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

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. This decline is attributed to a mismatch between state Medicaid rates and rising claims costs, expected to persist into 2025. 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.

October 17, 2024
27 Articles