Apr 21, 2021,08:54am EDT
Bruce Japsen Senior Contributor
Anthem’s membership grew by more than
1 million in the first quarter thanks to a big increase in enrollment in its
Medicaid and Medicare Advantage plans, the company
disclosed Wednesday.
Anthem, which operates an array of
health plans including Blue Cross and Blue Shield insurers in 14 states, Wednesday
reported first quarter profits rose by 9% to $1.6 billion, or
$6.71 per share, compared to $1.5 billion, or $5.94 in the year ago quarter.
Revenue rose 9% to $32.4 billion.
"Our results in the first
quarter reflect strong execution and a continued focus on supporting our
communities through the pandemic," Anthem chief executive Gail Boudreaux
said.
Anthem ended the first quarter with
43.5 million members, which was up 3%, or 1.4 million from the year-ago period,
largely driven by the insurer’s government business.
“Government business enrollment
increased by 1.8 million lives compared to the prior year quarter, attributable
to Medicaid, reflecting organic growth, aided by the temporary suspension of
eligibility recertification efforts in our markets, and growth in Medicare
Advantage,” the company said in its first quarter earnings statement.
The boost in government business
offset a dip in commercial membership.
Still, Anthem expects the company’s
diverse portfolio and growth to continue through 2021 and boosted the insurer’s
earnings guidance for the rest of the year. "We expect the
positive momentum in the first quarter to persist through the balance of the
year,” Boudreaux said.
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