Elevance Health is suing four former executives of its Puerto Rico subsidiary, alleging they violated noncompete agreements by leaving for rival insurer Triple-S Salud.
The complaint, filed Jan. 29 in an Indiana federal court, claims the former executives broke the terms of their stock compensation deals when they joined a direct competitor. Elevance is seeking more than $1.08 million in combined repayment of stock awards, plus attorneys’ fees and interest.
Three of the defendants joined Elevance after it acquired MSO of Puerto Rico in June 2021, while the fourth had been employed by the subsidiary since 2018. According to the complaint, all four resigned between August and December 2025 and took senior positions at GuideWell’s Triple-S, which the lawsuit describes as the largest payer in Puerto Rico.
The former executives held roles spanning medical leadership, inpatient services, finance and pharmacy operations, and their new positions at Triple-S involve similar duties, the complaint alleges. Elevance claims each had access to confidential information, including marketing strategies, pricing, business plans, financial data and proprietary operational models that would be valuable to a competitor.
The stock awards were granted under an incentive compensation plan that came with conditions, including agreements not to work for a competitor for 12 months after leaving the company. Elevance alleges it sent letters to the former executives and requested repayment within 10 days, but none made any payments.
In September, Elevance sued a former senior underwriting executive who took a position at health benefits company Gravie, alleging she had access to confidential pricing formulas and trade secrets. In 2023, the company sued a former executive who left for a similar role at Molina Healthcare, which was eventually settled.
