Company: ELV
Filing Date: 2025-10-21
Form Type: 10-Q
Source: 0001156039-25-000136
Chunk: 97

Company: Elevance Health, Inc.
Filing Date: 2025-10-21
Form: 10-Q
Item: Item 2
Chunk 97
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)43.4 %(8,610)39.2 %Total operating revenue$50,087$44,719$148,273$130,215$5,368 12.0 %$18,058 13.9 %Operating Gain (Loss)Health Benefits$601$1,604$4,378$6,036$(1,003)(62.5)%$(1,658)(27.5)%CarelonRx5566191,6941,639(63)(10.2)%55 3.4 %Carelon Services2191841,11068235 19.0 %428 62.8 %Corporate & Other(81)(999)(292)(1,168)918 (91.9)%876 (75.0)%Total operating gain$1,295$1,408$6,890$7,189$(113)(8.0)%$(299)(4.2)%Operating MarginHealth Benefits1.4 %4.2 %3.5 %5.4 %(280) bp(190) bpCarelonRx5.1 %6.8 %5.3 %6.3 %(170) bp(100) bpCarelon Services3.0 %4.0 %5.2 %5.2 %(100) bp0 bpTotal operating margin2.6 %3.1 %4.6 %5.5 %(50) bp(90) bp

bp = basis point; one hundred basis points = 1%.

The following table summarizes the operating revenues for our Commercial, Medicare, Medicaid and FEP® lines of business within our Health Benefits segment for the three and nine months ended September 30, 2025 and 2024:

Three Months Ended  September 30Nine Months Ended  September 30Three Months Ended September 30Nine Months Ended September 30 2025 vs. 2024 Change2025 vs. 20242025202420252024$%$%Health Benefits Operating Revenue  Commercial 1$12,849$11,639$37,654$34,965$1,210 10.4 %$2,689 7.7 %  Medicare11,1389,38533,99027,7411,753 18.7 %6,249 22.5