Company: ELV
Filing Date: 2025-06-24
Form Type: 11-K
Source: 0001156039-25-000106
Chunk: 5

Company: Elevance Health, Inc.
Filing Date: 2025-06-24
Form: 11-K
Chunk 5
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 from other plans are subject to certain conditions to be eligible for rollover into the Plan.

#### 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).

Under the Predecessor Plan, matching contributions were 100% vested after completing three years of service.

#### 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 (added in March 2024), which is provided for in the Plan document and overseen by an independent fiduciary. 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 Withdrawals
A participant may make a withdrawal from any after-tax contributions made to the Predecessor Plan for any reason, including income attributable to such account. After attaining age 59½, a participant may withdraw participant and Plan Sponsor matching contributions for any reason.

Subject to the provisions and conditions specified in the Plan document, an active participant in the Plan may make certain hardship withdrawals of amounts held in the participant’s account attributable to the participant’s contributions, vested Plan Sponsor matching contributions, rollovers, pre-2006 employer match, and income allocated to the contributions account.

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#### Elevance Health Puerto Rico Retirement Plan

### Notes to