Forbes April 29, 2020
Health insurer Anthem is increasing membership thanks to seniors signing up to Medicare Advantage while benefitting financially from the launch of its own pharmacy benefit management company, IngenioRx.
Anthem, which operates Blue Cross and Blue Shield plans in 14 states, Wednesday said its health plan membership rose 3%, or by more than 1 million members, to 42.1 million as of March 31, 2020 compared to last year’s first quarter. Anthem saw its biggest membership gain in the quarter from Medicare Advantage, which rose 17% to 1.3 million health plan members compared to the first quarter of 2019. Anthem revenues rose 20% to $29.6 billion.
Anthem reported $1.5 billion in net income, which was down slightly compared to the first quarter...
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