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Elevance Health Stock Sinks
Elevance Health Stock Plunges on Profit Hit From Fall in Medicaid Memberships
Key Takeaways Elevance Health shares plunged Thursday after the insurer reported lower-than-expected earnings and cut its outlook as changes in Medicaid slashed membership rolls.The insurer's third-quarter Medicaid membership dropped 19% from a year ago on eligibility redeterminations and other changes to the program.
Elevance Health’s stock slumps 13% as profit dented by ‘unprecedented’ Medicaid challenges
We remain confident in the long-term earnings potential of our diverse businesses as we navigate a dynamic operating environment and unprecedented challenges in the Medicaid business,” Chief Executive Gail K.
Ballooning Medicaid costs challenge health insurer Elevance
On Thursday, Elevance Health disclosed in its third quarter earnings release that its medical loss ratio — the amount of premium revenue it spent on medical care — was markedly higher than Wall Street analysts expected, sending its stock price into a tailspin.
18h
on MSN
Elevance Shares Dive After Insurer Faces ‘Unprecedented’ Medicaid Challenge
It was the latest sign of how medical expenses are squeezing insurers’ earnings, a result likely to punish shares across the ...
Crain's New York
52m
Insurance companies may seek pay increases amid Medicaid, Medicare woes
UnitedHealth and Elevance saw double-digit decreases in their stocks this week after they reported worse-than-expected ...
Modern Healthcare
22h
Elevance shares plummet as its Medicaid business struggles
The results show a worsening outlook for health insurers that for years have relied on government programs for growth.
11h
Elevance Health Ads To Carelon Portfolio With Carebridge Acquisition
Elevance Health has purchased Carebridge, a manager of "home and community-based services," the health insurer disclosed ...
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