# Elevance Health **Elevance Health** (formerly **Anthem**, and before that WellPoint) is the largest for-profit health insurer in the Blue Cross Blue Shield system and one of the biggest U.S. payers by membership. It is a core exhibit in the **insurer wing** of the [[Healthcare Industry Ecosystem]]. ## Scale Elevance reported more than **$175 billion in revenue (2024)**, rising toward ~$197 billion in 2025, and covered roughly **45.7 million medical members** at the end of 2024. It operates the Anthem Blue Cross and Blue Shield plans across many states, the Wellpoint brand, and **Carelon** — its fast-growing services-and-pharmacy arm that mirrors the [[Vertical Integration]] strategy pioneered by [[UnitedHealth Group]]'s Optum. ## Why It Matters Here Elevance illustrates the **managed-care consolidation** at the heart of U.S. health financing: a handful of conglomerates now sit between patients, providers, and drugmakers. Its membership is heavily weighted toward [[Medicaid]] and commercial plans, which makes it acutely exposed to Medicaid redeterminations, [[Medicaid Work Requirements]], and coverage rollbacks — the same budget pressures that hit [[Safety-Net Hospital]] systems. The Carelon build-out shows the whole industry chasing the own-every-node model rather than competing on it. See [[Managed Care]] and [[Healthcare Industry Ecosystem]].