Anthem Details 30 Percent Quarterly Profit Jump
(Image courtesy of Anthem Inc.)
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based Anthem Inc. (NYSE: ANTM) is reporting first quarter net income of $1.3 billion, compared to $1 billion during the same quarter a year ago. The insurer says it has boosted its 2018 adjusted net earnings outlook to be greater than $15.30 per share.
Anthem says the shrinking footprint of the federal Affordable Care Act marketplace helped drive a decrease in medical enrollments. Full-year enrollment totals stand at approximately 39.6 million and are expected to increase to between 40.1 million and 40.3 million by year’s end.
Chief Executive Officer Gail Boudreaux says "we are pleased with our first quarter 2018 financial performance, which reflects our commitment to strong medical cost performance by effectively leveraging community based innovative and integrated clinical and value based care models across our markets. Throughout 2018, we are prioritizing investments to create a more flexible infrastructure that can quickly respond to the evolving needs of our customers and the changing healthcare environment. We are also driving an increased focus on executional excellence across the organization. I see further opportunity for Anthem as we continue to unlock the full potential of our company to deliver consistently strong financial performance and future growth."
During the fourth quarter, Anthem completed its acquisition of Florida-based HealthSun, a Medicare Advantage provider. You can connect to the full results by clicking here.