Elevance Health
Elevance Health is a leading health company focused on delivering integrated, whole-health solutions across the care journey. The company provides a comprehensive suite of medical, pharmacy, behavioral, and specialty health services to millions of members through its affiliated health plans and healthcare services brands. Its core value proposition centers on leveraging local market presence and national scale to improve health outcomes and advance health equity through value-based care models.
Financials
Based on Q1 2026 filing
Revenue
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Health Benefits
primaryOffers a comprehensive suite of risk-based and fee-based health plans to individual, employer group, and government markets. This segment manages medical membership and provides administrative services, including claims processing and medical management.
Anthem Blue Cross, Anthem Blue Cross and Blue Shield, Wellpoint, Simply Healthcare, MMM, BlueCard, Federal Employee Program (FEP)
Individual, Employer Group, Medicaid, Medicare, Federal Government
CarelonRx
majorProvides comprehensive pharmacy services, including home delivery, specialty pharmacy, and claims adjudication. It serves both affiliated health plans and external customers, integrating pharmacy and clinical programs into a whole-health model.
CarelonRx, Paragon Healthcare, Ambulatory Infusion Centers
Affiliated Health Plans, External Health Plans, Individual Members
Carelon Services
moderateIntegrates physical, behavioral, and social care capabilities to support whole-health services and enhance affordability. It focuses on managing complex healthcare areas through provider enablement, value-based networks, and data-driven insights.
Carelon Health, Carelon Insights, Carelon Behavioral Health, Carelon Medical Benefits Management, Carelon Post Acute Solutions, Carelon Care Navigation, Sydney Health, HealthOS
Internal Health Plans, External Health Plans, Chronic and Complex Patient Populations
Segment Financials
Health Benefits — Benefit expense
View metricHealth Benefits — Premiums
View metricCorporate & Other — Benefit expense
View metricCarelonRx — Operating revenue - total
View metricCarelon Services — Benefit expense
View metricCarelon Services — Premiums
View metricCarelon Services — Operating revenue - total
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Competitive Position
One of the largest health insurers in the United States by medical membership, holding exclusive Blue Cross Blue Shield licenses in 14 states.
Geographies
United States, Puerto Rico
Customer Segments
Commercial Employers, Government Agencies, Individual Consumers, Medicare/Medicaid Beneficiaries
Upstream Dependencies
Pharmaceutical Manufacturers, Healthcare Providers (Physicians, Hospitals), Technology and Data Infrastructure Providers, Blue Cross and Blue Shield Association (Licensing)
Downstream Customers
Large National Employers, Small and Medium Businesses, State and Federal Government Agencies, Individual Policyholders
Competitors & Partners
Competitors
Partners
Blue Cross and Blue Shield Association
Licensing association for Blue Cross and Blue Shield brands
CVS Health
CVS
Provides core pharmacy services through its subsidiary CaremarkPCS Health
Clayton, Dubilier & Rice
Joint venture partner in Mosaic Health
Augusta Topco Holdings L.P. (Mosaic Health)
Joint venture for advanced primary care
Subsidiaries
Carelon
Healthcare services and capabilities brand
CarelonRx
Pharmacy benefit management business
Wellpoint
Non-BCBS branded health insurance plans
Simply Healthcare
Florida-based health plan
MMM
Puerto Rico-based health plan
Paragon Healthcare, Inc.
Ambulatory infusion and specialty pharmacy provider
CareBridge
Virtual care provider for complex Medicaid and Medicare patients
Amerigroup
Medicaid-focused business unit
Elevance Health FAQ
Common questions about Elevance Health
Elevance Health is a leading health company focused on delivering integrated, whole-health solutions across the care journey. The company provides a comprehensive suite of medical, pharmacy, behavioral, and specialty health services to millions of members through its affiliated health plans and healthcare services brands. Its core value proposition centers on leveraging local market presence and national scale to improve health outcomes and advance health equity through value-based care models.
Elevance Health (ELV) has a market capitalization of $84.7B and trades on NYSE.
Elevance Health generated $200.42B in trailing twelve-month revenue with net income of $5.2B, representing a net margin of 2.6%. Gross margin stands at 89.2%, with free cash flow of $6.7B. These figures are based on the Q1 2026 filing.
Elevance Health's key competitors include The Cigna Group, Humana Inc., Centene Corporation, and others. These companies compete in similar markets and product categories.
Elevance Health has approximately 104,900 employees.