Forbes January 23, 2025
Elevance Health reported nearly $6 billion in 2024 profits including $418 million in the fourth quarter as the health insurer worked to overcome rising medical expenses from patients in its Medicaid plans.
Elevance, which operates Blue Cross and Blue Shield health plans in 14 states as well as government-subsidized Medicaid benefits for the poor and Medicare Advantage plans for seniors, has been struggling like other health insurers to control costs amid an influx of patients seeking medical treatment. Health insurers are seeing an uptick in claims submitted by patients executives say is driven in part by a pent up demand for medical care put off during the Covid-19 pandemic. In Elevance’s case, the company is experiencing an influx of sick...
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