Elevance Health, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Elevance Health filed its 2023 10-K, detailing its financial performance and business operations.</b>

AI Summary

Elevance Health, Inc. (ELV) filed a Annual Report (10-K) with the SEC on February 21, 2024. Elevance Health, Inc. filed its annual report on Form 10-K for the fiscal year ending December 31, 2023. The filing was made on February 21, 2024. The company was formerly known as Anthem, Inc., WellPoint, Inc., and WellPoint Inc. Elevance Health is classified under the SIC code 6324 for Hospital & Medical Service Plans. The company's principal business address is 220 Virginia Avenue, Indianapolis, IN 46204.

Why It Matters

For investors and stakeholders tracking Elevance Health, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Elevance Health's financial health, operational strategies, and risk factors for the fiscal year 2023, crucial for investors and stakeholders to assess the company's performance and outlook. As a major player in the health insurance industry, the details within this filing can offer insights into broader trends affecting healthcare services, costs, and regulatory environments.

Risk Assessment

Risk Level: medium — Elevance Health, Inc. shows moderate risk based on this filing. The company operates in the highly regulated healthcare industry, facing risks related to government regulations, healthcare reform, and competition, which could materially impact its financial results.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Elevance Health's performance and potential challenges in the evolving healthcare landscape.

Key Numbers

• 20231231 — Fiscal Year End (Conformed Period of Report)
• 20240221 — Filing Date (Filed as of Date)
• 6324 — SIC Code (Standard Industrial Classification)
• 001-16751 — SEC File Number (SEC File Number)

Key Players & Entities

• Elevance Health, Inc. (company) — Filer name
• Anthem, Inc. (company) — Former company name
• WELLPOINT, INC (company) — Former company name
• WELLPOINT INC (company) — Former company name
• 220 Virginia Avenue (location) — Business address
• Indianapolis (location) — Business address city
• IN (location) — Business address state
• 46204 (location) — Business address zip

FAQ

Industry Context

Elevance Health operates within the health insurance and managed care sector, a critical component of the U.S. healthcare system that provides health benefits to millions of Americans.

Regulatory Implications

The healthcare industry is subject to extensive federal and state regulations, including the Affordable Care Act, Medicare, and Medicaid, which significantly influence operations and profitability.

What Investors Should Do

1. Review the full 10-K filing for detailed financial statements and management's discussion and analysis.
2. Analyze the risk factors section to understand potential challenges and their impact on Elevance Health's business.
3. Compare Elevance Health's reported performance against industry benchmarks and previous fiscal years.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-21: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year 2023, following previous filings such as quarterly reports and prior year annual reports.

Key Financial Figures

• $0.01 — ich registered Common Stock, Par Value $0.01 ELV New York Stock Exchange Securitie

Filing Documents

• elv-20231231.htm (10-K) — 4067KB
• exhibit103-20231231forform.htm (EX-10.3) — 272KB
• exhibit1012-bluecrosslicen.htm (EX-10.12) — 970KB
• exhibit1013-blueshieldlice.htm (EX-10.13) — 953KB
• exhibit21-20231231forform1.htm (EX-21) — 229KB
• exhibit23-20231231forform1.htm (EX-23) — 5KB
• exhibit311-20231231forform.htm (EX-31.1) — 10KB
• exhibit312-20231231forform.htm (EX-31.2) — 11KB
• exhibit321-20231231forform.htm (EX-32.1) — 5KB
• exhibit322-20231231forform.htm (EX-32.2) — 5KB
• exhibit97-20231231forform1.htm (EX-97) — 34KB
• elv-20231231_g1.jpg (GRAPHIC) — 20KB
• elv-20231231_g2.jpg (GRAPHIC) — 203KB
• image_0.jpg (GRAPHIC) — 19KB
• 0001156039-24-000015.txt (&nbsp;) — 26092KB
• elv-20231231.xsd (EX-101.SCH) — 117KB
• elv-20231231_cal.xml (EX-101.CAL) — 87KB
• elv-20231231_def.xml (EX-101.DEF) — 781KB
• elv-20231231_lab.xml (EX-101.LAB) — 1600KB
• elv-20231231_pre.xml (EX-101.PRE) — 1180KB
• elv-20231231_htm.xml (XML) — 4645KB

RISK FACTORS

ITEM 1A. RISK FACTORS 23

UNRESOLVED STAFF COMMENTS

ITEM 1B. UNRESOLVED STAFF COMMENTS 38 ITEM 1C. CYBERSECURITY 38

PROPERTIES

ITEM 2. PROPERTIES 39

LEGAL PROCEEDINGS

ITEM 3. LEGAL PROCEEDINGS 39

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 39 PART II

MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 40

[RESERVED]

ITEM 6. [RESERVED] 42

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 42

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 64

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 66

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 132

CONTROLS AND PROCEDURES

ITEM 9A. CONTROLS AND PROCEDURES 132

OTHER INFORMATION

ITEM 9B. OTHER INFORMATION 135

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 135 PART III

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 135

EXECUTIVE COMPENSATION

ITEM 11. EXECUTIVE COMPENSATION 135

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 135

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 136

PRINCIPAL ACCOUNTANT FEES AND SERVICES

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 136 PART IV

EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 137

FORM 10-K SUMMARY 141

ITEM 16. FORM 10-K SUMMARY 141

SIGNATURES

SIGNATURES 148 -1- References in this Annual Report on Form 10-K to the terms "we," "our," "us," "Elevance Health" or the "Company" refer to Elevance Health, Inc., an Indiana corporation, and, unless the context otherwise requires, its direct and indirect subsidiaries. References to the term "states" include the District of Columbia and Puerto Rico, unless the context otherwise requires.

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This document contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect our views about future events and financial performance and are generally not historical facts. Words such as "expect," "feel," "believe," "will," "may," "should," "anticipate," "intend," "estimate," "project," "forecast," "plan" and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to: financial projections and estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to future operations, products and services; and statements regarding future performance. Such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond our control, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof. You are also urged to carefully review and consider the various risks and other disclosures discussed in our reports filed with the U.S. Securities and Exchange Commission from time to time, which attempt to advise interested parties of the factors that affect our business. Except to the extent required by law, we do not update or revise any forward-looking statements to reflect events or circumstances occurring after the date hereof. These risks and uncertainties include, but are not limited to: trends in healthcare costs and utilization rates; reduced enrollment; our ability to secure and implement sufficient premium rates; the impact of large scale medical emergencies, such as public health epidemics and pandemics, including COVID-19, and other catastrophes; the impact of new or changes in existing federal

BUSINESS

ITEM 1. BUSINESS. General Elevance Health and its subsidiaries, referred to throughout this document as "we," "us," "our," the "Company" or "Elevance Health," is a leading health company bringing together the concepts of elevate and advance, in order to exemplify and follow our bold purpose of improving the health of humanity. We serve people across their entire health journey to better address their full range of needs with an integrated whole-health approach. Through our broad view, we aim to meaningfully improve the health of the people and communities we serve. We strive to deliver on our mission by maximizing the power of partnerships, innovating to fuel growth and health equity, and maintaining a high-performance culture. Our strategy is to be a lifetime trusted health partner through the following four core focus areas: Whole Health – Partner to address physical, behavioral and social needs to improve health, affordability, quality, equity, and access for individuals and communities. Exceptional Experiences – Put the consumers we serve at the center of all that we do, personalizing engagement to meet consumers where they are and optimize health outcomes across individuals and populations. Care Provider Enablement – Be the easiest payer to work with by supporting care provider partners with data, insights, and tools they need to deliver exceptional care for our consumers. Digital Platform – Use digital technologies such as AI to transform the way we operate our business and interact with consumers by driving improvements in efficiency and experiences and converting data into actionable insights. With an unyielding commitment to meeting the needs of our diverse customers, we are guided by the following values: Community – We put people first Diversity – We value our differences Integrity – We build trust Agility – We embrace change Leadership – We lead by example We are one of the largest health insurers in the United States in terms of medical mem

View Full Filing

View this 10-K filing on SEC EDGAR