8-KRegulation FD

Elevance Health, Inc. 8-K Report, Regulation FD Disclosure (Nov 29, 2018)

Filed November 29, 2018For Securities:ELV

Summary

This 8-K filing from Elevance Health, Inc. (formerly Anthem, Inc.) on November 29, 2018, primarily serves to update investors on full-year 2018 financial guidance. The company reaffirms its net income guidance, expecting it to be greater than $14.46 per share, with adjusted net income projected to be over $15.60 per share, excluding approximately $1.14 per share in net unfavorable items. This guidance remains consistent with figures previously reported in their third quarter earnings release. However, the company revised its medical membership guidance downwards. The anticipated year-end medical membership is now projected to be around 39.5 million, a decrease from previous expectations. This adjustment is attributed to the delayed launch of the Blue Cross Blue Shield of Minnesota Medicaid partnership, which is now scheduled for the first quarter of 2019. Despite this, the company reaffirmed all other full-year 2018 guidance metrics.

Key Highlights

  • 1Reaffirmation of full-year 2018 net income guidance (greater than $14.46 per share, with adjusted net income greater than $15.60 per share).
  • 2Reaffirmation of all other full-year 2018 guidance metrics, except for medical membership.
  • 3Downward revision of expected 2018 year-end medical membership to approximately 39.5 million.
  • 4Reason for membership revision: Delayed launch of Blue Cross Blue Shield of Minnesota Medicaid partnership to Q1 2019.
  • 5Updated membership breakdown: Fully insured expected around 14.2 million, self-funded around 25.3 million.
  • 6The information disclosed is intended for investor meetings occurring between November 29, 2018, and December 7, 2018.
  • 7The filing includes standard forward-looking statement disclaimers, highlighting various risks and uncertainties that could affect future performance.

Frequently Asked Questions

The primary purpose of this 8-K filing is to update investors on Elevance Health's (then Anthem, Inc.) full-year 2018 financial guidance, specifically reaffirming net income projections while revising medical membership expectations.

The medical membership guidance was lowered due to a delay in the launch of the Blue Cross Blue Shield of Minnesota Medicaid partnership, which is now expected to commence in the first quarter of 2019 instead of the previously anticipated timeframe.

The company now expects to end 2018 with approximately 39.5 million medical members. This is broken down into an estimated 14.2 million fully insured members and 25.3 million self-funded members.

No, this filing reaffirms the company's net income guidance for full-year 2018. Net income is expected to be greater than $14.46 per share, and adjusted net income is expected to be greater than $15.60 per share, excluding certain unfavorable items.