Elevance Health, Inc.:  How Is The Expansion of Value-Based Care Initiatives Panning Out? 

Elevance Health, formerly known as Anthem, reported a fourth-quarter GAAP diluted earnings per share of $1.81 and adjusted EPS of $3.84, matching previous expectations. The adjusted EPS for the full year reached $33.04. Total operating revenue for 2024 was $175.2 billion, a 3% increase from the prior year, reflecting strategic premium rate adjustments and growth within its Carelon businesses. The company’s commercial divisions showed robust performance, with significant growth in its ACA health plan products and individual exchange business. The Medicare Advantage sector achieved improved retention, and the company anticipates a 7%-9% increase in membership in 2025, consistent with its forecast. Notably, the Medicare Advantage portfolio has been bolstered by innovative product designs, such as plans with zero premiums and co-pays, which align cost and health outcomes.