Anthem Profits Double To $1 Billion On Pandemic Medicaid Growth

Anthem’s fourth quarter earnings doubled to $1.1 billion within the fourth quarter because of robust enrollment in its Medicaid plans which have drawn extra folks to such protection through the Covid-19 pandemic.

Anthem, which operates an array of presidency and business medical insurance together with Blue Cross and Blue Defend plans in 14 states, Wednesday reported fourth quarter profits of $1.1 billion, or $4.63, in comparison with $551 million, or $2.19 within the 12 months in the past quarter. Income rose practically 15% to $36.58 billion.

Anthem’s membership grew by 2.4 million, or 5.7%, to 45.4 million as of Dec. 31, 2021 in comparison with a 12 months in the past. “Through the fourth quarter of 2021, medical enrollment elevated sequentially by 303 thousand pushed by natural development within the Medicaid enterprise, and development in business risk-based and fee-based membership,” the corporate mentioned in reporting its fourth quarter earnings.

Well being insurers like Anthem enroll low earnings Individuals into personal Medicaid plans through contracts with states. Medicaid is one among Anthem’s greatest companies, rising by 20% within the fourth quarter to 10.6 million enrollees on the finish of 2021 from 8.8 million within the year-ago quarter.

Income in Anthem’s authorities enterprise that features Medicaid rose practically 17% to $21.9 billion within the fourth quarter in comparison with $18.7 billion a 12 months in the past.