Company: ELV
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0001156039-25-000057
Chunk: 57

Company: Elevance Health, Inc.
Filing Date: 2025-04-22
Form: 10-Q
Item: Item 8
Chunk 57
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6.9 9.0 %Carelon Services Consumers Served99.5 102.9 (3.4)(3.3)%

1    BlueCard® membership at March 31, 2024 has been restated lower by 190 to align to our current reporting, which is the BCBSA reporting methodology.

2    We are no longer presenting our Life and Disability membership following the sale of that business on April 1, 2024.

Medical Membership

The decrease in medical membership was primarily driven by attrition in Medicaid membership, including as a result of eligibility redeterminations and certain market exits, and decreases in our Commercial Fee-Based business. These decreases were partially offset by increases in our Medicare Advantage and Individual ACA businesses. 

Other Membership

Our other membership has the potential to be impacted by changes in our medical membership, as our medical members often purchase our other products that are ancillary to our health business. Dental membership increased primarily due to favorable sales in our Employer Group business. Dental administration membership increased primarily due to favorable in-group change with other BCBSA plans associated with FEP®. Vision membership increased due to higher sales in our Employer Group, Medicare Advantage, and Individual health plans.

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Consolidated Results of Operations

Our consolidated summarized results of operations and other financial information for the three months ended March 31, 2025 and 2024 are as follows: 

Three Months Ended  March 31ChangeThree Months Ended March 312025 vs. 202420252024$%Total operating revenue$48,765$42,273$6,492 15.4 %Net investment income590465125 26.9 %Net losses on financial instruments(464)(161)(303)188.2 %Total revenues$48,891$42,577$6,314 14.8 %Benefit expense35,31230,5464,766 15.6 %Cost of products sold4,9833,8251,158 30.3 %Operating expense5,3004,886414 8.5 %Other expense1 499381118 31.0 %Total expenses46,09439,6386,456 16.3 %Income before income tax expense2,7972,939(142)(4.8)%Income tax expense613690(77)(11.2)%Net income$2,184$2,249