Here are five updates from Elevance Health, formerly Anthem, since Oct. 5.
Elevance Health is facing a federal lawsuit alleging the payer received more than $100 million in overpayments from CMS after a judge declined to dismiss the suit. Elevance failed to show the lawsuit should be dismissed for lack of material, U.S. District Court Judge Andrew Carter said in a ruling in early October.
Elevance Health is now the largest commercial health insurer in the nation by total membership. As of Sept. 30, total membership at Elevance was 47.3 million, an increase of 4.9 percent year over year.
Elevance expanded its home-based nursing management company, myNEXUS, to Medicare Advantage members in 15 states.
Deanna Strable, CFO of Principal Financial, will join Elevance Health's Board of Directors.
Elevance Health took in $1.6 billion in net income for the third quarter and raised its earnings outlook for the rest of the year, according to the company's third quarter earnings report.