Elevance Enjoys Local and National Leadership of Medical Insurance Market

Elevance Health continues to capitalize on its enviable position as the exclusive licensee of the Blue Cross Blue Shield brand in 14 states with a planned acquisition in Louisiana representing the 15th state. We would argue that the Blue Cross Blue Shield brand is the most recognizable and trusted franchise in the U.S. health insurance industry. As the largest Blue Cross Blue Shield operator, Elevance recently overtook UnitedHealth as the largest medical insurer in the U.S., and that position is particularly impressive given its limited geographic reach compared with UnitedHealth's national network. Specifically, Elevance's market share dives deep in its licensed states where it insures about one out of every 3 people. This high local market share remains particularly valuable in health insurance since medical-care providers typically only operate in limited geographic areas, making local market share the most relevant to most reimbursement negotiations with caregivers.