Elevance Health, Inc. ELV

What this company does

Elevance Health offers network-based managed care risk-based plans to the Individual, Employer Group, Medicaid and Medicare markets. It served approximately 45.2 million medical members through its affiliated health plans as of December 31, 2025. Members are served under its Blue Cross licensee status for California and its Blue Cross and Blue Shield licensee status for Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri, Nevada, New Hampshire, New York, Ohio, Virginia and Wisconsin. Its employee population, including all full-time, part-time and temporary workers, consisted of approximately 97,100 individuals as of December 31, 2025, 71,900 of them in the United States and 25,200 internationally. It reports its results of operations in four reportable segments: Health Benefits, CarelonRx, Carelon Services and Corporate & Other. The Health Benefits segment offers health products on a full-risk basis, administrative managed care services to fee-based customers, and specialty products such as stop loss, dental, vision and supplemental health insurance benefits. CarelonRx offers pharmacy services that include home delivery and specialty pharmacies, claims adjudication, formulary management, pharmacy networks, rebate administration, a prescription drug database and member services. The Carelon Services segment integrates physical, behavioral, pharmacy and social-care capabilities for internal and external customers through the Carelon Health and Carelon Insights businesses.

Written from the business description in Elevance Health, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 6 February 2026. Every sentence was checked against that document before publication.