Business Segments · Benefit expense
Health Benefits — Benefit expense
Elevance Health Health Benefits — Benefit expense decreased by 4.6% to $35.45B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 3.1%, from $34.39B to $35.45B. Over 3 years (FY 2022 to FY 2025), Health Benefits — Benefit expense shows an upward trend with a 7.5% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
StatementSegment
CategoryEfficiency
SignalLower is better
VolatilityModerate
First reportedQ1 2022
Last reportedQ1 2026
Rolls up toMedical costs
How to read this metric
An increase relative to premiums suggests rising medical costs or utilization, which can compress profit margins.
Detailed definition
This metric represents the direct costs incurred for medical services and claims paid on behalf of insured members withi...
Peer comparison
Comparable to 'Medical Claims Expense' or 'Benefit Costs' at other health insurance providers.
Metric ID:
elv_segment_health_benefits_benefit_expenseHistorical Data
17 periods
| Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $28.97B | $28.97B | $28.97B | $28.97B | $30.93B | $30.93B | $30.93B | $30.93B | $30.50B | $30.44B | $32.72B | $33.04B | $34.39B | $35.49B | $36.85B | $37.16B | $35.45B |
| QoQ Change | — | +0.0% | +0.0% | +0.0% | +6.8% | +0.0% | +0.0% | +0.0% | -1.4% | -0.2% | +7.5% | +1.0% | +4.1% | +3.2% | +3.8% | +0.9% | -4.6% |
| YoY Change | — | — | — | — | +6.8% | +6.8% | +6.8% | +6.8% | -1.4% | -1.6% | +5.8% | +6.8% | +12.8% | +16.6% | +12.6% | +12.5% | +3.1% |
Range$28.97B – $37.16B
CAGR+5.2%
Avg YoY Growth+7.3%
Median YoY Growth+6.8%
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Frequently Asked Questions
- What is Elevance Health's health benefits — benefit expense?
- Elevance Health (ELV) reported health benefits — benefit expense of $35.45B in Q1 2026.
- How has Elevance Health's health benefits — benefit expense changed year-over-year?
- Elevance Health's health benefits — benefit expense increased by 3.1% year-over-year, from $34.39B to $35.45B.
- What is the long-term trend for Elevance Health's health benefits — benefit expense?
- Over 3 years (2022 to 2025), Elevance Health's health benefits — benefit expense has grown at a 7.5% compound annual growth rate (CAGR), from $115.87B to $143.89B.
- What does health benefits — benefit expense mean?
- The total cost of medical claims and services paid out for members in the Health Benefits segment.