Anthem Reports Second Quarter Results, Reaffirms Commitment to Stakeholders During COVID-19 Pandemic

INDIANAPOLIS–(BUSINESS WIRE)–$ANTM #earnings–Against the backdrop of the ongoing pandemic, Anthem, Inc. (NYSE: ANTM) has continued to take bold steps to directly support its health plan members, customers, care providers, associates, and local communities.

“During these uncertain times, our business has continued to adapt and respond to the needs of those we serve in light of COVID-19 and the important discussions around health disparities and racial injustice facing our society. Now more than ever, our members, customers, and local communities are looking to us for support and I am honored by the trust they have placed in us,” said President and CEO Gail K. Boudreaux. “Together, with our more than 78,000 associates, Anthem is guided by our mission of improving lives and building a better and healthier America.”

Anthem has been, and always will be, deeply connected and committed to our local communities. In addition to providing $2.5 billion of financial assistance to ease the burden of the COVID-19 pandemic, Anthem pledged $50 million over the next five years to focus directly on addressing health disparities, racial inequities, and the key drivers of health such as food insecurity, mental health, housing, and economic recovery.

As part of Anthem’s efforts to combat the global pandemic, address health inequities, and adapt to the ever-changing healthcare environment, the Company has remained focused on fostering deeper relationships and developing innovative solutions to meet critical needs for its stakeholders. Actions taken to support our members, customers, care providers and local communities include:

Care for our Anthem associates

  • Deployed business continuity plans and transitioned nearly all of our associates to work from home while maintaining service operations.
  • Waived one month of premium costs for associates enrolled in an Anthem health plan.
  • Expanded associate benefits to provide additional support, including providing up to 80 hours of additional paid leave, reimbursement of installation and monthly internet service fees for hourly associates, and offering virtual wellbeing resources.
  • Ensuring our frontline medical staff are following CDC guidelines and are provided with the proper equipment and supplies to minimize risk to themselves and patients.

Care for our consumers, customers, and providers

  • Waived all cost-sharing for COVID-19 diagnostic tests and treatment through December 31, 2020.
  • Increased access to virtual care and waived cost-sharing for telehealth and phone visits, including those for mental health, through September 30, 2020.
  • Relaxed early prescription refill policies for maintenance and specialty medications.
  • Provided a one-month premium credit to members enrolled in select individual plans and fully insured employer group customers ranging from 10 to 15 percent of monthly premium.
  • Provided a one-month 50 percent premium credit to individuals in standalone and group dental plans.
  • Offering enhanced flexibility with regard to premium payments to eligible employer groups.
  • Working with providers to accelerate claims processing, resolving claims, and accelerating payments to support state-specific Medicaid programs.
  • Providing financial assistance to care provider partners facing undue financial pressure and to support ramping up telehealth capabilities and the cost of PPE.
  • Offering in-network dental providers a $10 PPE credit per patient, per visit through the end of August 2020.
  • Suspended select prior authorization requirements.
  • Deployed C19 Explorer, a digital tool that aggregates real-time COVID-19 data to present trends and predictions for communities across the nation to assess readiness to reopen, plan next steps, and respond to potential changes.
  • Deployed C19 Navigator, a dashboard solution designed for Anthem employer customers to help inform workplace decisions and resource planning with employee-level data.
  • Launched Passport, powered by doc.ai, an app that empowers employers to minimize risk and support safer entry into the workplace by verifying their employees’ health status. The app evaluates possible COVID-19 symptoms through daily attestations.
  • Opened hundreds of digital solutions kiosks in health centers across California to provide real-time video interpretation services and access to telehealth.
  • Introduced the Anthem Skill to members of our commercial medical and dental health plans. Through an Alexa-enabled device, members can use the Anthem Skill to take actions such as order prescriptions and quickly access some of their health and dental plan benefit information.
  • Deployed a Coronavirus Assessment tool within our Sydney Care app to help people quickly and safely evaluate symptoms, assess their risk of having COVID-19, and connect directly to a board-certified doctor via text or video.
  • Deployed Serenity, a free chatbot companion offered by doc.ai, providing expert and confidential mental health counseling through AI.
  • Facilitating connections with Medicaid beneficiaries and state and social services, helping newly eligible and at risk members enroll in the Supplemental Nutrition Assistance Program (SNAP) and Special Supplemental Nutrition Program for Women, Infants, and Children (WIC).
  • Outreach to Medicare Advantage and Medicaid consumers to make sure they have necessary medications on hand, their nutritional needs are being met, and critical health needs are addressed.
  • Recruiting and expediting the onboarding of care providers interested in providing telehealth services to members.
  • Providing resources to support the whole health needs of members, including resources to manage social isolation, job loss, food insecurity and stress.

 

Care for our communities

  • Committed $50 million from the Anthem Foundation for COVID-19 response and recovery efforts to help areas of greatest need, including care provider safety, food insecurity, and mental and behavioral health resources.
  • In collaboration with Gleaners Food Bank, we are working to provide more than 10 million meals in our home city of Indianapolis by providing a $1 million matching grant to fight food insecurity and expand access to nutritious food.
  • Partnered with NYC-based Coalition of Asian-American IPA, an independent practice association with over 1,000 private practice providers, to provide free mobile testing across NYC while increasing access to testing in many other markets across the U.S.
  • Partnered with ConvenientMD to provide drive-up testing services in Maine and New Hampshire.
  • Providing virtual volunteer opportunities, such as remote teaching or mailing cards to seniors facing loneliness, to help associates safely give back to communities.
  • Provided funding to support COVID-19 testing infrastructure for community health centers in Ohio.
  • Contributed $1 million to the newly created Rapid Response Loan Fund established by the Indianapolis Chamber of Commerce to provide critical funding for nearly 43 thousand small businesses in Central Indiana.
  • Anthem and the Anthem Foundation are founding anchor partners of XPRIZE Rapid COVID Testing, a collaboration with XPRIZE, OpenCovidScreen, and other Blue Cross and Blue Shield plans and innovative organizations to launch a $5 million competition to accelerate the development of high-quality COVID-19 testing that is low cost, easy to use, and quick-reporting, paving the way for more frequent testing.

Additional actions to support society

  • Pledged $50 million over the next 5 years focused on directly impacting racial injustice, strengthening our communities, and addressing health inequities.
  • Contributed to the Central Indiana Racial Equity Fund in support of organizations focused on having difficult conversations about Indiana’s and the Nation’s complicated past; building additional capacity within the nonprofit sector to address issues of inequality, in particular relating to the criminal justice system; and advancing effective, data-driven solutions at the local level.
  • Joined the UN Global Compact (UNGC), the world’s largest corporate sustainability initiative and a call to companies to align with universal principles on human rights, labor, environment, and anti-corruption, and take actions that advance societal roles.

CONSOLIDATED HIGHLIGHTS

Earnings Per Share: GAAP net income was $8.91 per share in the quarter, including net negative adjustment items of $0.29 per share. Adjusted net income was $9.20* per share.

*Please refer to the GAAP reconciliation tables.

Membership: Medical enrollment totaled 42.5 million members at June 30, 2020, an increase of 309 thousand lives, or 0.7 percent, compared to March 31, 2020. The increase was driven by our Government Business, which grew by 599 thousand lives during the quarter, attributable to Medicaid, reflecting organic growth as a result of the temporary suspension of eligibility recertification efforts in our markets, and Medicare Advantage. The increase was partially offset by Commercial & Specialty Business enrollment, which declined by 290 thousand lives driven by higher in-group change as a result of the higher unemployment rate.

Medical enrollment increased by 1.6 million lives, or 3.9 percent compared to the prior year quarter, reflecting growth in the Medicaid, National, and Medicare businesses. Growth in Medicaid was driven by organic growth in our markets as well as our acquisition of the plans in Missouri and Nebraska. The increase in National enrollment reflects growth due to higher BlueCard activity and the acquisition of AmeriBen in the first quarter of 2020.

Operating Revenue: Operating revenue was $29.2 billion in the second quarter of 2020, an increase of $4 billion, or 15.9 percent, versus the prior year quarter, driven by pharmacy product revenue related to the launch of IngenioRx. The increase was further attributable to higher premium revenue due to growth in Medicaid and Medicare and the return of the health insurance tax in 2020, partially offset by a decrease in experience-rated premiums in our Federal Health Products & Services business.

Benefit Expense Ratio: The benefit expense ratio was 77.9 percent in the second quarter of 2020, a decrease of 880 basis points from 86.7 percent in the prior year quarter. The decrease was primarily driven by the deferral of healthcare utilization due to the COVID-19 pandemic, and to a lesser extent, the return of the health insurance tax in 2020. The decrease was partially offset by premium credits provided to members enrolled in select employer group and Individual plans.

Medical claims reserves established at December 31, 2019 developed in line with the Company’s expectations during the second quarter of 2020.

Days in Claims Payable: Days in Claims Payable was 46.0 days as of June 30, 2020, an increase of 4.1 days from March 31, 2020.

SG&A Expense Ratio: The SG&A expense ratio was 13.9 percent in the second quarter of 2020, an increase of 90 basis points from 13.0 percent in the second quarter of 2019, primarily driven by the return of the health insurance tax in 2020 and increased spend to support growth, partially offset by growth in operating revenue.

Operating Cash Flow: Operating cash flow was $5.5 billion, or 2.4 times net income in the second quarter of 2020, an increase of $4.1 billion compared to the prior year quarter, primarily driven by growth in net income and the delayed payment of certain federal income and payroll taxes in accordance with the CARES Act. The increase was further attributable to growth in premium revenue due to the return of the health insurance tax in 2020.

Share Repurchase Program: After careful consideration of the Company’s financial position in conjunction with the prevailing market conditions, share repurchase activity resumed in late-June. During the second quarter of 2020, the Company repurchased 213 thousand shares of its common stock for $55 million, or a weighted average price of $258.77. Year to date, the Company has repurchased 2.1 million shares for $584 million, or a weighted average price of $273.72.

As of June 30, 2020, the Company had approximately $3.2 billion of Board-approved share repurchase authorization remaining.

Cash Dividend: During the second quarter of 2020, the Company paid a quarterly dividend of $0.95 per share, representing a distribution of cash totaling $242 million.

On July 28, 2020, the Audit Committee declared a third quarter 2020 dividend to shareholders of $0.95 per share. On an annualized basis, this equates to a dividend of $3.80 per share. The third quarter dividend is payable on September 25, 2020 to shareholders of record at the close of business on September 10, 2020.

Investment Portfolio & Capital Position: During the second quarter of 2020, the Company recorded net realized gains of $18 million and impairment recoveries totaling $11 million. During the second quarter of 2019, the Company recorded net realized gains of $11 million and impairment losses totaling $7 million.

As of June 30, 2020, the Company’s net unrealized loss position in the investment portfolio was $713 million, consisting of fixed maturity securities. As of June 30, 2020 cash and investments at the parent company totaled approximately $4.1 billion.

REPORTABLE SEGMENTS

Effective January 1, 2020, Anthem, Inc. has four reportable segments: Commercial & Specialty Business (comprised of the Local Group, National Accounts, Individual and Specialty businesses); Government Business (comprised of the Medicaid, Medicare, and Federal Health Products & Services businesses); IngenioRx, and Other (comprised of the Diversified Business Group and corporate expenses not allocated to our other reportable segments).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Anthem, Inc.

 

 

Reportable Segment Highlights

 

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In millions)

Three Months Ended June 30

 

Six Months Ended June 30

 

 

 

2020

 

2019

 

Change

 

2020

 

2019

 

Change

 

 

Operating Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial & Specialty Business

$8,789

 

$9,417

 

(6.7

)%

 

$18,150

 

$18,809

 

(3.5

)%

 

 

Government Business

17,242

 

15,538

 

11.0

%

 

34,708

 

30,464

 

13.9

%

 

 

IngenioRx

5,269

 

248

 

 

NM2

 

10,466

 

248

 

NM2

 

 

Other

1,452

 

546

 

165.9

%

 

2,479

 

1,094

 

126.6

%

 

 

Eliminations

(3,574)

 

(572)

 

NM2

 

(7,177)

 

(1,050)

 

NM2

 

 

Total Operating Revenue1

$29,178

 

$25,177

 

15.9

%

 

$58,626

 

$49,565

 

18.3

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Gain / (Loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial & Specialty Business

$1,372

 

$983

 

39.6

%

 

$2,792

 

$2,581

 

8.2

%

 

 

Government Business

1,618

 

480

 

237.1

%

 

2,029

 

854

 

137.6

%

 

 

IngenioRx

304

 

 

 

NM2

 

653

 

 

 

NM2

 

 

Other

66

 

(30)

 

NM2

 

80

 

(62)

 

NM2

 

 

Total Operating Gain1

$3,360

 

$1,433

 

134.5

%

 

$5,554

 

 

$3,373

 

 

64.7

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Margin

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial & Specialty Business

15.6

%

 

10.4

%

 

520 bp

 

15.4

%

 

13.7

%

 

170 bp

 

 

Government Business

9.4

%

 

3.1

%

 

630 bp

 

5.8

%

 

2.8

%

 

300 bp

 

 

IngenioRx

5.8

%

 

 

 

NM2

 

6.2

%

 

%

 

NM2

 

 

Total Operating Margin1

11.5

%

 

5.7

%

 

580 bp

 

9.5

%

 

6.8

%

 

270 bp

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) See “Basis of Presentation” herein.

(2)“NM” = calculation not meaningful.

Commercial & Specialty Business: Operating gain in the Commercial & Specialty Business segment totaled $1,372 million in the second quarter of 2020, an increase of $389 million, or 39.6 percent, from $983 million in the second quarter of 2019. The increase is primarily attributable to reduced healthcare benefit utilization during the COVID-19 pandemic. The increase was partially offset by premium credits provided to members enrolled in select employer group and Individual health plans, less favorable adjustments to our risk adjustor estimates, as well as the shift of pharmacy earnings to the IngenioRx segment.

Government Business: Operating gain in the Government Business segment was $1,618 million in the second quarter of 2020, an increase of $1,138 million, or 237.1 percent, from $480 million in the second quarter of 2019. The increase is primarily attributable to reduced healthcare benefit utilization during the COVID-19 pandemic, partially offset by experience-rated refunds and retroactive rate adjustments in Medicaid.

IngenioRx: IngenioRx commenced operations in the second quarter of 2019 and the transition of membership was completed on January 1, 2020. Operating gain was $304 million in the second quarter of 2020.

Other: The Company reported an operating gain of $66 million in the Other segment for the second quarter of 2020, compared with an operating loss of $30 million in the prior year quarter. The increase was driven by growth in the Diversified Business Group.

OUTLOOK

Full Year 2020:

  • GAAP net income is expected to be greater than $20.91 per share, including approximately $1.39 per share of net unfavorable items. Excluding these items, adjusted net income is expected to be greater than $22.30* per share.

Due to unprecedented uncertainty around the COVID-19 pandemic and its impact, the Company is not providing other financial guidance metrics for 2020 until visibility improves.

* Refer to the GAAP reconciliation tables.

Basis of Presentation

  1. Operating revenue and operating gain are the key measures used by management to evaluate performance in each of its reporting segments, allocate resources, set incentive compensation targets and to forecast future operating performance. Operating gain is calculated as total operating revenue less benefit expense, cost of products sold and selling, general and administrative expense. It does not include net investment income, net realized gains/losses on financial instruments, other-than-temporary impairment losses recognized in income, interest expense, amortization of other intangible assets, gains/losses on extinguishment of debt or income taxes, as these items are managed in a corporate shared service environment and are not the responsibility of operating segment management. Refer to the GAAP reconciliation tables.
  2. Operating margin is defined as operating gain divided by operating revenue.

Conference Call and Webcast

Management will host a conference call and webcast today at 8:30 a.m. Eastern Daylight Time (“EDT”) to discuss the company’s second quarter results and outlook. The conference call should be accessed at least 15 minutes prior to the start of the call with the following numbers:

800-857-9605 (Domestic)

   

800-568-6411 (Domestic Replay)

203-827-7032 (International)

   

203-369-3291 (International Replay)

The access code for today’s conference call is 1623092. The replay will be available from 11:30 a.m. EDT today, until the end of the day on August 29, 2020. The call will also be available through a live webcast at www.antheminc.com under the “Investors” link. A webcast replay will be available following the call.

About Anthem, Inc.

Anthem is a leading health benefits company dedicated to improving lives and communities, and making healthcare simpler. Through its affiliated companies, Anthem serves more than 106 million people, including more than 42 million within its family of health plans. We aim to be the most innovative, valuable and inclusive partner. For more information, please visit www.antheminc.com or follow @AnthemInc on Twitter.

Anthem, Inc.

Membership Summary

(Unaudited and in Thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change from

Medical Membership

June 30,

2020

 

June 30,

2019

 

March 31,

2020

 

June 30, 2019

 

March 31,

2020

Customer Type

 

 

 

 

 

 

 

 

 

Local Group

15,616

 

 

15,670

 

 

15,848

 

 

(0.3

)%

 

(1.5

)%

Individual

711

 

 

741

 

 

717

 

 

(4.0

)%

 

(0.8

)%

 

 

 

 

 

 

 

 

 

 

National:

 

 

 

 

 

 

 

 

 

National Accounts

7,872

 

 

7,693

 

 

7,898

 

 

2.3

%

 

(0.3

)%

BlueCard®

6,171

 

 

6,009

 

 

6,197

 

 

2.7

%

 

(0.4

)%

Total National

14,043

 

 

13,702

 

 

14,095

 

 

2.5

%

 

(0.4

)%

 

 

 

 

 

 

 

 

 

 

Medicare:

 

 

 

 

 

 

 

 

 

Medicare Advantage

1,366

 

 

1,170

 

 

1,341

 

 

16.8

%

 

1.9

%

Medicare Supplement

921

 

 

877

 

 

914

 

 

5.0

%

 

0.8

%

Total Medicare

2,287

 

 

2,047

 

 

2,255

 

 

11.7

%

 

1.4

%

Medicaid

8,180

 

 

7,099

 

 

7,615

 

 

15.2

%

 

7.4

%

Federal Employees Health Benefits

1,616

 

 

1,593

 

 

1,614

 

 

1.4

%

 

0.1

%

Total Medical Membership

42,453

 

 

40,852

 

 

42,144

 

 

3.9

%

 

0.7

%

Funding Arrangement

 

 

 

 

 

 

 

 

 

Self-Funded

25,888

 

 

25,433

 

 

26,120

 

 

1.8

%

 

(0.9

)%

Fully-Insured

16,565

 

 

15,419

 

 

16,024

 

 

7.4

%

 

3.4

%

Total Medical Membership

42,453

 

 

40,852

 

 

42,144

 

 

3.9

%

 

0.7

%

Reportable Segment

 

 

 

 

 

 

 

 

 

Commercial & Specialty Business

30,370

 

 

30,113

 

 

30,660

 

 

0.9

%

 

(0.9

)%

Government Business

12,083

 

 

10,739

 

 

11,484

 

 

12.5

%

 

5.2

%

Total Medical Membership

42,453

 

 

40,852

 

 

42,144

 

 

3.9

%

 

0.7

%

Other Membership

 

 

 

 

 

 

 

 

 

Life and Disability Members

5,110

 

 

4,906

 

 

5,158

 

 

4.2

%

 

(0.9

)%

Dental Members

6,096

 

 

5,931

 

 

6,172

 

 

2.8

%

 

(1.2

)%

Dental Administration Members

1,318

 

 

5,523

 

 

1,311

 

 

(76.1

)%

 

0.5

%

Vision Members

7,457

 

 

7,161

 

 

7,510

 

 

4.1

%

 

(0.7

)%

Medicare Part D Standalone Members

392

 

 

287

 

 

383

 

 

36.6

%

 

2.3

%

Anthem, Inc.

Consolidated Statements of Income

(Unaudited)

 

 

 

 

 

 

 

(In millions, except per share data)

 

Three Months Ended

June 30

 

 

 

 

2020

 

2019

 

Change

Revenues

 

 

 

 

 

 

Premiums

 

$

25,092

 

 

$

23,501

 

 

6.8

%

Product revenue

 

2,543

 

 

144

 

 

NM

 

Administrative fees and other revenue

 

1,543

 

 

1,532

 

 

0.7

%

Total operating revenue

 

29,178

 

 

25,177

 

 

15.9

%

Net investment income

 

57

 

 

285

 

 

(80.0

)%

Net realized gains on financial instruments

 

18

 

 

11

 

 

63.6

%

Impairment recoveries (losses) on investments:

 

 

 

 

 

 

Total impairment recoveries (losses) on investments

 

6

 

 

(9

)

 

NM

 

Portion of impairment losses recognized in other comprehensive income

 

5

 

 

2

 

 

150.0

%

Impairment recoveries (losses) recognized in income

 

11

 

 

(7

)

 

NM

 

 

 

 

 

 

 

 

Total revenues

 

29,264

 

 

25,466

 

 

14.9

%

 

 

 

 

 

 

 

Expenses

 

 

 

 

 

 

Benefit expense

 

19,547

 

 

20,368

 

 

(4.0

)%

Cost of products sold

 

2,225

 

 

98

 

 

NM

 

Selling, general and administrative expense

 

4,046

 

 

3,278

 

 

23.4

%

Interest expense

 

201

 

 

184

 

 

9.2

%

Amortization of other intangible assets

 

93

 

 

85

 

 

9.4

%

Loss on extinguishment of debt

 

3

 

 

 

 

NM

 

 

 

 

 

 

 

 

Total expenses

 

26,115

 

 

24,013

 

 

8.8

%

 

 

 

 

 

 

 

Income before income tax expense

 

3,149

 

 

1,453

 

 

116.7

%

 

 

 

 

 

 

 

Income tax expense

 

873

 

 

314

 

 

178.0

%

 

 

 

 

 

 

 

Net income

 

$

2,276

 

 

$

1,139

 

 

99.8

%

 

 

 

 

 

 

 

Net income per diluted share

 

$

8.91

 

 

$

4.36

 

 

104.4

%

 

 

 

 

 

 

 

Diluted shares

 

255.4

 

 

261.0

 

 

(2.1

)%

 

 

 

 

 

 

 

Benefit expense as a percentage of premiums

 

77.9

%

 

86.7

%

 

(880

)bp

Selling, general and administrative expense as a percentage of total operating revenue

 

13.9

%

 

13.0

%

 

90

bp

Income before income taxes as a percentage of total revenue

 

10.8

%

 

5.7

%

 

510

bp

“NM” = calculation not meaningful

Anthem, Inc.

Consolidated Statements of Income

(Unaudited)

 

 

 

 

 

 

 

(In millions, except per share data)

 

Six Months Ended

June 30

 

 

 

 

2020

 

2019

 

Change

Revenues

 

 

 

 

 

 

Premiums

 

$

50,609

 

 

$

46,344

 

 

9.2

%

Product revenue

 

4,887

 

 

144

 

 

NM

 

Administrative fees and other revenue

 

3,130

 

 

3,077

 

 

1.7

%

Total operating revenue

 

58,626

 

 

49,565

 

 

18.3

%

Net investment income

 

311

 

 

495

 

 

(37.2

)%

Net realized (losses) gains on financial instruments

 

(6

)

 

89

 

 

NM

 

Impairment losses on investments:

 

 

 

 

 

 

Total impairment losses on investments

 

(95

)

 

(22

)

 

NM

 

Portion of impairment losses recognized in other comprehensive income

 

49

 

 

5

 

 

880.0

%

Impairment losses recognized in income

 

(46

)

 

(17

)

 

NM

 

 

 

 

 

 

 

 

Total revenues

 

58,885

 

 

50,132

 

 

17.5

%

 

 

 

 

 

 

 

Expenses

 

 

 

 

 

 

Benefit expense

 

41,036

 

 

39,650

 

 

3.5

%

Cost of products sold

 

4,209

 

 

98

 

 

NM

 

Selling, general and administrative expense

 

7,827

 

 

6,444

 

 

21.5

%

Interest expense

 

395

 

 

371

 

 

6.5

%

Amortization of other intangible assets

 

176

 

 

172

 

 

2.3

%

Loss (gain) on extinguishment of debt

 

4

 

 

(1

)

 

NM

 

 

 

 

 

 

 

 

Total expenses

 

53,647

 

 

46,734

 

 

14.8

%

 

 

 

 

 

 

 

Income before income tax expense

 

5,238

 

 

3,398

 

 

54.1

%

 

 

 

 

 

 

 

Income tax expense

 

1,439

 

 

708

 

 

103.2

%

 

 

 

 

 

 

 

Net income

 

$

3,799

 

 

$

2,690

 

 

41.2

%

 

 

 

 

 

 

 

Net income per diluted share

 

$

14.85

 

 

$

10.28

 

 

44.5

%

 

 

 

 

 

 

 

Diluted shares

 

255.9

 

 

261.6

 

 

(2.2

)%

 

 

 

 

 

 

 

Benefit expense as a percentage of premiums

 

81.1

%

 

85.6

%

 

(450

)bp

Selling, general and administrative expense as a percentage of total operating revenue

 

13.4

%

 

13.0

%

 

40

bp

Income before income taxes as a percentage of total revenue

 

8.9

%

 

6.8

%

 

210

bp

Contacts

Investor Relations
Chris Rigg
Chris.Rigg@anthem.com

Media
Jill Becher, 414-234-1573
Jill.Becher@anthem.com

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