Company: ELV
Filing Date: 2025-06-24
Form Type: 11-K
Source: 0001156039-25-000104
Chunk: 5

Company: Elevance Health, Inc.
Filing Date: 2025-06-24
Form: 11-K
Chunk 5
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 made during the 2024 plan year.

Participants who attain age 50 by the end of the plan year may contribute additional "catch up" contributions to their account beyond the regular annual IRS limit, in accordance with applicable law and the Plan's terms. Catch-up contributions are eligible for matching contributions.

#### Rollover Contributions
The Plan may accept rollover contributions. Rollover contributions represent distributions received from other qualified retirement plans, as defined in section 401(a)(31)(E) of the Internal Revenue Code (the "Code"), including any such distributions contributed via a "conduit" individual retirement account. Distributions from other plans are subject to certain conditions to be eligible for rollover into the Plan.

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#### Elevance Health 401(k) Plan

### Notes to Financial Statements (continued)

#### Vesting
Participants have a vested interest in the Plan Sponsor match after completing a two-year period of service. Nonvested account balances of terminated employees are forfeited (subject to reinstatement upon reemployment as required by applicable law and the Plan's terms).

#### Investments
Participants direct their elective contributions and employer matching contributions into various investment options offered by the Plan, including target date funds, several mutual and collective investment trust funds, all of which are subject to change from time to time by the Plan Administrator, and the Elevance Health Stock Fund, which is provided for in the Plan document and overseen by an independent fiduciary. The Plan also provides access to a self-directed brokerage option. If a participant has not elected an investment option, their contributions will automatically be invested in the Plan’s qualified default investment alternative which is the target date fund aligned with the year the participant turns 65.

The Elevance Health Stock Fund is a unitized fund, which means participants do not actually own shares of Elevance Health common stock but rather own an interest in the unitized fund. A portion of the fund may be invested in short-term reserves to accommodate daily transactions. Investment in the Elevance Health Stock Fund is limited to no more than 20% of a participant's total account balance. Each participant is entitled to exercise voting rights attributable to the shares allocated to his or her account. Any cash dividends paid to the participant’s account will be reinvested in the Elevance Health Stock Fund unless the participant elects to receive the dividend in cash paid directly to the participant. Participants may change their election to receive dividends in cash or to reinvest dividends at least quarterly.

#### Benefit Payments and Withdraw