Elevance Health, Inc.

Company facts

Industry

Hospital & Medical Service Plans

Headquarters

Indianapolis, Indiana

Most recent report

10-Q, filed Jul 15, 2026

Incorporated

Indiana

Filings on record

1,000+ filings

On EDGAR

CIK 1156039

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 2 of 13 sections worth reading, with 2 positive, 6 notable, and 3 negative flags.

• Financial Statements (Item 1)

  Full financials with major CMS charge, put option exposures, and segment profit declines.
  Notable

  • $129M transformation costs in H1 2026 for workforce reductions and IT platform modernization; $114M liability at quarter end.
  • Put options on equity investments total $1.73B: Mosaic Health $1,330M, Liberty Dental $396M, exercisable from 2026-2030.
  Negative

  • $935M CMS charge: $342M paid, $593M accrued at June 30, 2026, for Medicare risk-adjustment data resubmission.

• Management's Discussion (Item 2)

  Net income down 17.8% in H1; big loss contingency; Medicare Advantage members down 15.9%.
  Positive

  • Operating cash flow doubled to $6,245M in H1 2026 from $3,071M in H1 2025.
  • Debt-to-capital ratio improved to 40.8% at June 30 2026 from 42.1% at Dec 31 2025.
  Notable

  • CMS plans to substantially increase RADV audits of Medicare Advantage, which could lead to financial recoveries.
  • Transformation Program initiated in Q1 2026 to streamline operations, reduce layers, and integrate AI.
  • CMS notice resolved; sanctions will not be imposed after company completed required steps by July 31 2026.
  • Benefit expense ratio rose 80 bps in Q2 2026 to 89.7% due to elevated medical cost trend in Medicaid and Medicare.
  Negative

  • Shareholders' net income down 17.8% in H1 2026 to $3,227M from $3,926M in H1 2025.
  • Loss contingency accrual for Medicare Advantage risk adjustment data resubmission drove $993M surge in Corporate & Other operating loss.

What changed: Jun 2026 vs. Mar 2026

About 8% of ELV's Jun 2026 10-Q is new information. 31 paragraphs were added, 162 changed, and 51 removed. Below are the most important lines SECSift identified.

• Item 1 82
• Item 2 75
• Item 4 2
• Item 6 2
• Item 5 1