website showed that the company had given only $6.2 million by 2009.

• [78] Legal battle over premium increases in Maine[edit] In 2009, Anthem Health Plans of Maine, a WellPoint subsidiary, sued the state of Maine for the right to increase premiums
  further.

• [101] Neglecting complaints[edit] In 2017, the California Department of Managed Health Care fined the company $5 million for untimely response to consumer complaints.

• [66] Quality of care In 2011, in the category of “Meeting National Standards of Care,” California’s state patient advocacy office gave Anthem a rating of 2 out of 4 stars.

• [42] WellPoint also acquired Chicago-based American Imaging Management (AIM), the leading radiology benefit management company.

• [15][16] In 1996, The Associated Group changed its name to Anthem Insurance Company.

• [104] 2019 lawsuit: Sovereign Health vs. Anthem for coercive direct payments and financial pressure on vulnerable patients[edit] In 2019, Sovereign Health pressed charges
  against Anthem, alleging that it was using direct payments to compel them to join Anthem’s network under unfavorable terms.

• With this acquisition, WellPoint expanded its presence into Michigan, Texas, and the mid-Atlantic, and gained a unit that concentrated on serving the needs of large employers.

• [23] In 1992, WellPoint was formed to operate Blue Cross of California’s managed care business.

• The company also agreed to provide compensation for any medical debts incurred by these policy-holders.

• [34] In 2002, WellPoint acquired RightChoice Managed Care, a Missouri-based company, for $1.5 billion.

• Gen. Jerry Brown to investigate its claim that WellPoint had illegally pushed workers to write to their elected officials, attend town hall meetings and enlist family and
  friends to ensure an overhaul that would match the firm’s interests.

• In December, WellPoint acquired WellChoice, a New York City-based Blue Cross Blue Shield provider, for approximately $6.5 billion,[41] making New York the 14th state in which
  WellPoint is a Blue Cross Blue Shield licensee.

• [32] In March 2001, WellPoint acquired Rush Prudential Health Plans, a Chicago provider, for $204 million.

• [62] On February 2, 2021, Anthem announced the acquisition of InnovaCare Health’s Puerto Rico subsidiaries including MMM Holdings, LLC (“MMM”) and its Medicare Advantage (MA)
  plan MMM Healthcare, LLC as well as affiliated companies and Medicaid plan.

• [12] The Associated Group bought Southeastern Mutual Insurance Company, the operator of Blue Cross and Blue Shield of Kentucky.

 

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Photo credit: https://www.flickr.com/photos/chiemseehotel/15186434972/’]