Elevance lifts 2026 profit forecast on better medical cost management

Oct 21 — Elevance Health raised its ​annual profit forecast on Wednesday, as the health insurer banks ‌on its disciplined medical cost management.

Health ⁠insurers have ​been navigating elevated ⁠demand for behavioral health ‌services and specialty ‌drugs across government-backed plans in ⁠recent years, ⁠which have driven up costs.

Elevance forecast full-year adjusted profit to be at least $29 per share, compared with its previous ‌outlook of at ​least $27 per share. Analysts on average estimate an annual profit of $27.23 per share, according to data compiled by LSEG.

For the third quarter, the health ​insurer reported a medical ‌loss ratio, ‌the ⁠percentage of premiums spent on medical care, of 90.6%. Analysts, on average, had expected a ‌ratio of 91.17%.

(Reporting ​by Kamal Choudhury ‌and Sneha ⁠S ​K in Bengaluru; Editing by Leroy ​Leo)

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