Indianapolis-based Anthem, parent company of Blue Cross Blue Shield (BCBS), plans to change its name to Elevance Health in a bid to recast itself as a company with a broader focus than traditional health insurance, according to a Thursday (March 10) press release. The company will need shareholder approval to make the change.
“Improving health means more than just treating what ails us,” said Anthem President and CEO Gail Boudreaux in the release. “This need has driven our transformation from a health benefits organization to a lifetime, trusted health partner.”
The name change comes as Anthem’s family of companies has evolved to offer products and services beyond routine health insurance. Today, its digital capabilities, clinical, behavioral, pharmacy, and complex care assets allows the company to fill the needs of consumers’ range of needs with an integrated, holistic approach, according to the release.
Corporate rebranding is just one step in the company’s effort to optimize its portfolio. BCBS health plans will not change. But the company said in the release it plans to streamline other brands in the market to reduce complexities and improve consumer service.
Boudreaux said, per the release, the name change is necessary for the business to evolve. So far, it has grown to more than 90,000 employees, serving nearly 600 national employers, more than 1.1 million care providers and alliance partners, and more than 118 million consumers.
Last month, Anthem BCBS in Kentucky announced a virtual primary care service to eligible members in its commercial health plans, meeting consumers’ demands for what it called easy access to high-quality care, where, how and when they want it.
Read more: Senators Push Bill to Keep Telehealth Medicare Coverage as Private Insurers Lean Into Virtual
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