Indianapolis-based Anthem upped its full-year adjusted net income outlook for 2016 from $10.80 per share to $11 per share.
The full-year adjusted net income outlook excludes net unfavorable items of $1.79 per share, according to the payer's Jan. 10 filing with the Securities and Exchange Commission.
Anthem said the increase in adjusted net income primarily reflects a retroactive change in minimum medical-loss radio calculation under California's Medicaid expansion. Anthem also reported it expects its 2016 year-end medical enrollment to total about 39.9 million, more than the company previously projected.
Anthem expects full-year 2016 net income to be approximately $9.21 per share.