Elevance Health Inc
- Industry
- Health Insurance & PBM
- Exchange
- US
- Country
- USA
- IPO date
- Jan 2, 2001
- Employees
- 96,129
- Website
- www.elevancehealth.com
Composite valuation range · conservative $300–$350 / fair $390–$450 / optimistic $480–$540. At $378.36, Between the conservative and fair ranges.
At publication $394.69 (May 26, 2026)
Data from EODHD, shown in the reporting currency; for reference only, not investment advice.
Elevance Health, Inc., together with its subsidiaries, operates as a health benefits company in the United States. The company operates in four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to individual, employer group risk-based and fee-based, BlueCard, Medicare, Medicaid, and FEP members; health products; a broad array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, and supplemental health insurance benefits. The company also operates in the pharmacy services business; and markets and offers pharmacy services, including home delivery and specialty pharmacies, claims adjudication, formulary management, pharmacy networks, rebate administration, a prescription drug database, and member services, as well as infusion services and injectable therapies through ambulatory infusion centers. In addition, it provides healthcare related services and capabilities, including specialty care enablement and utilization management support for specialized clinical domains; behavioral health and comprehensive care management services; palliative care services and management; virtual care; and payment integrity, subrogation, clinical data exchange through its HealthOS platform, research and data, reporting and clinical analytics, information technology, and business process support services, as well as manages home health, post-acute institutional management, and durable medical equipment costs; and supports plans in managing home and community-based services. The company provides its services under the Anthem Blue Cross and Blue Shield, Wellpoint, and Carelon brands. The company was formerly known as Anthem, Inc. and changed its name to Elevance Health, Inc. in June 2022. Elevance Health, Inc. was incorporated in 2001 and is based in Indianapolis, Indiana.
History
Elevance Health, Inc. was incorporated in 2001 and is based in Indianapolis, Indiana, and listed via an IPO dated January 2, 2001. The company was formerly known as Anthem, Inc. and changed its name to Elevance Health, Inc. in June 2022. In recent years it completed the CareBridge and Paragon acquisitions and invested in Mosaic Health and Liberty Dental, building out pharmacy, home-based complex care, and value-care capabilities. In 2024 it recognized a $106 million goodwill impairment within the Carelon Services reporting segment.
Industry position
Elevance Health is one of the largest health insurers in the United States, serving about 45.23 million medical members at the end of 2025 (about 45.42 million in Q1 2026), with strong regional standing across 14 core BCBS licensed markets. It operates four segments—Health Benefits, CarelonRx, Carelon Services, and Corporate & Other—with 2025 segment operating revenues of $167.094 billion, $43.400 billion, and $28.316 billion respectively; about 32% of 2025 consolidated revenue came from US government agencies. It markets under the Anthem Blue Cross and Blue Shield, Wellpoint, and Carelon brands, competing with UnitedHealth, Humana, Cigna, and CVS/Aetna.
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