Elevance Health added several acquisitions in 2024.
The company also projected growth for its Medicare Advantage business and scored a court victory challenging CMS' star ratings methodology.
Here are 10 of the biggest stories about Elevance Health and Anthem Blue Cross Blue Shield Becker's covered in 2024:
- Anthem BCBS walked back a controversial policy capping the amount of time it would reimburse providers for anesthesia services in some states, after a wave of backlash on social media and criticism from lawmakers.
- Healthcare logistics company Owens & Minor filed a lawsuit against Anthem BCBS of Virginia, accusing the insurer of failing to uphold its fiduciary duties under ERISA through mismanagement of its employee health plan.
- Elevance Health was among several major insurers that eliminated some commissions to brokers selling Medicare Advantage plans for 2025.
- Elevance Health has picked up several specialty pharmacy and care-based companies in recent years, bolstering the capacity of its health services arm, Carelon. In October, the company said it intends to purchase Nashville-based CareBridge, a value-based home and community-based care provider for patients with chronic and complex needs. The same month, Kroger closed the sale of its specialty pharmacy business to Elevance.
- Anthem BCBS requested payments from some providers it alleged falsified patients' medical records when prescribing Ozempic, Bloomberg reported in September. A spokesperson for the company told Bloomberg it contacted a small number of providers about repayments for Ozempic prescribed to their patients. In some cases, the amount of repayment requested was more than $1 million.
- Indianapolis-based Indiana University Health sold its health plan to Anthem BCBS for an undisclosed amount.
- Elevance Health launched Mosaic Health, a primary care venture with private equity firm Clayton, Dubilier & Rice. The financial terms of the deal were not disclosed, but Elevance Health executives said they expected to earn $4 billion in revenue annually. The primary care effort is payer agnostic and will serve 1 million members across 19 states in Medicare, Medicaid, commercial and individual markets.
- In June, CMS recalculated the star ratings for several Medicare Advantage plans after judges sided with Elevance Health and other payers who challenged the agencies methodologies in court.
- Elevance Health executives predicted the company could see "market-plus" Medicare Advantage growth in 2025, as other insurers pulled back on their offerings.
- Facing scrutiny from physicians and state officials, Blue Cross Blue Shield of Louisiana halted its proposed $2.5 billion sale to Elevance Health.