Anthem Inc.
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| Anthem Inc. | |
|---|---|
 | |
| Name | Anthem Inc. |
| Type | Public |
| Traded as | NYSE: ANTM |
| Industry | Managed health care |
| Founded | 0 2004 (as WellPoint, Inc.) |
| Predecessor | WellPoint Health Networks, Anthem Insurance Companies |
| Hq location city | Indianapolis, Indiana |
| Hq location country | United States |
| Area served | United States |
| Key people | Gail K. Boudreaux (President & CEO) |
| Products | Health insurance, Medicare, Medicaid, Employee benefits |
| Revenue | ▲ US$156.6 billion (2023) |
| Operating income | US$8.5 billion (2023) |
| Net income | US$6.1 billion (2023) |
| Assets | US$99.0 billion (2023) |
| Equity | US$39.5 billion (2023) |
| Num employees | ~98,000 (2023) |
| Subsid | Amerigroup, CareMore Health System, HealthSun, Mychart |
Anthem Inc. is a leading American managed health care and health insurance company. Headquartered in Indianapolis, it is one of the largest for-profit Blue Cross Blue Shield-affiliated health insurers in the United States. The company provides a wide range of medical insurance and related products, serving members through its affiliated plans in all 50 states and the District of Columbia.
History
The company's origins trace back to the 2004 merger of WellPoint Health Networks and Anthem Insurance Companies, which initially operated under the WellPoint name before rebranding to Anthem Inc. in 2014. A significant early expansion came with the 2005 acquisition of WellChoice, Inc., the parent of Empire Blue Cross Blue Shield, strengthening its presence in the New York market. Major growth continued through strategic purchases, including the 2012 acquisition of Amerigroup, a major player in the Medicaid managed care sector, and the 2020 purchase of the Medicare Advantage specialist HealthSun. The company has also integrated specialized care delivery models, such as those from CareMore Health System, to manage complex patient populations.
Operations
Anthem operates through a decentralized model, with licensed health plans doing business under the Blue Cross Blue Shield brand in 14 states, including California through Anthem Blue Cross and New York via Empire BlueCross BlueShield. Its core offerings include commercial health insurance, Medicare Advantage plans under the Anthem Blue Cross and Blue Shield banner, and Medicaid services largely administered through its Amerigroup subsidiary. The company also provides a suite of employee benefits, such as dental, vision, life insurance, and disability insurance. Through its IngenioRx pharmacy benefit manager and digital platforms like Sydney Health, Anthem aims to integrate medical, pharmacy, and behavioral health services.
Financial performance
As a constituent of the Dow Jones Industrial Average and the S&P 500, Anthem is a major publicly traded entity on the New York Stock Exchange under the symbol NYSE: ANTM. The company has consistently reported strong revenue growth, driven by premium increases, membership gains in government programs like Medicare and Medicaid, and strategic acquisitions. For the 2023 fiscal year, Anthem reported total revenue exceeding $156 billion, with significant contributions from its Government Business Division. Its financial strength is reflected in credit ratings from agencies like Moody's and S&P Global Ratings, which support its investment-grade debt.
Corporate affairs
The company is led by President and CEO Gail K. Boudreaux, a veteran of the health care industry and former executive at UnitedHealth Group. Anthem's corporate governance structure includes a Board of directors with members such as Gregory C. Case of Aon plc. Its headquarters are located in Indianapolis, a major hub for the insurance sector. The Anthem Foundation focuses the company's corporate social responsibility efforts, directing philanthropic investments toward public health initiatives, community health centers, and programs addressing social determinants of health. The company is a member of influential industry groups like America's Health Insurance Plans.
Controversies
Anthem has been involved in several high-profile legal and regulatory disputes. In 2018, it reached a $115 million settlement to resolve a class-action lawsuit related to a massive 2015 data breach that compromised the personal information of nearly 79 million people. The company has also faced scrutiny and legal challenges from the U.S. Department of Justice and various state attorneys general over its merger practices and billing procedures. In 2022, Anthem agreed to pay over $594 million to settle allegations by the U.S. Department of Justice that its Amerigroup subsidiary violated the False Claims Act by submitting inaccurate information to the Centers for Medicare & Medicaid Services. Consumer advocacy groups, including the Consumers Union, have periodically criticized the company for premium rate increases and claims denial practices.