The rebranding of Anthem Health Insurance to Elevance Health will include the new Carelon name for health services and the return of Wellpoint for some government-subsidized health insurance products.
Anthem, which officially becomes Elevance Health on June 28, said Wednesday that the new names “will optimize and streamline the company’s brand portfolio, reduce complexity and further highlight its evolution to provide solutions beyond traditional health insurance, simplifying healthcare. “Experiencing and improving health beyond healthcare,” the company said Wednesday.
The changes mean the following:
· The corporate name is being changed from Anthem to Elevance Health, as previously announced.
· Health services, including IngenioRx’s subsidiary, become Carelon’s operations. Thus PBM will be known as CarelonRx.
· The 14 Anthem Blue Cross Blue Shield plans in 14 states retain the Anthem and Blue brands
· In selected markets, non-Blue Cross plans, such as insurance products Medicare and Medicaid, adopt the name Wellpoint, which used to be the corporate name of the entire company until December 2014.
“An important part of being a trusted lifelong health partner is based on our ability to ensure that consumers have access to services that meet their overall health needs throughout their health care career,” said Anthem Gale, President and CEO. Budro. “Adding our new brands to our family of companies will bring together services and products within their respective brands that further integrate our business and healthcare industry experience to address complex challenges and improve consumer lives.
Corporate rebranding – the second for the company in less than a decade when the mother’s name was changed in 2014 from Wellpoint to Anthem – is made to reflect the company’s business and operations, which have changed dramatically during Boudreaux’s four years of management. She has designed several acquisitions, invested heavily in digital consumer engagement opportunities, and oversaw the launch of her health insurance pharmacy benefits management company, IngenioRx.
On June 28, the name of the new holding company Elevance Health will become official when the company’s executives ring the bell at the opening of the New York Stock Exchange and the shares “begin to trade under the new ELV symbol,” the company said.
Anthem, which manages a range of government and commercial health insurance, including the Blue Cross and Blue Shield plans in 14 states, is the second largest provider of health benefits in the country after UnitedHealthcare of the UnitedHealth Group.
Increasingly, health insurers place the health services they own under a different umbrella and brand, even when working, to provide health plan clients and employers’ clients with more coordinated care.
UnitedHealth Group, for example, owns Optum’s healthcare business with a number of outpatient providers and medical practices, while the large drugstore chain CVS Health owns pharmacies and retail health clinics with health insurer Aetna. And two years ago, Cigna created Evernort, placing its services to healthcare providers and the Express Scripts pharmacy management company under Evernorth’s umbrella.
In the case of Anthem, the health insurer “will fully transfer its capabilities and services under the Carelon brand over the next two years,” the company said. Carelon’s name comes from the word ‘care’ and the suffix ‘lon’, which means ‘full and complete’, which means ‘the importance of providing complete and complete care’, “Anthem executives said.
Carelon makes connected care possible for everyone by putting people at the center of what we do, and provides the right balance between care, technology-based insights and experience to solve complex challenges, and helps consumers lead healthier lives Pete Haitian, Anthem’s executive vice president and president of Carelon, who the company said serves every three people in the United States. care, consumers and our other partners. ”