Integrated U.S. health insurer
Elevance Health, Inc.
Elevance provides health benefits to individuals, employers, and Medicare and Medicaid customers, earning premiums and administrative fees. Through Carelon, it sells pharmacy benefit and healthcare services while paying medical claims and vendors that support pharmacy and virtual care.
ELV Updated Sep 11, 2026 3 AI consumers· 2 recurring
Per the valuechain.wiki graph, Elevance Health, Inc. is directly linked to 2 companies (1 supply, 0 revenue, 1 investment relationships) and reaches 12 companies within two hops; the links are backed by 6 dated sources, 3 of them primary filings (as of 2026-09-11).
Financials & Segments
- Total revenue · FY2025 total revenue of $199.125 billion
- Segments · Health Benefits · CarelonRx · Carelon Services · Corporate & Other · Intersegment eliminations
Revenue from
- Indiana Family and Social Services Administration High confidence· Contract value $10.4B · 2024-07-01/2028-06-30 · Estimated total value of Anthem Insurance Companies' Indiana PathWays for Aging managed-care contract
Elevance subsidiary Anthem Insurance Companies holds Medicaid managed-care contracts with Indiana FSSA, including PathWays for Aging. The state's estimated total value for the PathWays contract covering July 2024 through June 2028 is about $10.382 billion.Mentions KO Investing.com Korea Published Jul 15, 2026: Health Insurers Fall as Elevance Health Results Raise Margin ConcernsConfirms EN Indiana Family and Social Services Administration Published Mar 18, 2025: Indiana Medicaid Quarterly Financial Review, March 2025Mentions EN KFF Published Feb 4, 2025: A Look at Medicaid Enrollment and Finances of the Five Largest Medicaid Managed Care Plans - Centers for Medicare & Medicaid Services High confidence· Count 2,230,000 members · 2025-12-31 · Medicare Advantage members served through CMS-contracted plans
Elevance contracts with CMS to provide managed health benefits including Medicare Advantage and receives government-determined premium payments. It served 2.23 million Medicare Advantage members at year-end 2025, while revenue by CMS contract was not disclosed.
Pays to
- American Well Corporation High confidence
Elevance maintains a services agreement with telehealth supplier American Well. The SEC-filed amendment confirms an initial term from January 2026 to January 2029 and an obligation to pay service fees, but the contract value is not public.Confirms EN SEC EDGAR Published Jan 2, 2026: American Well 8-K Exhibit 10.1, Fifth Amendment to the Master Services Agreement with Elevance Health - CVS Health High confidence
CarelonRx delegates certain core pharmacy benefit functions, including claims and network services, to CVS Health subsidiary CaremarkPCS Health. The current term runs through December 2027, and payments are not disclosed.
Investors
- BlackRock High confidence· Market share 7.8 percent · 2025-03-31 · BlackRock's reported beneficial ownership share of Elevance Health common stock
BlackRock reported beneficial ownership of 17,694,658 Elevance common shares as of March 31, 2025, equal to 7.8% of the class. The filing states that the shares were held in the ordinary course rather than to influence control.Confirms EN SEC EDGAR Published Apr 17, 2025: BlackRock Schedule 13G Amendment No. 15 for Elevance Health
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Elevance Health, Inc. | node | +46.1 | +11.8 | -6.9 | -20.7 | -3.1 | +17.4 |
| CVS Health | benef1 | +54.9 | -7.6 | -12.5 | -40.8 | +84.3 | +24.7 |
| BlackRock | benef1 | +29.4 | -20.4 | +17.9 | +29.3 | +6.6 | +6 |
| Marathon Petroleum Corporation | benef2 | +61 | +86.6 | +30.5 | -4.1 | +19.2 | +141.9 |
| Target Corporation | benef2 | +32.9 | -34.2 | -1.4 | -2.3 | -24.5 | +72.9 |
| Targa Resources Corp. | benef2 | +100.1 | +43.7 | +21 | +110.1 | +5.7 | +59.5 |
| ONEOK, Inc. | benef2 | +64.7 | +18.9 | +13.2 | +50.1 | -22.9 | +34.8 |
| Ross Stores | benef2 | -6 | +2.9 | +20.6 | +10.4 | +20.4 | +28.6 |
| Altria Group, Inc. | benef2 | +24.2 | +4.4 | -3.7 | +40.8 | +18.2 | +23.3 |
| Cardinal Health, Inc. | benef2 | -0.4 | +54.1 | +34.1 | +19 | +76.3 | +21.1 |
| McKesson Corporation | benef2 | +44.2 | +51.8 | +24.1 | +23.7 | +44.5 | +11 |
| Edwards Lifesciences Corporation | benef2 | +42 | -42.4 | +2.2 | -2.9 | +15.2 | +5.5 |
| Microsoft | benef2 | +52.5 | -28 | +58.2 | +12.9 | +15.6 | +4 |
YTD as of 2026-09-04 · source: Yahoo Finance
Elevance Health, Inc. operates across Integrated U.S. health insurer. It is +17.4% in 2026. The stock (+17.4%) and its supply side (avg +24.7%) are moving in step. Through Carelon, it sells pharmacy benefit and healthcare services while paying medical claims and vendors that support pharmacy and virtual care.
Analysis generated from returns as of 2026-09-04