Enrollment gains help Elevance Health top 3Q forecasts

The Associated Press

Growing Medicaid enrollment pushed one of the biggest U.S. health insurers, Elevance Health, to a better-than-expected third quarter and a higher forecast for the year. The Blue Cross-Blue Shield insurer said Wednesday that enrollment in Medicaid, a state and federally funded program for people with low incomes, climbed nearly 9% in the quarter to 11.3 million. The insurer also booked gains in investment income, and employer-sponsored coverage growth helped total enrollment rise past 47 million people.  Overall, Elevance’s profit rose 7% to $1.62 billion in the quarter.