S&P 500 Index Component
|Industry||Managed health care|
|Founded||Anthem and WellPoint Health Networks merger in 2004|
|Headquarters||Indianapolis, Indiana, United States|
Elizabeth E. Tallett (
Gail Koziara Boudreaux ( President & CEO)
|Revenue||US$92.105 billion (2018) |
|US$5.068 billion (2018) |
|US$3.750 billion (2018) |
|Total assets||US$71.571 billion (2018) |
|Total equity||US$28.541 billion (2018) |
Number of employees
|~63,900 (December 2018) |
|Footnotes / references|
Anthem, Inc., is a provider of health insurance in the United States. It is the largest for-profit managed health care company in the Blue Cross Blue Shield Association. As of 2018, the company had approximately 40 million members. 
Prior to 2014, it was named WellPoint, Inc.   The company was formed by the 2004 merger of WellPoint, based in California, and Anthem, based in Indianapolis, after both companies acquired several health insurance companies.
The company operates as Anthem Blue Cross in California, where it has about 800,000 customers and is the largest health insurer. It operates as Empire BlueCross BlueShield in New York State and as Anthem Blue Cross and Blue Shield in 10 states. 
In 1946, Anthem began in Indianapolis, Indiana, as Mutual Hospital Insurance Inc. and Mutual Medical Insurance Inc. The companies grew significantly, controlling 80% of the medical insurance market in Indiana by the 1970s. 
In 1972, The two firms, then known as Blue Cross of Indiana and Blue Shield of Indiana, entered into a joint operating agreement. 
In 1989, The Associated Group founded Acordia, a brokerage that sold and serviced insurance and employee benefit programs. 
In 1993, Acordia acquired American Business Insurance for $130 million  and the Federal Kemper Insurance Company for $100 million.  The Associated Group bought Southeastern Mutual Insurance Company, the operator of Blue Cross and Blue Shield of Kentucky. 
In 1995, The Associated Group acquired Community Mutual Insurance, a provider of Blue Cross and Blue Shield insurance plans in Ohio with over 1.9 million policy holders), then set up Anthem Blue Cross and Blue Shield.  
In 1996, The Associated Group changed its name to Anthem Insurance Company. 
In 1999, Anthem acquired Blue Cross and Blue Shield of New Hampshire and Blue Cross and Blue Shield of Colorado and Nevada. The acquisitions made since 1996 added 850,000 policy holders. Among its customer base were 2.4 million PPO and 964,000 HMO enrollees. 
In 2001, In October, Anthem underwent demutualization and became a public company via an initial public offering, which made it the 4th largest public managed health care company in the United States. 
In 2002, Anthem acquired Trigon Healthcare of Virginia, a Blue Cross and Blue Shield plan, the largest insurer in Virginia, for $4.04 billion. Anthem Insurance Company reached 11.9 million members. 
Blue Cross of California was the predecessor of WellPoint Health Network Inc.
In 1982, Blue Cross of California was founded with the consolidation of Blue Cross of Northern California (established in 1936) and Blue Cross of Southern California (established in 1937). 
In 1992, WellPoint was formed to operate Blue Cross of California's managed care business. 
In January 1993, Blue Cross of California spun off its managed care business into a publicly traded entity, WellPoint Health Networks Inc. Blue Cross of California retained an 80% interest and voting control.  
In April 1996, WellPoint completed its acquisition of Massachusetts Mutual Life Insurance Company's group life and health insurance subsidiaries for approximately $380 million, making it the second largest publicly held managed health company in the U.S. with 4 million policy holders. 
In March 1997, WellPoint acquired the group health and life businesses of John Hancock Financial for $86.7 million. With this acquisition, WellPoint expanded its presence into Michigan, Texas, and the mid-Atlantic, and gained a unit that concentrated on serving the needs of large employers. 
In 2000, WellPoint acquired PrecisionRx, a mail service pharmacy fulfillment center in Texas. 
In 2001, Wellpoint offered to acquire CareFirst BlueCross BlueShield for $1.37 billion, including $119 million in bonuses to Carefirst executives.  In 2003, the offer was rejected by the Maryland insurance commissioner. 
In March 2001, WellPoint acquired Rush Prudential Health Plans, a Chicago provider, for $204 million.  In March 2001, WellPoint acquired Cerulean Companies, the parent company of Blue Cross Blue Shield of Georgia. 
In November 2004, Wellpoint, Inc. was formed by the merger of Anthem Insurance Company and WellPoint Health Networks Inc. The merger was structured as Anthem acquiring WellPoint Health Networks and renaming itself WellPoint, Inc. WellPoint continued to use 'Anthem' as the brand name under which it operated. It sold its Blue Cross and Blue Shield products in 11 states.  
In 2005, WellPoint acquired Alexandria, Va.–based Lumenos, a provider of consumer-driven health care, for $185 million.  Lumenos was the pioneer and market leader in consumer-driven health plans. In December, WellPoint acquired WellChoice, a New York City-based Blue Cross Blue Shield provider, for approximately $6.5 billion,  making New York the 14th state in which WellPoint is a Blue Cross Blue Shield licensee.
In 2007, WellPoint acquired Chicago-based American Imaging Management, a radiology benefit management company that creates software to help physicians choose cost-effective locations for their patients to receive medical imaging tests.  WellPoint also acquired Chicago based American Imaging Management (AIM), the leading radiology benefit management company.
In January 2008, Leslie Margolin became the president of California operations. She resigned in July 2010. 
In 2008, WellPoint acquired Resolution Health, a firm that analyzes patient history for potential medical problems such as adverse drug interactions. 
In 2009, WellPoint acquired DeCare Dental, a dental insurance firm. 
On August 13, 2014, WellPoint announced it intended to change its name to Anthem, Inc., effective in December. 
In February 2015, the company acquired Simply Healthcare Holdings, a Medicaid and Medicare managed care company based in Florida. 
In October 2017, Anthem announced that it would not renew its pharmacy benefit management relationship with Express Scripts saying it had been overcharged $3 billion and that instead, Anthem would eventually handle the PBM process itself through its new IngenioRx unit. Anthem announced that it would enter a 5-year contract with CVS Health.  Cigna then announced plans in March 2018 to acquire Express Scripts for $58 billion. 
In 2018, the company announced a $20 million expansion of its headquarters and the signing of a lease in Atlanta for its technology center. 
In March 2020, Anthem announced the acquisition of Beacon Health Options, and independently held behavioral health organization. 
In 2011, in the category of "Meeting National Standards of Care," California's state patient advocacy office gave Anthem a rating of 2 out of 4 stars.  In 2014, it received 3 out of 4 stars in the same category. 
In 2007, WellPoint pledged to spend $30 million over three years, through the company's charitable foundation, to help the uninsured. In March 2010, the Los Angeles Times reported that WellPoint's tax records and website showed that the company gave only $6.2 million by 2009. The company disputed that, saying that the foundation did fulfill its $30-million commitment by mid-2009, but the company declined to provide any financial details to support its claim. 
In 2007, the California Department of Managed Health Care (DMHC) investigated Anthem's policies for revoking (rescinding) health care insurance policies. The DMHC randomly selected 90 instances where Anthem canceled the insurance of policy holders who had been diagnosed with costly or life-threatening illnesses, to find how many of these cancellations were legal. The agency concluded that all these cancellations were illegal.  
In July 2008, Anthem Blue Cross agreed to a settlement with the California Department of Managed Health Care; however in doing so, WellPoint did not officially admit liability. To resolve allegations of improper policy rescissions (cancellations), WellPoint paid $10 million and reinstated plans for 1,770 policy-holders who were affected by cancelled policies. The company also agreed to provide compensation for any medical debts incurred by these policy-holders. 
In April 2010, Reuters alleged that Wellpoint "using a computer algorithm, identified women recently diagnosed with breast cancer and then singled them out for cancellation of their policies."  The story not only caused considerable public outrage, but it also led Secretary of Health and Human Services, Kathleen Sebelius, and President Barack Obama, to call on WellPoint to end the practice. 
The former Vice President for Public Policy and External Affairs at WellPoint, Elizabeth Fowler, is the Senior Counsel to Max Baucus, the chairman of the Senate Finance Committee and a leading opponent of the public option in health care reform.
In August 2009, Anthem, the largest for-profit insurer in California, contacted its employees and urged them to get involved to oppose Health care reforms proposed during the Obama administration. Consumer Watchdog, a nonprofit watchdog organization in Santa Monica, asked California Atty. Gen. Jerry Brown to investigate its claim that WellPoint had illegally pushed workers to write to their elected officials, attend town hall meetings and enlist family and friends to ensure an overhaul that would match the firm’s interests. According to Consumer Watchdog, California's labor code directly prohibits coercive communications, including forbidding employers from controlling, coercing or influencing employees' political activities or affiliations. WellPoint had not been contacted by the California attorney general and had not seen any complaint. 
In 2009, Anthem Health Plans of Maine, a WellPoint subsidiary, sued the state of Maine for the right to increase premiums further.  Since Maine licenses insurance companies through its Department of Insurance, Anthem needed the state's permission to raise rates.  The Court disagreed with Anthem and found that, unlike with other forms of insurance, the Maine Insurance Code does not require the Superintendent to consider profits. 
In February 2010, WellPoint announced that rates would increase on some Anthem Blue Cross individual policies in California by as high as 39%. The announcement resulted in an investigation by regulators from the Federal and California governments.  Anthem Blue Cross gained worldwide media attention and became a poster child for the problem of rising cost of health care in the U.S.  The rate increase came one year after Anthem had raised rates 68% on individual policy holders. 
To explain the rate increases, some which were four times the rate of medical inflation, Anthem said the company had experienced a death spiral: the company claimed that with increased unemployment and declining wages, healthy customers dropped their insurance policies. Consequently, the remaining risk pool became sicker and thus more expensive to insure; and, in turn, prices were forced up and pushed more people out of the market. 
In response to the outrage from politicians and consumers, Anthem postponed the rate increase until May 1, 2010. 
On 17 March 2010, WellPoint announced it was reclassifying some of its administrative costs as medical care costs in order to meet loss ratio requirements under the Patient Protection and Affordable Care Act, which requires insurers to spend at least 80% or 85% of customer premiums on health care services, depending on the type of plan. 
In June 2010, Anthem sent letters to 230,000 customers in California warning them that their personal data might have been accessed online via a data breach. After a routine upgrade in October 2009, a third-party vendor stated that all security measures had been properly reinstated, when in fact they had not. As a result, personal information of thousands of coverage applicants who were under the age of 65 was exposed in the open. After a Los Angeles-area woman found that her application for coverage was publicly available, she filed a class action lawsuit against Anthem. While gathering evidence for the proceeding, the woman's lawyers downloaded some confidential customer information from Anthem's website and alerted Anthem about the breach. According to the lawyers, confidential information had remained exposed for five months. 
In May 2014, Anthem Blue Cross refused to pay for the hospitalization of a Sonoma County, California man for stage four cancers, although he had paid Anthem over $100,000 in premiums.   Anthem ended up paying for coverage following public outcry. 
On February 4, 2015, Anthem, Inc. disclosed that criminal hackers had broken into its servers and potentially stolen over 37.5 million records that contain personally identifiable information from its servers. According to Anthem, Inc., the data breach extended into multiple brands Anthem, Inc. uses to market its healthcare plans, including, Anthem Blue Cross, Anthem Blue Cross and Blue Shield, Blue Cross and Blue Shield of Georgia, Empire Blue Cross and Blue Shield, Amerigroup, Caremore, and UniCare.  Healthlink was also victimized. Anthem says the medical information and financial data was not compromised. Anthem has offered free credit monitoring in the wake of the breach.  According to Bloomberg News, China may be responsible for this data breach. Michael Daniel, chief adviser on cybersecurity for President Barack Obama, said he would be changing his own password.  About 80 million company records were hacked, stoking fears that the stolen data could be used for identity theft.  The compromised information contained names, birthdays, medical IDs, social security numbers, street addresses, e-mail addresses, employment information and income data.  In 2019, two Chinese nationals were indicted for the breach.   
For the fiscal year 2017, Anthem reported earnings of US$3.843 billion, with an annual revenue of US$90.039 billion, an increase of 6.1% over the previous fiscal cycle. Anthem's shares traded at over $183 per share, and its market capitalization was valued at over US$69.1 billion in October 2018. 
in mil. USD$
in mil. USD$
in mil. USD$
|Price per Share
- "Anthem, Inc. Annual Report (Form 10-K)". last10k.com. U.S. Securities and Exchange Commission. February 2019.
- "Anthem, Inc. 2018 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- "Fortune 500 Companies 2018: Who Made the List". Fortune.
- Matthews, Anna Wilde (August 12, 2014). "WellPoint Changes Its Name to Anthem". The Wall Street Journal.
- "Health Insurer WellPoint Switches Name to Anthem". San Diego Union Tribune. Associated Press. December 3, 2014.
- "Anthem: Companies". Anthem.
- Brennan, Gerald; David E. Salamie (2009). Jay P. Pederson (ed.). "WellPoint, Inc". 103. International Directory of Company Histories. pp. 505–514.
- "Agreement documents" (PDF). WSJ.
- "IN THE MATTER OF THE ACQUISITION OF CONTROL OF WELLCHOICE INSURANCE HEARING OFFICER'S OF NEW JERSEY, INC. BY WELLPOINT, INC. REPORT AND WELLPOINT HOLDING CORP" (PDF). STATE OF NEW JERSEY DEPARTMENT OF BANKING AND INSURANCE.
- Andrews, Greg (July 24, 2015). "FROM THE ARCHIVES: Anthem's path from laggard to leader". American City Business Journals.
- Sekhri, Rajiv (February 17, 1997). "Acordia/Rauh placed on auction block for third time". American City Business Journals.
- "Company news; kemper insurance unit to be sold for $100 million". The New York Times. Bloomberg News. November 24, 1993.
- "Indiana, Kentucky 'Blues' to merge". United Press International. March 26, 1993.
- "National City Acquisition". The New York Times. Reuters. December 8, 1994.
- Curtis, Richard (November 9, 1998). "Anthem looking at mergers". American City Business Journals.
- FEDER, BARNABY J. (May 30, 1996). "Anthem's Strategy: Bigger the Better". The New York Times.
- LEVICK, DIANE (August 2, 1997). "BLUE CROSS, ANTHEM MERGE". Hartford Courant.
- "ACORDIA MANAGERS IN $330 MILLION DEAL TO BUY OUT FIRM". The New York Times. Dow Jones & Company. August 5, 1997.
- "COMPANY NEWS; ANTHEM AGREES TO BUY BLUE CROSS OF NEW HAMPSHIRE". The New York Times. Associated Press. January 29, 1999.
- "Anthem to acquire Blue Cross and Blue Shield of Maine". American City Business Journals. July 13, 1999.
- Gordon, Jennifer (November 5, 2001). "Anthem's IPO well received; stock trades heavily". American City Business Journals.
- Clabaugh, Jeff (November 4, 2002). "Trigon acquisition benefits Anthem". American City Business Journals.
- SHIVER Jr., JUBE (September 9, 1985). "Merger Has Led to Strife at Blue Cross". Los Angeles Times.
- Sidel, Robin; Rundle, Rhonda (October 27, 2003). "Anthem to Acquire WellPoint Health". The Wall Street Journal.
- "WellPoint Health Network Inc". Anthem.
- "WellPoint goes public, investors positive". United Press International. January 28, 1993.
- Terhune, Chad (March 18, 2015). "With billions in the bank, Blue Shield of California loses its state tax-exempt status". Los Angeles Times.
- "MASSMUTUAL TO SELL GROUP LIFE, HEALTH UNIT". Hartford Courant. January 10, 1996.
- OLMOS, DAVID R. (October 11, 1996). "WellPoint Buys Unit of John Hancock". Los Angeles Times.
- Murphy, Barbara (March 14, 2000). "WellPoint to Acquire Pharmaceutical Facility". Los Angeles Times.
- Graham, Scott (November 21, 2001). "WellPoint to acquire CareFirst BlueCross BlueShield". American City Business Journals.
- Page, Leigh (March 6, 2003). "Maryland insurance commissioner rejects WellPoint acquisition of CareFirst". Modern Healthcare.
- MURPHY, BARBARA (March 14, 2000). "WellPoint Health Acquires Rush Presidential Health". Los Angeles Times.
- "WellPoint set to buy Cerulean by March 31". American City Business Journals. January 3, 2001.
- Desloge, Rick (December 23, 2001). "RightChoice Managed Care Inc. acquired by L.A.-based WellPoint". American City Business Journals.
- KREIMER, SUSAN (January 25, 2002). "WellPoint to acquire MethodistCare". Houston Chronicle.
- "WellPoint Completes Acquisition of Golden West Dental & Vision; Strengthens Commitment to Growth in the Dental Arena" (Press release). Business Wire. June 30, 2003.
- "WellPoint, Anthem complete merger". American City Business Journals. December 1, 2004.
- "Anthem, Wellpoint complete $16.5 billion merger". NBC News. Associated Press. December 1, 2004.
- "WellPoint Acquires Health Plan Provider". Best's Insurance News. June 10, 2005.
- Richard, Christine; Sullivan, Tom (January 7, 2006). "Corporate Debt Offerings Boom As Buybacks, Deals Are Planned". The Wall Street Journal.
- "WellPoint Completes Acquisition of American Imaging Management" (Press release). Thomas Register. August 9, 2007.
- "President of WellPoint's Anthem Blue in California Leaves Post". Insurance Journal. July 21, 2010.
- DerGurahian, Jean (April 17, 2008). "WellPoint purchases data firm Resolution Health". Modern Healthcare.
- Newmarker, Chris (April 22, 2009). "WellPoint completes DeCare Dental acquisition". American City Business Journals.
- Main, Tom; Slywotzky, Adrian (October 3, 2011). "The Quiet Health-Care Revolution". The Atlantic.
- Mathews, Anna Wilde; Kamp, Jon (July 9, 2012). "WellPoint's Medicaid Bet". The Wall Street Journal.
- Caldwell, Carla (December 25, 2012). "WellPoint, Inc. acquires Amerigroup Corp". American City Business Journals.
- Roy, Avik (July 11, 2012). "WellPoint Buys Amerigroup, Bets Big on Medicaid Expansion: But Will States and Voters Cooperate?". Forbes.
- ROBEZNIEKS, ANDIS (August 28, 2012). "Angela Braly resigns as president and CEO of WellPoint". Modern Healthcare.
- Terhune, Chad (August 28, 2012). "WellPoint CEO Angela Braly quits, bowing to investor pressure". Los Angeles Times.
- "Anthem, Inc. Completes Acquisition of Simply Healthcare Holdings, Inc" (Press release). Business Wire. February 18, 2015.
- Cane, Jeffrey; Abelson, Reed (20 June 2015). "Anthem Makes $47 Billion Offer for Rival Cigna". The New York Times.
- Banerjee, Ankur; Pierson, Ransdell (July 24, 2015). "Anthem to buy Cigna to create biggest U.S. health insurer". Reuters.
- Wilde Mathews, Anna; Kendall, Brent (February 9, 2017). "Federal Judge Blocks Anthem's Planned Acquisition of Cigna". The Wall Street Journal.
- Wilde Mathews, Anna; Kendall, Brent (February 14, 2017). "Antitrust Rulings Put Chill on Health-Insurance Mergers". The Wall Street Journal.
- Flanagan, Cristin; Rausch, Natasha (October 18, 2017). "Anthem Breaks With Express Scripts, Will Start Own Drug Plan". Bloomberg News.
- Thomas, Katie; Abelson, Reed; Bray, Chad (March 8, 2018). "Cigna to Buy Express Scripts in $52 Billion Health Care Deal". The New York Times.
- "Anthem names industry veteran Gail Boudreaux as new CEO". CNBC. Reuters. November 6, 2017.
- Ryckaert, Vic (May 22, 2018). "Anthem is not only staying but expanding in Downtown Indianapolis". USA Today.
- "Anthem, Inc. Completes Acquisition of Beacon Health Options". www.businesswire.com. 2020-03-02. Retrieved 2020-03-03.
- "About the Medical Group Ratings". Government of California.
- Terhune, Chad (January 28, 2014). "Report criticizes California health plans for treatment of chronic ailments". Los Angeles Times.
- Levey, Noam (March 18, 2010). "WellPoint's giving for uninsured falls short, records show". Los Angeles Times.
- Waas, Murray (March 18, 2010). "Insurer targeted HIV patients to drop coverage". Reuters.
- "WellPoint Routinely Targets Breast Cancer Patients". Common Dreams. April 24, 2000.
- "Health insurers to pay state regulators". East Bay Times. Associated Press. July 17, 2008.
- Waas, Murray (April 23, 2010). "WellPoint routinely targets breast cancer patients". Reuters.
- NOAH, TIMOTHY (May 10, 2010). "How WellPoint's bad behavior advances health care reform". Slate.
- Lazarus, David (September 20, 2011). "Using plastic to pay Anthem bill? Prepare to lose your coverage". Los Angeles Times.
- Williams, Carol J. (September 3, 2009). "2 giant health insurers accused of illegal steps to thwart change". Los Angeles Times.
- Armstrong, Drew (January 31, 2011). "UnitedHealth Joins WellPoint to hone Health Law Lobby". Bloomberg News.
- "WellPoint Sues Maine To Raise Premiums 18.5% - MyFDL". firedoglake.com.
- Delaney, Arthur (October 5, 2009). "WellPoint Subsidiary Fights Maine Over Big Rate Hike (VIDEO)". HuffPost.
- "Summary of Key Points of Anthem Health Plans of Maine, Inc. v. Superintendent of Insurance, Maine Attorney General, and Consumers for Affordable Health Care" (PDF).
- Colliver, Victoria (February 6, 2010). "Anthem blue cross raises premiums". San Francisco Chronicle.
- Sack, Kevin (February 16, 2010). "In California, Exhibit A in Debate on Insurance". The New York Times.
- "Anthem to delay insurance rate hike amid criticism". Newsday. Associated Press. February 14, 2010.
- ZAPLER, MIKE (February 19, 2010). "Feinstein takes on anthem blue cross". San Jose Mercury News.
- Volsky, Igor (March 31, 2010). "WellPoint Reclassifies Costs As 'Medical Care' To Meet Reform's Medical Loss Ratio Requirement". Think Progress.
- Perkes, Courtney (October 23, 2010). "Personal data accessed on insurer Web site". Orange County Register.
- Borba, Andria (May 28, 2014). "Sonoma County Man Battling Cancer Denied Coverage By Anthem Blue Cross After Paying $100K In Premiums". KPIX-TV. includes video and transcript of coverage.
- "Unbelievable". tumblr.com. May 18, 2014.
- "Anthem Blue Cross To Cover Sonoma County Cancer Patient After KPIX 5 Report". cbslocal.com.
- "Data Breach at Health Insurer Anthem Could Impact Millions". Brian Krebs. February 4, 2015.
- Pepitone, Julianne (February 5, 2015). "Anthem Hack: Credit Monitoring Won't Catch Medical Identity Theft". NBC News.
- Riley, Michael A. (February 5, 2015). "Chinese State-Sponsored Hackers Suspected in Anthem Attack". Bloomberg News.
- Abelson, Reed; Goldstein, Matthew (February 5, 2015). "Anthem Hacking Points to Security Vulnerability of Health Care Industry". The New York Times.
- Weise, Elizabeth (February 4, 2015). "Massive breach at health care company Anthem Inc". USA Today.
- GELLER, ERIC (May 9, 2019). "Chinese nationals charged for Anthem hack, 'one of the worst data breaches in history'". Politico.
- MILLER, MAGGIE (May 9, 2019). "Chinese nationals indicted for Anthem data breach, other cyber intrusions into U.S. companies". The Hill.
- Perlroth, Nicole (May 9, 2019). "Two From China Are Charged in 2014 Anthem Data Breach". The New York Times.
- OSTROV, BARBARA FEDER (January 30, 2019). "Patients Suffer As Insurers And Big Health Systems Spar For Market Share". NPR.
- ANDERSON, CATHIE (June 7, 2019). "Anthem to pay 'very large fine,' correct how it handles California patients' complaints". The Sacramento Bee. ISSN 0890-5738.
- "Anthem Revenue 2006-2018 | ANTM". www.macrotrends.net. Retrieved 2018-10-31.
- Official website
- Business data for Anthem Inc.: