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ued the state of maine for the right to increase premiums further 96 since maine licenses insurance companies through its bureau of insurance anthem needed the state s permission to raise rates 97 the court disagreed with anthem and found that unlike with other forms of insurance the maine insurance code does not require the superintendent to consider profits 98 rate increases in california edit in february 2010 wellpoint announced that rates would increase on some anthem blue cross individual policies in california by as high as 39 the announcement resulted in an investigation by regulators from the federal and california governments 99 anthem blue cross gained worldwide media attention and became a poster child for the problem of rising cost of health care in the u s 99 the rate increase came one year after anthem had raised rates 68 on individual policy holders 99 to explain the rate increases some which were four times the rate of medical inflation anthem said the company had experienced a death spiral the company claimed that with increased unemployment and declining wages healthy customers dropped their insurance policies consequently the remaining risk pool became sicker and thus more expensive to insure and in turn prices were forced up and pushed more people out of the market 100 in response to the outrage from politicians and consumers anthem postponed the rate increase until may 1 2010 101 senator dianne feinstein of california proposed giving the federal government of the united states authority to block insurance premium hikes that it considers to be unjustified 102 wellpoint cost reclassification edit on march 17 2010 wellpoint announced it was reclassifying some of its administrative costs as medical care costs in order to meet loss ratio requirements under the patient protection and affordable care act which requires insurers to spend at least 80 or 85 of customer premiums on health care services depending on the type of plan 103 2009 2010 data breach edit in june 2010 anthem sent letters to 230 000 customers in california warning them that their personal data might have been accessed online via a data breach after a routine upgrade in october 2009 a third party vendor stated that all security measures had been properly reinstated when in fact they had not as a result personal information of thousands of coverage applicants who were under the age of 65 was exposed in the open after a los angeles area woman found that her application for coverage was publicly available she filed a class action lawsuit against anthem while gathering evidence for the proceeding the woman s lawyers downloaded some confidential customer information from anthem s website and alerted anthem about the breach according to the lawyers confidential information had remained exposed for five months 104 greg zoeller indiana s attorney general filed a lawsuit against the company seeking 300 000 in civil penalties for the company alleged failure to notify its consumers about the breach 105 denial of benefits for cancer treatment edit in may 2014 anthem blue cross refused to pay for the hospitalization of a sonoma county california man for stage four cancers although he had paid anthem over 100 000 in premiums 106 107 anthem ended up paying for coverage following public outcry 108 2015 data breach edit main article anthem medical data breach on february 4 2015 anthem inc disclosed that criminal hackers had broken into its servers and potentially stolen over 37 5 million records that contain personally identifiable information from its servers according to anthem inc the data breach extended into multiple brands anthem inc uses to market its healthcare plans including anthem blue cross anthem blue cross and blue shield blue cross and blue shield of georgia empire blue cross and blue shield amerigroup caremore and unicare 109 healthlink was also victimized anthem says the medical information and financial data was not compromised anthem has offered free credit monitoring in the wake of the breach 110 according to bloomberg news china may be responsible for this data breach michael daniel chief adviser on cybersecurity for president barack obama said he would be changing his own password 111 about 80 million company records were hacked stoking fears that the stolen data could be used for identity theft 112 the compromised information contained names birthdays medical ids social security numbers street addresses e mail addresses employment information and income data 113 in june 2017 anthem agreed to spend 115m to settle allegations that it failed to adequately protect the data of its clients the sum was to be spent on two years of services to protect victims from identity theft 114 in 2019 two chinese nationals were indicted for the breach 115 116 117 avoidable er program edit beginning in 2015 anthem has been implementing and expanding its avoidable er program 118 which means not reimbursing er visits when the cause is not covered by the company a few patients found out that they had been stuck with bills of over 10 000 that anthem refused to reimburse 119 according to a 2013 report by the journal of the american medical association 87 percent of patients initially triaged as non urgent ended up with a diagnosis that constituted an emergency 120 critics derided the scheme citing that it was unlawful by federal law to cover a person based on diagnosis not symptoms 118 it was also considered unsafe as it pressured patients to diagnose themselves before going to the er 119 neglecting complaints edit in 2017 the california department of managed health care fined the company 5 million for untimely response to consumer complaints 121 in 2019 this was settled at 2 8 million 122 2019 lawsuit for coercive direct payments edit in 2019 sovereign health pressed charges against anthem alleging that it was using direct payments to compel them to join anthem s network under unfavorable terms 123 sovereign owns facilities that treat people with addiction and mental health problems diagnostics fraud edit in march 2020 anthem was sued by the department of justice the lawsuit alleges that anthem had submitted inaccurate diagnostics data in order to obtain increased medicare reimbursements 124 in october 2022 a judge ordered anthem to face the lawsuit 125 medicare advantage star rating edit in january 2024 elevance health filed a lawsuit with the department of health and human services hhs challenging changes in the medicare advantage star rating methodology star ratings are tied to key bonus payouts and due to the new rating system in 2024 ratings have significantly decreased 126 127 finances edit for the fiscal year 2017 anthem reported earnings of us 3 843 billion with an annual revenue of us 90 039 billion an increase of 6 1 over the previous fiscal cycle anthem s shares traded at over 183 per share and its market capitalization was valued at over us 69 1 billion in october 2018 128 year revenue in mil us net income in mil us total assets in mil us price per share in us employees 2005 44 614 2 464 51 287 60 61 2006 57 058 3 095 51 575 66 39 2007 61 168 3 345 52 060 71 13 2008 61 251 2 491 48 403 46 09 2009 64 940 4 746 52 125 41 67 2010 58 699 2 887 50 167 50 00 2011 60 711 2 647 52 163 60 91 2012 61 497 2 656 58 955 57 16 2013 71 024 2 490 59 575 72 27 48 000 2014 73 874 2 570 61 676 101 39 51 000 2015 79 157 2 560 61 718 140 42 53 000 2016 84 863 2 470 65 083 129 28 53 000 2017 90 040 3 843 70 540 183 12 56 000 2018 129 92 105 3 750 71 571 248 34 63 900 2019 130 104 213 4 807 77 473 268 65 70 600 2020 131 121 867 4 572 86 615 2021 132 138 639 6 104 97 460 98 200 2022 133 156 595 6 025 102 772 102 300 recognition edit the company was featured on the s p dow jones sustainability index from 2018 to 2022 134 was named by fortune as one of the 100 best companies to work for 135 and was included on the corporate equality index s list of best places to work for lgbtq equality from 2015 to 2022 136 see also edit list of united states insurance companies references edit 1 2 3 4 5 elevance health inc 2025 form 10 k annual report u s securities and exchange commission february 18 2026 elevance health inc 2024 form 10 k annual report u s securities and exchange commission february 20 2025 elevance health trademark details justia trademarks retrieved february 17 2026 form 8 k for anthem inc filed 05 18 2022 u s securities and exchange commission may 18 2022 retrieved june 28 2022 anthem health plans anthem insurance companies inc retrieved june 28 2022 anthem antm unveils two brands to boost whole person health zacks com june 16 2022 retrieved june 28 2022 transcribing motley fool april 20 2022 anthem antm q1 2022 earnings call transcript the motley fool retrieved march 3 2026 fortune 500 fortune com retrieved june 24 2022 the global 2000 2023 forbes archived from the original on january 29 2024 retrieved february 7 2024 1 2 brennan gerald david e salamie 2009 jay p pederson ed wellpoint inc vol 103 international directory of company histories pp 505 514 blue cross blue shield antitrust litigation mdl no 2406 case has many plaintiffs and defendants case 2 12 cv 02532 rdp document 263 master file no 2 13 cv 20000 rdp 183 185 u s district court for the northern district of alabama southern division november 25 2014 in the matter of the acquisition of control of wellchoice insurance hearing officer s of new jersey inc by wellpoint inc report and wellpoint holding corp pdf state of new jersey department of banking and insurance andrews greg july 24 2015 from the archives anthem s path from laggard to leader american city business journals retrieved march 3 2026 sekhri rajiv february 17 1997 acordia rauh placed on auction block for third time american city business journals retrieved march 3 2026 company news kemper insurance unit to be sold for 100 million the new york times bloomberg news november 24 1993 indiana kentucky blues to merge united press international march 26 1993 national city acquisition the new york times reuters december 8 1994 curtis richard november 9 1998 anthem looking at mergers american city business journals retrieved march 3 2026 1 2 feder barnaby j may 30 1996 anthem s strategy bigger the better the new york times retrieved march 3 2026 levick diane august 2 1997 blue cross anthem merge hartford courant retrieved march 3 2026 jones dow august 5 1997 acordia managers in 330 million deal to buy out firm the new york times issn 0362 4331 retrieved march 3 2026 press the associated january 29 1999 company news anthem agrees to buy blue cross of new hampshire the new york times issn 0362 4331 retrieved march 3 2026 anthem to acquire blue cross and blue shield of maine american city business journals july 13 1999 gordon jennifer november 5 2001 anthem s ipo well received stock trades heavily american city business journals retrieved march 3 2026 clabaugh jeff november 4 2002 trigon acquisition benefits anthem american city business journals retrieved march 3 2026 shiver jr jube september 9 1985 merger has led to strife at blue cross los angeles times retrieved march 3 2026 sidel robin rundle rhonda october 27 2003 anthem to acquire wellpoint health the wall street journal retrieved march 3 2026 our companies elevance health www elevancehealth com retrieved march 3 2026 wellpoint goes public investors positive united press international january 28 1993 terhune chad march 18 2015 with billions in the bank blue shield of california loses its state tax exempt status los angeles times retrieved march 3 2026 massmutual to sell group life health unit hartford courant january 10 1996 olmos david r october 11 1996 wellpoint buys unit of john hancock los angeles times retrieved march 3 2026 murphy barbara october 17 2000 wellpoint to acquire pharmaceutical facility los angeles times retrieved march 3 2026 murphy barbara march 14 2000 wellpoint health acquires rush presidential health los angeles times retrieved march 3 2026 wellpoint set to buy cerulean by march 31 american city business journals january 3 2001 graham scott november 21 2001 wellpoint to acquire carefirst bluecross blueshield american city business journals retrieved march 3 2026 page leigh march 6 2003 maryland insurance commissioner rejects wellpoint acquisition of carefirst modern healthcare retrieved march 3 2026 desloge rick december 23 2001 rightchoice managed care inc acquired by l a based wellpoint american city business journals retrieved march 3 2026 missouri blue cross health care foundation is held out as national relias media retrieved march 3 2026 journal rhonda l rundle staff reporter of the wall street october 19 2001 wellpoint agrees to buy rightchoice for cash stock totaling 1 3 billion wsj wall street journal retrieved march 3 2026 kreimer susan january 25 2002 wellpoint to acquire methodistcare houston chronicle retrieved march 3 2026 wellpoint completes acquisition of golden west dental vision strengthens commitment to growth in the dental arena press release business wire june 30 2003 archived from the original on june 17 2022 retrieved june 24 2019 sorkin andrew ross freudenheim milt june 4 2003 wellpoint in deal to acquire health insurer in wisconsin the new york times retrieved march 2 2020 wellpoint anthem complete merger american city business journals december 1 2004 anthem wellpoint complete 16 5 billion merger nbc news associated press december 1 2004 wellpoint acquires health plan provider best s insurance news june 10 2005 richard christine sullivan tom january 7 2006 corporate debt offerings boom as buybacks deals are planned the wall street journal retrieved march 2 2020 wellpoint completes acquisition of american imaging management press release thomas register august 9 2007 president of wellpoint s anthem blue in california leaves post insurance journal july 21 2010 dergurahian jean april 17 2008 wellpoint purchases data firm resolution health modern healthcare retrieved march 2 2020 newmarker chris april 22 2009 wellpoint completes decare dental acquisition american city business journals retrieved march 2 2020 main tom slywotzky adrian october 3 2011 the quiet health care revolution the atlantic retrieved march 2 2020 mathews anna wilde kamp jon july 9 2012 wellpoint s medicaid bet the wall street journal retrieved march 2 2020 caldwell carla december 25 2012 wellpoint inc acquires amerigroup corp american city business journals retrieved march 2 2020 roy avik july 11 2012 wellpoint buys amerigroup bets big on medicaid expansion but will states and voters cooperate forbes retrieved march 2 2020 robeznieks andis august 28 2012 angela braly resigns as president and ceo of wellpoint modern healthcare retrieved march 2 2020 terhune chad august 28 2012 wellpoint ceo angela braly quits bowing to investor pressure los angeles times retrieved march 2 2020 matthews anna wilde august 12 2014 wellpoint changes its name to anthem the wall street journal retri...
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