Elevance Health

Elevance Health helps millions of people get medical care and health insurance. It connects families to doctors, pharmacies, and support for their well-being. The company makes it easier for people to manage their daily health needs.

What Elevance Health Does

• Health Benefits: Provides health insurance plans for individuals, employers, and government programs like Medicare and Medicaid.
• CarelonRx: Offers pharmacy services, including home delivery and specialty medicine management, for both internal and external customers.
• Carelon Services: Delivers specialized health support, such as behavioral health and home care, to manage complex medical needs.
• Federal Health Products: Administers the Federal Employee Program for United States government employees and their families.

Strategic Moves and Growth

• Acquired Paragon Healthcare in March 2024 to add infusion centers and injectable therapies to its pharmacy portfolio.
• Completed the purchase of CareBridge at the end of 2024 to provide virtual care for complex Medicaid and Medicare patients.
• Expanded medical plan operations into parts of Florida, Maryland, and Texas during 2025 using the Simply Healthcare and Wellpoint brands.
• Formed a joint venture called Mosaic Health with Clayton, Dubilier & Rice to manage advanced primary care services.

A Local Focus with National Reach

Elevance Health uses a local-market approach to build strong networks with doctors and hospitals in specific communities. This strategy combined with national scale allows it to reward clinical quality through payment models that focus on patient outcomes.

The Recent Financial Record

• Revenue grew to $49.7 billion in Q4 2025, a 9.5% increase from Q4 2024.
• Net income rose to $547 million in Q4 2025, up 30.9% from $418 million in Q4 2024.
• Operating income fell to $581 million in Q4 2025, a 38.6% drop from the previous year.
• Operating cash flow was $84 million in Q4 2025, down 88.1% compared to $706 million in Q4 2024.

Bottom Line

Elevance Health has transitioned from a traditional insurer into a broad health services company. By integrating pharmacy and clinical care with its insurance business, it has built a platform for managing the total health of its 45 million medical members.