Elevance Health, formerly known as Anthem, Inc., is a leading health benefits company in the United States. With a rich history dating back to 1944, Elevance Health has evolved into one of the largest health insurance companies in the country, serving over 140 million people. In this article, we will delve into the company's history, its current structure, and its role as the parent company of Anthem.
History of Elevance Health
Elevance Health was founded in 1944 as the Blue Cross Association of Indiana. Over the years, the company has undergone significant transformations, including mergers and acquisitions, to become the entity it is today. In 1995, the company changed its name to Anthem, Inc. and began trading on the New York Stock Exchange (NYSE) under the ticker symbol ANTM. In 2022, Anthem, Inc. rebranded as Elevance Health, marking a new chapter in the company's history.
Structure and Operations
Elevance Health is a diversified health benefits company that offers a range of health insurance products and services. The company operates through several subsidiaries, including Anthem, Inc., which is its largest subsidiary. Anthem provides health insurance coverage to individuals, families, and businesses across several states in the US. Elevance Health's other subsidiaries include Amerigroup, Healthy Solutions, and Carelon, among others.
| Segment | Revenue (2022) |
|---|---|
| Health Insurance | $121.9 billion |
| Health Services | $24.5 billion |
| Other | $2.3 billion |
Key Points
- Elevance Health is a leading health benefits company in the US, serving over 140 million people.
- The company was founded in 1944 as the Blue Cross Association of Indiana and has undergone significant transformations over the years.
- Elevance Health operates through several subsidiaries, including Anthem, Inc., Amerigroup, and Healthy Solutions.
- The company offers a range of health insurance products and services, including health insurance coverage for individuals, families, and businesses.
- Elevance Health's revenue for 2022 was $148.7 billion, with a significant portion coming from its health insurance segment.
Role as Parent Company of Anthem
As the parent company of Anthem, Elevance Health plays a critical role in overseeing Anthem's operations and strategy. Anthem is one of the largest health insurance companies in the US, providing health insurance coverage to millions of people across several states. Under Elevance Health's umbrella, Anthem continues to operate as a leading health insurance provider, offering a range of health insurance products and services.
Benefits and Challenges
The rebranding of Anthem, Inc. to Elevance Health has brought several benefits, including a refreshed brand image and a renewed focus on the company's mission. However, the transition has also presented challenges, such as integrating different business units and systems under the new corporate structure.
What is Elevance Health?
+Elevance Health is a leading health benefits company in the US, serving over 140 million people. It was formerly known as Anthem, Inc. and rebranded in 2022.
What is the relationship between Elevance Health and Anthem?
+Anthem is a subsidiary of Elevance Health, and Elevance Health is the parent company of Anthem. Anthem is one of the largest health insurance companies in the US, providing health insurance coverage to millions of people.
What products and services does Elevance Health offer?
+Elevance Health offers a range of health insurance products and services, including health insurance coverage for individuals, families, and businesses. The company also provides health services, such as health management and wellness programs.
In conclusion, Elevance Health is a leading health benefits company in the US, serving over 140 million people. As the parent company of Anthem, Elevance Health plays a critical role in overseeing Anthem’s operations and strategy. The company’s rebranding from Anthem, Inc. to Elevance Health reflects its commitment to evolving with the changing needs of its customers.