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American Focus > Blog > Health and Wellness > Elevance Health Bolsters Employer Insurance Business
Health and Wellness

Elevance Health Bolsters Employer Insurance Business

Last updated: February 17, 2025 5:36 pm
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Elevance Health Bolsters Employer Insurance Business
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Elevance Health recently announced its acquisition of Verily’s Granular Insurance Company, a move aimed at enhancing its services for self-funded employer clients. The financial details of the transaction have not been disclosed by Elevance.

Elevance Health, known for operating Anthem brand Blue Cross and Blue Shield health plans in 14 states, serves a wide range of regional and national employer clients. The addition of Granular Insurance Company to its portfolio is set to strengthen its offerings in the self-funded employer market segment.

Granular Insurance Company, established in 2020, specializes in providing stop-loss, reinsurance, and fronting solutions for self-funded employers and captives. Under stop-loss policies, the insurer assumes responsibility for losses exceeding predetermined limits agreed upon with the employer’s self-funded policy.

In a statement regarding the acquisition, Elevance Health expressed its intention to integrate Granular’s technology and data-driven insights to enhance its healthcare cost management solutions for self-funded employers. This strategic move aligns with Elevance’s commitment to expanding its capabilities and expertise in the healthcare insurance industry.

The acquisition comes at a critical time for health insurers like Elevance, facing challenges such as rising costs and a decline in health plan membership, particularly in Medicaid coverage for low-income individuals. Elevance Health reported a decrease in health plan members in 2024, primarily attributed to a drop in Medicaid enrollment.

The conclusion of the U.S. Public Health Emergency in May 2023 following the COVID-19 pandemic has had repercussions for health insurers administering Medicaid coverage. Medicaid redeterminations, which require individuals to demonstrate eligibility for coverage, have contributed to potential reductions in Medicaid enrollment.

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There are concerns that Medicaid cuts proposed by political figures like Donald Trump and Republican lawmakers could lead to further reductions in health benefits for vulnerable populations. This has implications for insurers like Elevance operating in the government-subsidized health coverage sector.

Despite challenges in the government-subsidized coverage market, Elevance’s employer offerings are experiencing growth. The company’s medical membership saw a 2% decrease in 2024, primarily due to attrition in the Medicaid business offset by growth in Employer Group fee-based and Affordable Care Act health plan membership.

Overall, Elevance Health’s acquisition of Granular Insurance Company reflects its strategic vision to enhance its services for self-funded employer clients and navigate the evolving landscape of the healthcare insurance industry.

TAGGED:bolstersBusinessElevanceEmployerHealthInsurance
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