What You Need to Know
- Commercial individual enrollment rose 9.7%.
- Commercial group enrollment increased 4.6%.
- The number of life and disability members fell 6.6%.
Anthem Inc. — a giant health insurer — performed well in the third quarter, despite the effects of the COVID-19 delta variant surge on U.S. hospitalization rates.
For the third quarter, which ended Sept. 30, Anthem is reporting $1.5 billion in net income for on $36 billion revenue, up from $222 million in net income on $31 billion in revenue for the third quarter of 2020.
Health plan enrollment was up, and Medicare Advantage plan enrollment was up 31%.
Anthem’s results, and UnitedHealth’s strong third-quarter results, mean that U.S. health insurers continue to look as if they’ve gotten through the worst pandemic since the catastrophic 1918 flu pandemic without facing much financial impact.
Anthem holds the Blue Cross and Blue Shield licenses for Indiana, Ohio, New York and many other states.
Gail Boudreaux, the CEO of the Indianapolis-based company, said in a comment included in the earnings announcement that she believes that customers like Anthem’s products and that company has momentum.