Elevance Health slashes profit forecast on persistently high medical costs
Elevance Health cut its annual profit expectation on Thursday due to increased medical costs in its government-backed plans, becoming the latest U.S. insurer to take a hit from high demand for healthcare services.
Elevance Health Latest Insurer Battered By Higher Medical Costs
Elevance Health is the latest health insurance company to report higher-than-expected medical costs as third quarter profits tumbled more than 20%.
Ballooning Medicaid costs challenge health insurer Elevance
On Thursday, Elevance Health disclosed in its third quarter earnings release that its medical loss ratio — the amount of premium revenue it spent on medical care — was markedly higher than Wall Street analysts expected, sending its stock price into a tailspin.
Elevance Health cuts annual profit forecast on persistently higher medical costs
Elevance Health cut its full-year profit forecast on Thursday, as it expects to pay out more in claims due to robust demand for medical care from members in its government-backed plans, sending its shares down 6% in premarket trading.
Elevance Shares Dive After Insurer Faces ‘Unprecedented’ Medicaid Challenge
It was the latest sign of how medical expenses are squeezing insurers’ earnings, a result likely to punish shares across the sector.
Elevance Health’s stock tumbles as profit dented by ‘unprecedented’ Medicaid challenges
We remain confident in the long-term earnings potential of our diverse businesses as we navigate a dynamic operating environment and unprecedented challenges in the Medicaid business,” Chief Executive Gail K.
Elevance Health stock slides after outlook cut amid rising medical expenses
Elevance Health (ELV) shares fall 12% as full-year earnings forecast is lowered due to high medical expenses, impacting the managed care industry.
Don't pay your medical bills in America without taking these 3 steps first — ignoring them could cost you thousands
Before paying medical bills, follow these essential steps, like requesting an itemized bill to save on hidden costs.
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