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Elevance Health

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businesshealthcare1 year ago

Elevance Health Beats Profit Estimates Despite Stock Slide

Elevance Health has warned of high medical costs for the year due to increased claims from Medicaid members, leading to a nearly 7% drop in its shares. The insurer expects more claims in the second half of the year from sicker patients, which could offset revenue growth. This trend has also affected shares of rival insurers like Centene and Molina Healthcare. Despite this, Elevance's second-quarter adjusted profit beat estimates, driven by its health services unit Carelon and growth in Obamacare and commercial health plans.

via Yahoo Finance|
#businesshealthcare#earnings-report#elevance-health
business1 year ago

"Louisiana's Largest Health Care Deal Crumbles: Blue Cross Sale Shelved"

Blue Cross and Blue Shield of Louisiana's $2.5 billion deal to sell to Elevance Health fell apart after facing intense political opposition, concerns from policyholders, and regulatory issues. Despite spending $20 million and garnering support from powerful lobbyists and the governor, the deal was ultimately derailed by a state Senate hearing and a lack of coordination between the companies' teams. The deal's collapse highlighted the challenges of navigating political and public relations aspects of major business transactions in the healthcare industry.

via NOLA.com|
#blue-cross#business#elevance-health
business1 year ago

"Blue Cross Blue Shield's Last-Minute Acquisition Cancellation and Regulatory Hearing Updates"

Blue Cross and Blue Shield of Louisiana has decided to shelve its plans for a $2.5 billion sale to Elevance Health for the second time, leading to the cancellation of regulatory hearings. The nonprofit's proposal faced opposition from various stakeholders, including doctors, hospitals, policyholders, and state lawmakers. Blue Cross officials cited the need for more time and information for stakeholders to understand the proposed changes, prompting the withdrawal of the filing with the Louisiana Department of Insurance. It remains uncertain whether the company will attempt a third reorganization to facilitate the sale to Elevance. Elevance expressed continued commitment to the partnership despite the withdrawal. Critics have raised concerns about the deal's structure, Elevance's track record, and the involvement of Gov. Jeff Landry in the proposed foundation.

via NOLA.com|
#blue-cross#business#elevance-health
health-insurance1 year ago

"Blue Cross Blue Shield Louisiana Halts Transaction Plans and Hearing in Last-Minute Decision"

Blue Cross and Blue Shield of Louisiana has decided to pause its acquisition plans and withdraw its plan of reorganization with Elevance Health, prompting the cancellation of a Louisiana Department of Insurance hearing. The Louisiana Attorney General, Liz Murrill, has issued a statement on the matter, and more information about the withdrawn transaction can be found on the WAFB website.

via WAFB|
#acquisition#blue-cross-blue-shield#elevance-health