Health Insurance Anthem’s remake of Elevance Health will be renamed “Carelon” for its health services and the return of “Wellpoint” for government-funded health insurance products.
Anthem, which will officially become Elevance Health on June 28, said Wednesday that the new names will “optimize and simplify the company’s brand portfolio, reduce complexity and further emphasize solutions beyond traditional health insurance, simplify the health experience and advance health. Beyond health.” said the company on Wednesday.
The changes mean the following:
· The name of the corporation is changed from Anthem to Elevance Health, as previously announced.
· Healthcare services, including the IngenioRx pharmaceutical benefits subsidiary, are becoming Carelon operations. Thus, PBM will be known as CarelonRx.
· 14 state Anthem Blue Cross Blue Shield plans maintain the Anthem and Blue brands.
· In select markets, non-Blue Cross plans, such as Medicare and Medicaid insurance products, are called Wellpoint, which was the first corporate name of the company until December 2014.
“An important part of being a trusted health care partner in life is our ability to ensure that consumers have access to services that will meet their full health needs throughout their health journey,” said Gail Boudreaux, President and CEO of Anthem. “The addition of our new brand to our business family will bring together services and products that further integrate our business and healthcare experience into their respective brands to solve complex challenges and improve the lives of consumers.”
Corporate rebranding – the company’s second in less than a decade When the parent’s name was changed from Wellpoint to Anthem in 2014, it is being done to reflect the company’s business and operations, which have completely changed during Boudreaux’s four-year tenure. He has designed several purchases, invested heavily in digital capabilities to attract consumers, and oversaw the launch of IngenioRx, a company that manages its own pharmaceutical health insurance benefits.
On June 28, the new name of the Elevance Health holding company will become official when the company’s directors ring the initial bell on the New York Stock Exchange and the shares “begin trading on the new ELV symbol,” the company said.
Anthem, a Blue Cross and Blue Shield plan that includes government and commercial health insurance in 14 states, is the second largest provider of health benefits nationwide behind UnitedHealth Group’s UnitedHealthcare.
Increasingly, health insurers are placing their proprietary health services under a different umbrella and brand, even as they work to provide more coordinated care to clients and employers of health plans.
UnitedHealth Group, for example, owns the Optum Health Services business with a range of outpatient providers and medical practices, including major drug chain CVS Health, Aetna Health Insurance along with pharmacies and retail health clinics. And two years ago, Swan founded Evernorth, under the umbrella of Evernorth, a company that manages its healthcare services and Express Scripts pharmaceutical benefits.
In Anthem’s case, health insurance “will completely change its capabilities and services under the Carelon brand over the next two years,” the company said. Carelon’s name is derived from the word “care” and the suffix “lon,” which means whole and complete, which “indicates the importance of giving full and complete attention,” Anthem officials said.
“Carelon makes connected care for everyone possible by putting people at the center of what we do and providing the right balance of care, technology, data-driven knowledge and experience to solve complex challenges and help consumers live healthier lives,” said Pete Haytaian. He is the executive vice president of Anthem and president of Carelon, the company said it serves one in three people in the U.S. partners. ‘