The post Elevance Health’s Profits Eclipse $1.1 Billion Despite Rising Costs appeared on BitcoinEthereumNews.com. Elevance Health Tuesday said third quarter net income rose to nearly $1.2 billion despite rising costs in its government subsidized health insurance plans, the company announced Oct. 21, 2025. Elevance Health Elevance Health Tuesday said third quarter net income rose to nearly $1.2 billion despite rising costs in its government subsidized health insurance plans. Elevance, which is the nation’s second largest health insurer behind UnitedHealth Group’s UnitedHealthcare, is best known for its operation of Anthem brand Blue Cross and Blue Shield plans in 14 states. In addition, Elevance manages Medicaid via contracts with multiple states and also sells individual coverage under the ACA known as Obamacare. The company also has a growing Carelon healthcare services business. Like many of its rival health insurers, the company has been battling rising medical expenses from customers in its health plans. Tuesday’s results reflected costs that are still up, but largely in check with the company calling them “elevated, but expected.” Net income rose 17.8% to $1.18 billion in the third quarter ended Sept. 30 compared to $1 billion in the year ago period. Total revenues were up 12.4% to $50.7 billion Like other health insurance plans, Elevance is seeing higher benefits expenses, reporting that its benefit expense ratio, which is the percentage of premium revenue that goes toward medical costs, was 91.3 percent, “an increase of 180 basis points year over year, reflecting elevated, but expected, cost trend primarily in our Medicare business given pronounced seasonality in Part D (drug plan) benefits associated with changes made in the Inflation Reduction Act.” In the second quarter, the benefit expense ratio was 88.9% and in the first quarter it was 86.4%, according to earnings reports earlier this year. “Our third quarter results were in line with expectations and reflect disciplined execution across Elevance Health,” Elevance… The post Elevance Health’s Profits Eclipse $1.1 Billion Despite Rising Costs appeared on BitcoinEthereumNews.com. Elevance Health Tuesday said third quarter net income rose to nearly $1.2 billion despite rising costs in its government subsidized health insurance plans, the company announced Oct. 21, 2025. Elevance Health Elevance Health Tuesday said third quarter net income rose to nearly $1.2 billion despite rising costs in its government subsidized health insurance plans. Elevance, which is the nation’s second largest health insurer behind UnitedHealth Group’s UnitedHealthcare, is best known for its operation of Anthem brand Blue Cross and Blue Shield plans in 14 states. In addition, Elevance manages Medicaid via contracts with multiple states and also sells individual coverage under the ACA known as Obamacare. The company also has a growing Carelon healthcare services business. Like many of its rival health insurers, the company has been battling rising medical expenses from customers in its health plans. Tuesday’s results reflected costs that are still up, but largely in check with the company calling them “elevated, but expected.” Net income rose 17.8% to $1.18 billion in the third quarter ended Sept. 30 compared to $1 billion in the year ago period. Total revenues were up 12.4% to $50.7 billion Like other health insurance plans, Elevance is seeing higher benefits expenses, reporting that its benefit expense ratio, which is the percentage of premium revenue that goes toward medical costs, was 91.3 percent, “an increase of 180 basis points year over year, reflecting elevated, but expected, cost trend primarily in our Medicare business given pronounced seasonality in Part D (drug plan) benefits associated with changes made in the Inflation Reduction Act.” In the second quarter, the benefit expense ratio was 88.9% and in the first quarter it was 86.4%, according to earnings reports earlier this year. “Our third quarter results were in line with expectations and reflect disciplined execution across Elevance Health,” Elevance…