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flag Elevance Health lowers 2024 earnings forecast due to increased Medicaid costs and enrollment drop.

flag Elevance Health has revised its 2024 adjusted earnings forecast down to approximately $33 per share, from $37.20, primarily due to increased Medicaid costs and a 19% drop in enrollment. flag This decline is attributed to a mismatch between state Medicaid rates and rising claims costs, expected to persist into 2025. flag Despite a 21% decrease in Q3 profit, Elevance remains optimistic about long-term growth in Medicaid Managed Care, focusing on operational efficiencies and member service.

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