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Elevance Health stock slides
Elevance Health Stock Plunges on Profit Hit From Fall in Medicaid Memberships
Key Takeaways Elevance Health shares plunged Thursday after the insurer reported lower-than-expected earnings and cut its outlook as changes in Medicaid slashed membership rolls.The insurer's third-quarter Medicaid membership dropped 19% from a year ago on eligibility redeterminations and other changes to the program.
Ballooning Medicaid costs challenge health insurer Elevance
On Thursday, Elevance Health disclosed in its third quarter earnings release that its medical loss ratio — the amount of premium revenue it spent on medical care — was markedly higher than Wall Street analysts expected, sending its stock price into a tailspin.
Elevance Health’s stock slumps 13% as profit dented by ‘unprecedented’ Medicaid challenges
We remain confident in the long-term earnings potential of our diverse businesses as we navigate a dynamic operating environment and unprecedented challenges in the Medicaid business,” Chief Executive Gail K.
Elevance Makes a Late Cut to Its 2024 Forecast
Elevance makes a late cut to its 2024 forecast after seeing trouble in Medicaid
Shares of
Elevance
tumbled early Thursday after the insurer said rising
Medicaid
costs prompted a 2024 forecast cut less than three months before the year’s end. The Blue Cross-Blue Shield insurer said it was dealing with a “timing mismatch” between ...
Elevance makes late cut to 2024 forecast
Elevance Health surprised Wall Street with a rare, late-year guidance cut Thursday after a jump in Medicaid costs marred its third quarter. Shares of the Blue Cross-Blue Shield insurer tumbled
Elevance Tumbles On Forecast Cut, Third-Quarter Earnings Miss
Elevance Health Inc. shares sank in early trading after the insurer cut its outlook for the year and reported third-quarter profit below Wall Street expectations, citing insufficient payments from Medicaid.
1h
on MSN
S&P 500 Gains and Losses Today: Health Insurers Slide as Elevance Cites Medicaid Declines
Key Takeaways The S&P 500 was essentially flat on Thursday, Oct. 17, closing less than 0.1% lower despite strong retail sales ...
Zacks.com on MSN
2h
Elevance Health's Q3 Earnings Miss Due to Medicaid Redeterminations
ELV's third-quarter earnings are hurt by declining membership in Medicaid and Medicare, partially offset by improved product ...
Seeking Alpha
2h
Elevance Health: A Bad Q3 Was Almost Inevitable Given Industry Headwinds
Elevance
Health's Q3 earnings report led to a 14% stock price drop due to increased benefit expense ratio and declining EPS ...
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