reported a first quarter 2024 profit of $2.2 billion as strong growth in sales of commercial health insurance and healthcare services offset a big decrease in Medicaid enrollment.Elevance Health reported a first quarter profit of $2.2 billion as strong growth in sales of commercial health insurance and healthcare services offset a big decrease in Medicaid enrollment.
Total revenue rose 1% to $42.6 billion as growth in other health benefits businesses made up for most of the loss in Medicaid members and the company’s Carelon health services business performed well. The end of the U.S. Public Health Emergency in May after three years of the COVID-19 pandemic is impacting health insurers that have a significant business administering Medicaid coverage for states, which are conducting so-called “Medicaid redeterminations.” Medicaid redetermination, also described as Medicaid renewal or Medicaid recertification, is essentially when people are asked to show they are qualified for such coverage.
Blue Cross Blue Shield Anthem Medicaid Redeterminations
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