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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 Plunges on Profit Hit From Fall in Medicaid Memberships
Key Takeaways Elevance Health shares plunged Thursday after the insurer reported lower-than-expected earnings and cut its outlook as changes in Medicaid slashed membership rolls.The insurer's third-quarter Medicaid membership dropped 19% from a year ago on eligibility redeterminations and other changes to the program.
7h
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.
2d
on MSN
UnitedHealth's medical costs surge in third quarter, shares drop
UnitedHealth Group reported a surge in third-quarter medical costs on Tuesday, as the company struggled with lower government ...
10h
Harris backs slashing medical debt. Trump's "concepts" worry advocates.
Health care experts are calling on lawmakers — and the next occupant of the White House — to help the millions of Americans ...
2d
UnitedHealth Q3 EPS, Costs Both Rise
UnitedHealth Group reported increased revenue, but also noted some cyberattack challenges that ended up affecting full-year ...
Becker's Hospital Review
7h
Virtual care could cut US medical claims costs
Shifting care from in-person to virtual settings could reduce total
medical
claims spending by 2.3% to 3.1%, according to an Oct. 17 study from Solera Health. The research analyzed longitudinal ...
2d
Cost, access still barriers to medical care for Black Ohio women
A recent study recommended increases in Medicaid eligibility and other legislative measures to help improve health care ...
News Medical
12h
The hidden costs of outdated LIMS systems
However, the costs of maintaining manual or outdated LIMS systems far outweigh any perceived benefits of maintaining the ...
1d
Harris backs slashing medical debt. Trump’s ‘concepts’ worry advocates | Analysis
Medical debt is no longer a niche issue,” says one health-policy advocate. “It is key to the economic well-being of millions ...
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