Elevance Health slashes profit forecast on persistently high medical costs
Elevance Health cut its annual profit expectation on Thursday due to increased medical costs in its government-backed plans, becoming the latest U.S. insurer to take a hit from high demand for healthcare services.
Elevance Health Latest Insurer Battered By Higher Medical Costs
Elevance Health is the latest health insurance company to report higher-than-expected medical costs as third quarter profits tumbled more than 20%.
Elevance Health’s stock tumbles as profit dented by ‘unprecedented’ Medicaid challenges
We remain confident in the long-term earnings potential of our diverse businesses as we navigate a dynamic operating environment and unprecedented challenges in the Medicaid business,” Chief Executive Gail K.
Elevance Health cuts annual profit forecast on persistently higher medical costs
Elevance Health cut its full-year profit forecast on Thursday, as it expects to pay out more in claims due to robust demand for medical care from members in its government-backed plans, sending its shares down 6% in premarket trading.
Elevance Health Stock Plunges on Profit Hit From Fall in Medicaid Memberships
Key Takeaways Elevance Health shares plunged Thursday after the insurer reported lower-than-expected earnings and cut its outlook as changes in Medicaid slashed membership rolls.The insurer's third-quarter Medicaid membership dropped 19% from a year ago on eligibility redeterminations and other changes to the program.
Elevance Health stock slides after outlook cut amid rising medical expenses
Elevance Health (ELV) shares fall 12% as full-year earnings forecast is lowered due to high medical expenses, impacting the managed care industry.
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