Anthem's third quarter earnings report demonstrated an uptick in revenue and raised its outlook for the third time this year.
Here are five things to know:
1. The insurer recorded $1.51 billion in profits, anchored by an 16 percent increase in operating revenue to $35.5 billion.
2. Anthem's third quarter profits represent a 579.7 percent increase over their 2020 third quarter profits. Expense growth (10 percent) couldn't meet revenue growth, with selling, general and administrative expenses notably dropping 25.6 percent to $3.9 billion.
3. The results increased the company's 2021 outlook to surpass $25.85 per share, up from the $25.50 per share previously forecasted.
4. Anthem reported an increase in 2.4 million lives covered compared to third quarter 2021. About 730,000 lives alone came largely from HealthyBlue in North Carolina's launch, as well as Medicaid and commercial risk-based business growth this quarter.
5. Government business enrollment was up 2.3 million lives. Commercial and specialty business saw the lowest growth over last year, at an increase of 162,000 lives.