Company: ELV
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-199226
Chunk: 41

Company: Elevance Health, Inc.
Filing Date: 2025-09-09
Form: 424B3
Chunk 41
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 “furnished” to the SEC, which is not deemed filed and not incorporated by reference herein. Information that we file with the SEC will automatically update and may replace information in this prospectus supplement and information previously filed with the SEC. We will provide without charge to each person, including any beneficial owner, to whom this prospectus supplement is delivered, upon written or oral request, a copy of any or all of the foregoing documents and any other documents that are incorporated herein by reference (other than exhibits unless such exhibits are specifically incorporated by reference in such documents). Requests for such documents should be directed to our Corporate Secretary at our principal executive office, located at: 220 Virginia Avenue, Indianapolis, Indiana 46204, Telephone (833) 401-1577. S-28

PROSPECTUS

### SENIOR DEBT SECURITIES

### SUBORDINATED DEBT SECURITIES

### PREFERRED STOCK

### COMMON
STOCK

### DEPOSITARY SHARES

### WARRANTS

### RIGHTS

### STOCK PURCHASE CONTRACTS

### STOCK PURCHASE UNITS
We
may offer and sell, from time to time, one or any combination of the securities we describe in this prospectus. The debt securities and our preferred stock we may offer may be convertible into or exchangeable for our common stock or our other
securities, or debt or equity securities of one or more other entities. When we offer securities, we will provide you with a prospectus supplement describing the terms of the specific issue of securities including the offering price of the
securities.

You should read this prospectus and the prospectus supplement relating to the specific issue of securities carefully before
you invest.

We may offer and sell these securities to or through one or more underwriters, dealers or agents, or directly to purchasers,
on a continuous or delayed basis.

Our common stock is listed on the New York Stock Exchange under the symbol “ELV.” Any
common stock sold pursuant to a prospectus supplement will be listed, subject to notice of issuance, on the New York Stock Exchange. If we decide to list or seek a quotation for any other securities we may offer and sell from time to time, the
prospectus supplement relating to those securities will disclose the exchange or market on which those securities will be listed or quoted.

Investing in our securities involves risks. You should carefully consider the risks described under “ Risk Factors” on page 4 of this prospectus, as well as the other information contained or incorporated by reference in