Forbes July 29, 2020
Health insurer Anthem’s profits doubled to $2.3 billion in the second quarter as elective procedures the large health insurer pays for were postponed or delayed amid the spread of the Coronavirus strain Covid-19.
Anthem, which operates Blue Cross and Blue Shield plans in 14 states, Wednesday said net income doubled to nearly $2.3 billion in the second quarter ended June 30 compared to $1.1 billion in the year ago quarter. Revenues rose 15% to $29 billion, the company said in its earnings report.
Anthem, which provides health benefits to more than 42 million people in the U.S., attributed the increase in operating income gains to “reduced healthcare benefit utilization during the Covid-19 pandemic.” Those gains were in both its commercial...
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