News Headlines Article

Anthem trumps Street 1Q forecasts, reaffirms 2016 guidance
San Francisco Chronicle

Growing government business fueled Anthem in the first quarter, as earnings for the nation’s second-largest health insurer easily topped Wall Street expectations. The Blue Cross-Blue Shield insurer said Wednesday that operating revenue from its work for the government, which includes Medicaid and Medicare Advantage coverage, jumped 14 percent and makes up slightly more than half of its total of $20.31 billion. Operating revenue excludes investment gains. Anthem’s enrollment in the state and federally funded Medicaid program climbed 7.6 percent from last year’s first quarter to more than 6 million people, as the company’s total membership grew past 39 million.