Elevance Health is one of the largest health insurers in the United States, serving approximately 45.2 million medical members as of December 31, 2025. The company offers network-based managed care risk-based plans across Individual, Employer Group, Medicaid, and Medicare markets, and provides fee-based managed care services including claims processing, stop loss insurance, care provider network access, and medical management. Additional businesses include CarelonRx pharmacy services and Carelon Services health services, as well as administration of the Federal Employee Program.
Elevance operates as an independent Blue Cross and Blue Shield licensee across 14 states, conducting business under the Anthem Blue Cross, Wellpoint, and Carelon brands. The company is licensed in all 50 states, the District of Columbia, and Puerto Rico. Revenue is generated through risk-based premiums, administrative fees from self-funded employers, and pharmacy and health service fees.
