As Anthem Rebrands To Elevance, Healthcare Services To Be Named ‘Carelon’

Health insurer Anthem’s rebrand to Elevance Health will include the new name of “Carelon” for its healthcare services and the return of “Wellpoint” for certain government-subsidized health insurance products.

Anthem, which officially becomes Elevance Health on June 28, said Wednesday the new names “will optimize and streamline the company’s brand portfolio, reduce complexities, and further underscore its evolution to deliver solutions beyond traditional health insurance, simplify the healthcare experience, and advance health beyond healthcare,” the company said Wednesday.

The changes mean the following:

The corporate name changes from Anthem to Elevance Health as previously announced.

Healthcare services including the IngenioRx pharmacy benefit subsidiary become Carelon operations. Thus, the PBM will be known as CarelonRx.

The 14 Anthem Blue Cross Blue Shield plans in 14 states retain the Anthem and Blue brands

In select markets, non-Blue Cross plans such as Medicare and Medicaid insurance products take on the Wellpoint name, which was formerly the entire company’s corporate name until December of 2014.

“An important part of being a lifetime, trusted health partner is grounded in our ability to ensure consumers have access to services that will meet their whole health needs across their entire healthcare journey,” Anthem’s president and chief executive officer Gail Boudreaux said. “The addition of our new brands to our family of companies will bring together services and products within their respective brands that further integrate our business and health expertise across the industry to solve complex challenges and improve consumers lives.”

The corporate rebranding — the company’s second in less than a decade when the parent name changed in 2014 from Wellpoint to Anthem — is being done to reflect the company’s businesses and operations, which have changed dramatically under the four-year reign of Boudreaux. She has engineered several acquisitions, invested heavily in digital capabilities to engage consumers and overseen the launch of the health insurer’s own pharmacy benefit management company, IngenioRx.

On June 28, the new Elevance Health holding company name will become official when company executives ring the opening bell at the New York Stock Exchange and shares “begin trading under the new ticker symbol ELV,” the company said.

Anthem, which operates an array of government and commercial health insurance including Blue Cross and Blue Shield plans in 14 states, is the nation’s second-largest provider of health benefits behind UnitedHealth Group’s UnitedHealthcare.

Increasingly, health insurers are putting healthcare services they own under a different umbrella and brand even as they work to provide health plan customers and employ clients more coordinated care.

UnitedHealth Group, for example, owns the Optum healthcare services business with an array of outpatient providers and doctor practices while the big drugstore chain CVS Health owns pharmacies and retail health clinics along with the health insurer Aetna. And two years ago, Cigna created Evernorth, putting its medical care provider services and Express Scripts pharmacy benefit management company under the Evernorth umbrella.

In Anthem’s case, the health insurer will “fully transition its capabilities and services under the Carelon brand over the next two years,” the company said. The Carelon name is “derived from the word ‘care’ and suffix ‘lon’ meaning full and complete,” which “stands for the importance of providing full and complete care,” Anthem executives said.

“Carelon makes connected care possible for everyone by putting people at the center of what we do and delivering the right balance of care, technology, data-driven insights and expertise to solve complex challenges and help consumers lead healthier lives,” Pete Haytaian, who is executive vice president of Anthem, and president of Carelon, which the company said serves one in three people in the US “Bringing together these solutions will help deliver our strategy, drive growth, and exceed expectations for care providers, consumers, and our other partners.”

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