elevance health, inc.


  • [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

  • [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

  • [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.


Works Cited

[‘”Elevance Health, Inc. 2022 Annual Report (Form 10-K)”. U.S. Securities and Exchange Commission. February 15, 2023.
2. ^ “Form 8-K for Anthem Inc filed 05/18/2022”. U.S. Securities and Exchange Commission. May 18, 2022. Retrieved June 28, 2022.
3. ^
“Anthem Health Plans”. Anthem Insurance Companies, Inc. Retrieved June 28, 2022.
4. ^ “Anthem (ANTM) Unveils Two Brands to Boost Whole Person Health”. zacks.com. June 16, 2022. Retrieved June 28, 2022.
5. ^ “Anthem (ANTM) Q1 2022 Earnings Call
Transcript”. fool.com. April 20, 2022. Retrieved June 28, 2022.
6. ^ “Fortune 500”. Fortune.com. Retrieved June 24, 2022.
7. ^ Jump up to:a b Brennan, Gerald; David E. Salamie (2009). Jay P. Pederson (ed.). “WellPoint, Inc”. Vol. 103. International
Directory of Company Histories. pp. 505–514.
8. ^ BLUE CROSS BLUE SHIELD ANTITRUST LITIGATION (MDL No. 2406). Case has many plaintiffs and defendants, Case 2:12-cv-02532-RDP Document 263 Master File No. 2:13-CV-20000-RDP, 183-185 (U.S. DISTRICT
10. ^ Andrews, Greg (July 24, 2015). “FROM THE ARCHIVES: Anthem’s path from laggard to leader”. American City Business Journals.
11. ^ Sekhri, Rajiv (February 17, 1997). “Acordia/Rauh
placed on auction block for third time”. American City Business Journals.
12. ^ “Company news; kemper insurance unit to be sold for $100 million”. The New York Times. Bloomberg News. November 24, 1993.
13. ^ “Indiana, Kentucky ‘Blues’ to merge”.
United Press International. March 26, 1993.
14. ^ “National City Acquisition”. The New York Times. Reuters. December 8, 1994.
15. ^ Curtis, Richard (November 9, 1998). “Anthem looking at mergers”. American City Business Journals.
16. ^ Jump
up to:a b FEDER, BARNABY J. (May 30, 1996). “Anthem’s Strategy: Bigger the Better”. The New York Times.
17. ^ LEVICK, DIANE (August 2, 1997). “BLUE CROSS, ANTHEM MERGE”. Hartford Courant.
FIRM”. The New York Times. Dow Jones & Company. August 5, 1997.
19. ^ “COMPANY NEWS; ANTHEM AGREES TO BUY BLUE CROSS OF NEW HAMPSHIRE”. The New York Times. Associated Press. January 29, 1999.
20. ^ “Anthem to acquire Blue Cross and Blue Shield
of Maine”. American City Business Journals. July 13, 1999.
21. ^ Gordon, Jennifer (November 5, 2001). “Anthem’s IPO well received; stock trades heavily”. American City Business Journals.
22. ^ Clabaugh, Jeff (November 4, 2002). “Trigon acquisition
benefits Anthem”. American City Business Journals.
23. ^ SHIVER Jr., JUBE (September 9, 1985). “Merger Has Led to Strife at Blue Cross”. Los Angeles Times.
24. ^ Sidel, Robin; Rundle, Rhonda (October 27, 2003). “Anthem to Acquire WellPoint Health”.
The Wall Street Journal.
25. ^ “WellPoint Health Network Inc”. Anthem.
26. ^ “WellPoint goes public, investors positive”. United Press International. January 28, 1993.
27. ^ Terhune, Chad (March 18, 2015). “With billions in the bank, Blue Shield
of California loses its state tax-exempt status”. Los Angeles Times.
28. ^ “MASSMUTUAL TO SELL GROUP LIFE, HEALTH UNIT”. Hartford Courant. January 10, 1996.
29. ^ OLMOS, DAVID R. (October 11, 1996). “WellPoint Buys Unit of John Hancock”. Los Angeles
30. ^ Murphy, Barbara (March 14, 2000). “WellPoint to Acquire Pharmaceutical Facility”. Los Angeles Times.
31. ^ Graham, Scott (November 21, 2001). “WellPoint to acquire CareFirst BlueCross BlueShield”. American City Business Journals.
32. ^
Page, Leigh (March 6, 2003). “Maryland insurance commissioner rejects WellPoint acquisition of CareFirst”. Modern Healthcare.
33. ^ MURPHY, BARBARA (March 14, 2000). “WellPoint Health Acquires Rush Presidential Health”. Los Angeles Times.
34. ^
“WellPoint set to buy Cerulean by March 31”. American City Business Journals. January 3, 2001.
35. ^ Desloge, Rick (December 23, 2001). “RightChoice Managed Care Inc. acquired by L.A.-based WellPoint”. American City Business Journals.
36. ^ KREIMER,
SUSAN (January 25, 2002). “WellPoint to acquire MethodistCare”. Houston Chronicle.
37. ^ “WellPoint Completes Acquisition of Golden West Dental & Vision; Strengthens Commitment to Growth in the Dental Arena” (Press release). Business Wire. June
30, 2003.
38. ^ “WellPoint, Anthem complete merger”. American City Business Journals. December 1, 2004.
39. ^ “Anthem, Wellpoint complete $16.5 billion merger”. NBC News. Associated Press. December 1, 2004.
40. ^ “WellPoint Acquires Health Plan
Provider”. Best’s Insurance News. June 10, 2005.
41. ^ Richard, Christine; Sullivan, Tom (January 7, 2006). “Corporate Debt Offerings Boom As Buybacks, Deals Are Planned”. The Wall Street Journal.
42. ^ “WellPoint Completes Acquisition of American
Imaging Management” (Press release). Thomas Register. August 9, 2007.
43. ^ “President of WellPoint’s Anthem Blue in California Leaves Post”. Insurance Journal. July 21, 2010.
44. ^ DerGurahian, Jean (April 17, 2008). “WellPoint purchases data
firm Resolution Health”. Modern Healthcare.
45. ^ Newmarker, Chris (April 22, 2009). “WellPoint completes DeCare Dental acquisition”. American City Business Journals.
46. ^ Main, Tom; Slywotzky, Adrian (October 3, 2011). “The Quiet Health-Care
Revolution”. The Atlantic.
47. ^ Mathews, Anna Wilde; Kamp, Jon (July 9, 2012). “WellPoint’s Medicaid Bet”. The Wall Street Journal.
48. ^ Caldwell, Carla (December 25, 2012). “WellPoint, Inc. acquires Amerigroup Corp”. American City Business
49. ^ Roy, Avik (July 11, 2012). “WellPoint Buys Amerigroup, Bets Big on Medicaid Expansion: But Will States and Voters Cooperate?”. Forbes.
50. ^ ROBEZNIEKS, ANDIS (August 28, 2012). “Angela Braly resigns as president and CEO of WellPoint”.
Modern Healthcare.
51. ^ Terhune, Chad (August 28, 2012). “WellPoint CEO Angela Braly quits, bowing to investor pressure”. Los Angeles Times.
52. ^ Matthews, Anna Wilde (August 12, 2014). “WellPoint Changes Its Name to Anthem”. The Wall Street
53. ^ “Anthem, Inc. Completes Acquisition of Simply Healthcare Holdings, Inc” (Press release). Business Wire. February 18, 2015.
54. ^ Cane, Jeffrey; Abelson, Reed (June 20, 2015). “Anthem Makes $47 Billion Offer for Rival Cigna”. The
New York Times.
55. ^ Banerjee, Ankur; Pierson, Ransdell (July 24, 2015). “Anthem to buy Cigna to create biggest U.S. health insurer”. Reuters.
56. ^ Wilde Mathews, Anna; Kendall, Brent (February 9, 2017). “Federal Judge Blocks Anthem’s Planned
Acquisition of Cigna”. The Wall Street Journal.
57. ^ Wilde Mathews, Anna; Kendall, Brent (February 14, 2017). “Antitrust Rulings Put Chill on Health-Insurance Mergers”. The Wall Street Journal.
58. ^ Flanagan, Cristin; Rausch, Natasha (October
18, 2017). “Anthem Breaks With Express Scripts, Will Start Own Drug Plan”. Bloomberg News.
59. ^ Thomas, Katie; Abelson, Reed; Bray, Chad (March 8, 2018). “Cigna to Buy Express Scripts in $52 Billion Health Care Deal”. The New York Times.
60. ^
“Anthem names industry veteran Gail Boudreaux as new CEO”. CNBC. Reuters. November 6, 2017.
61. ^ Ryckaert, Vic (May 22, 2018). “Anthem is not only staying but expanding in Downtown Indianapolis”. USA Today.
62. ^ “Anthem, Inc. Completes Acquisition
of Beacon Health Options”. www.businesswire.com. March 2, 2020. Retrieved March 3, 2020.
63. ^ “Anthem To Buy Puerto Rico Medicare And Medicaid Plans”. Forbes.com. February 2, 2021. Retrieved February 2, 2020.
64. ^ “Anthem plans to buy Integra
Managed Care in New York”. healthcaredive.com. Retrieved December 5, 2021.
65. ^ “Anthem, Inc. Completes Acquisition of Integra Managed Care”. Yahoo Finance. May 5, 2022. Retrieved May 5, 2022.
66. ^ “FAQ Anthem Inc. to Elevance Health”. ElevanceHealth.com.
June 28, 2022. Retrieved June 28, 2022.
67. ^ “About the Medical Group Ratings”. Government of California.
68. ^ Terhune, Chad (January 28, 2014). “Report criticizes California health plans for treatment of chronic ailments”. Los Angeles Times.
69. ^
Jay Asser (November 30, 2022). “Elevance Health Medicaid Plans Earn NCQA Health Equity Accreditation”. HealthLeaders. Retrieved March 2, 2023.
70. ^ Levey, Noam (March 18, 2010). “WellPoint’s giving for uninsured falls short, records show”. Los
Angeles Times.
71. ^ Waas, Murray (March 18, 2010). “Insurer targeted HIV patients to drop coverage”. Reuters.
72. ^ “WellPoint Routinely Targets Breast Cancer Patients”. Common Dreams. April 24, 2000.
73. ^ “Health insurers to pay state regulators”.
East Bay Times. Associated Press. July 17, 2008.
74. ^ Waas, Murray (April 23, 2010). “WellPoint routinely targets breast cancer patients”. Reuters.
75. ^ NOAH, TIMOTHY (May 10, 2010). “How WellPoint’s bad behavior advances health care reform”.
76. ^ Lazarus, David (September 20, 2011). “Using plastic to pay Anthem bill? Prepare to lose your coverage”. Los Angeles Times.
77. ^ Williams, Carol J. (September 3, 2009). “2 giant health insurers accused of illegal steps to thwart change”.
Los Angeles Times.
78. ^ Armstrong, Drew (January 31, 2011). “UnitedHealth Joins WellPoint to hone Health Law Lobby”. Bloomberg News.
79. ^ “WellPoint Sues Maine To Raise Premiums 18.5% – MyFDL”. firedoglake.com.
80. ^ Delaney, Arthur (October
5, 2009). “WellPoint Subsidiary Fights Maine Over Big Rate Hike (VIDEO)”. HuffPost.
81. ^ “Summary of Key Points of Anthem Health Plans of Maine, Inc. v. Superintendent of Insurance, Maine Attorney General, and Consumers for Affordable Health Care”
82. ^ Jump up to:a b c Colliver, Victoria (February 6, 2010). “Anthem blue cross raises premiums”. San Francisco Chronicle.
83. ^ Sack, Kevin (February 16, 2010). “In California, Exhibit A in Debate on Insurance”. The New York Times.
84. ^
“Anthem to delay insurance rate hike amid criticism”. Newsday. Associated Press. February 14, 2010.
85. ^ ZAPLER, MIKE (February 19, 2010). “Feinstein takes on anthem blue cross”. San Jose Mercury News.
86. ^ Volsky, Igor (March 31, 2010). “WellPoint
Reclassifies Costs As ‘Medical Care’ To Meet Reform’s Medical Loss Ratio Requirement”. Think Progress.
87. ^ Perkes, Courtney (October 23, 2010). “Personal data accessed on insurer Web site”. Orange County Register.
88. ^ Borba, Andria (May
28, 2014). “Sonoma County Man Battling Cancer Denied Coverage By Anthem Blue Cross After Paying $100K In Premiums”. KPIX-TV. includes video and transcript of coverage.
89. ^ “Unbelievable”. tumblr.com. May 18, 2014.
90. ^ “Anthem Blue Cross To
Cover Sonoma County Cancer Patient After KPIX 5 Report”. cbslocal.com.
91. ^ “Data Breach at Health Insurer Anthem Could Impact Millions”. Brian Krebs. February 4, 2015.
92. ^ Pepitone, Julianne (February 5, 2015). “Anthem Hack: Credit Monitoring
Won’t Catch Medical Identity Theft”. NBC News.
93. ^ Riley, Michael A. (February 5, 2015). “Chinese State-Sponsored Hackers Suspected in Anthem Attack”. Bloomberg News.
94. ^ Abelson, Reed; Goldstein, Matthew (February 5, 2015). “Anthem Hacking
Points to Security Vulnerability of Health Care Industry”. The New York Times.
95. ^ Weise, Elizabeth (February 4, 2015). “Massive breach at health care company Anthem Inc”. USA Today.
96. ^ “Anthem to pay record $115 million to settle U.S. lawsuits
over data breach”. Reuters. June 23, 2017. Retrieved February 23, 2022.
97. ^ GELLER, ERIC (May 9, 2019). “Chinese nationals charged for Anthem hack, ‘one of the worst data breaches in history'”. Politico.
98. ^ MILLER, MAGGIE (May 9, 2019).
“Chinese nationals indicted for Anthem data breach, other cyber intrusions into U.S. companies”. The Hill.
99. ^ Perlroth, Nicole (May 9, 2019). “Two From China Are Charged in 2014 Anthem Data Breach”. The New York Times.
100. ^ Jump up to:a b
Raphelson, Samantha (May 23, 2018). “Anthem Policy Discouraging ‘Avoidable’ Emergency Room Visits Faces Criticism”. NPR. Retrieved February 23, 2022.
101. ^ Jump up to:a b “Column: Anthem’s effort to punish patients for ‘unnecessary’ ER visits
has been a bust–but still burdens patients”. Los Angeles Times. November 8, 2018. Retrieved February 23, 2022.
102. ^ Raven, M.; Lowe, R. A.; Maselli, J.; Hsia, R. Y. (March 20, 2014). “Comparison of presenting complaint vs. discharge diagnosis
for identifying “non-emergency” emergency department visits”. Journal of the American Medical Association. 309 (11): 1145–1153. doi:10.1001/jama.2013.1948. PMC 3711676. PMID 23512061.
103. ^ OSTROV, BARBARA FEDER (January 30, 2019). “Patients Suffer
As Insurers And Big Health Systems Spar For Market Share”. NPR.
104. ^ ANDERSON, CATHIE (June 7, 2019). “Anthem to pay ‘very large fine,’ correct how it handles California patients’ complaints”. The Sacramento Bee. ISSN 0890-5738.
105. ^ Wayne
Drash (March 2019). “Insurer skips doctors and sends massive checks to patients, prompting million-dollar lawsuit”. CNN. Retrieved February 23, 2022.
106. ^ Reuter, Elise (March 28, 2020). “Justice Department accuses Anthem of Medicare fraud”. MedCity
News. Retrieved February 23, 2022.
107. ^ “NYC selects Anthem for retirees’ coverage — after feds sue over alleged Medicare fraud”. nypost.com. February 14, 2022. Retrieved March 10, 2022.
108. ^ “Anthem Revenue 2006-2018 | ANTM”. www.macrotrends.net.
Retrieved October 31, 2018.
109. ^ “Anthem’s 2018 Annual Report” (PDF). annualreports.com. Retrieved March 10, 2022.
110. ^ “Form 10-K Anthem, Inc” (PDF). annualreports.com. Retrieved March 10, 2022.
111. ^ “Financial Highlights”. antheminc.com.
Retrieved March 10, 2022.
112. ^ “Anthem, Inc. 2021 Annual Report (Form 10-K)”. U.S. Securities and Exchange Commission. February 16, 2022.
113. ^ Jakob Emerson (December 19, 2022). “4 payers named corporate sustainability leaders, per S&P Dow
Jones”. Becker’s Payer Issues. Retrieved March 2, 2023.
114. ^ “100 Best Companies to Work For Elevance Health”. Forbes. Retrieved March 2, 2023.
115. ^ “21 payers named best places to work for LGBTQ+ equality”. Becker’s Payer Issues. October
26, 2022. Retrieved March 2, 2023.
Photo credit: https://www.flickr.com/photos/chiemseehotel/15186434972/’]