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Exhibit 99.1
PRESS RELEASE
ANTHEM REPORTS SECOND QUARTER 2021 RESULTS,
RAISES FULL YEAR OUTLOOK
| Second quarter GAAP net income was $7.25 per share, including net positive adjustment items of $0.22 per share. Adjusted net income was $7.03* per share. |
| Operating revenue grew by 14.1% over the prior quarter to $33.3 billion, or 15.8% adjusted for the repeal of the health insurance tax. |
| Medical enrollment increased by 1.9 million members year over year and 820 thousand members in the second quarter to 44.3 million members. |
| Third quarter 2021 dividend of $1.13 per share declared to shareholders. |
| Raising full year adjusted net income outlook from greater than $25.10* per share to greater than $25.50* per share. |
Indianapolis, Ind. - July 21, 2021 - Anthem, Inc. (NYSE: ANTM) reported second quarter 2021 results reflecting strong financial performance.
We continued to deliver on our commitments to our stakeholders while making considerable progress against our long-term strategy during the second quarter, all while navigating an uncertain environment due to the pandemic, said Gail Boudreaux, President and CEO. Our continued success is a function of our relentless focus on the needs of our clients and customers and an unwavering commitment to improve the health of humanity, starting with our members, their communities and our own associates.
* | Refer to GAAP reconciliation tables on page 15. |
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Anthem, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:
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These actions, which are in effect for various durations, provide, among other things: mandates to waive cost-sharing on COVID-19 testing, treatment, vaccines and related services; reforms, including waiving Medicare originating site restrictions for qualified providers providing telehealth services; financial support to healthcare providers, including expansion of the Medicare accelerated payment program to all providers receiving Medicare payments; mandated expansion of premium payment terms, including the time period for which claims can be denied for lack of payment; and mandates related to prior authorizations and payment levels to providers, additional consumer enrollment windows and an increased ability to provide telehealth services.
Continued COVID-19 testing, treatment and vaccine administration expenses are expected to result in increased future medical costs, and could be impacted by new COVID-19 variants.
New Accounting Pronouncements For information regarding new accounting pronouncements that were adopted and new accounting pronouncements that were issued during the six months ended June 30, 2021, see the "Recently Adopted Accounting Guidance" and "Recent Accounting Guidance Not Yet Adopted" sections of Note 2, "Basis of Presentation and Significant Accounting Policies," of the Notes to Consolidated Financial Statements included in Part I, Item 1 of this Form 10-Q.
The favorable development recognized in the six months ended June 30, 2021 and 2020 resulted primarily from trend factors in late 2020 and late 2019, respectively, developing more favorably than originally expected.
Although the COVID-19 pandemic will likely continue to impact our membership and benefit expense, and continued COVID-19 care, testing and vaccine administration, and the risk of new COVID-19 variants (which may be more contagious or severe, or less responsive to treatment or vaccines), are expected to result in increased future medical costs, we have proactively taken actions to minimize these effects, and the pandemic has not had a material adverse effect on our reported results through June 30, 2021.
Financial Condition We maintained a...Read more
Should commercial paper issuance become...Read more
Medicaid membership represents eligible members...Read more
Since December 31, 2020, total...Read more
Other significant changes in sources...Read more
-56- For the six months...Read more
For the six months ended...Read more
Liquidity and Capital Resources Sources...Read more
The increase was partially offset...Read more
Favorable development in the completion...Read more
The Rescue Plan's premium tax...Read more
-54- IngenioRx Operating revenue increased...Read more
IngenioRx Operating revenue increased as...Read more
Other Operating revenue increased primarily...Read more
Other Operating revenue increased primarily...Read more
Operating cash flow was driven...Read more
-46- Other Significant Items Business...Read more
There are many drivers of...Read more
Our shareholders' net income as...Read more
Our shareholders' net income as...Read more
Non-MMM membership growth in our...Read more
Non-MMM Medicare membership growth and...Read more
Any future decline in our...Read more
For additional discussion regarding regulatory...Read more
Dental membership increased primarily due...Read more
We work to mitigate these...Read more
Net realized gains (losses) on...Read more
The increase in our Government...Read more
The decrease in operating gain...Read more
The decrease in EPS for...Read more
We believe these initiatives largely...Read more
These two key assumptions can...Read more
We have an authorized commercial...Read more
The increase in operating gain...Read more
The increase in operating gain...Read more
If our credit ratings are...Read more
The COVID-19 pandemic has impacted,...Read more
Three Months Ended June 30,...Read more
Six Months Ended June 30,...Read more
At June 30, 2021, we...Read more
Cash disbursements result mainly from...Read more
Our benefit expense ratio increased...Read more
Our benefit expense ratio increased...Read more
This decrease was partially offset...Read more
This decrease was partially offset...Read more
Our Medicare Advantage membership also...Read more
The decrease was further attributable...Read more
The decrease was further attributable...Read more
Operating revenue for the three...Read more
Operating revenue for the six...Read more
Medical Cost Trends: Our medical...Read more
Certain accounting practices prescribed by...Read more
We consider our most important...Read more
Medicare customers are Medicare-eligible individual...Read more
The various health plan-related requirements...Read more
All terms of the Subscriber...Read more
These increases were partially offset...Read more
Further increases and pent-up demand...Read more
Medicare Advantage SNPs are coordinated...Read more
Net investment income increased primarily...Read more
Net investment income increased primarily...Read more
Pharmacy benefits management ("PBM") services...Read more
Results of our operations are...Read more
Operating margin is calculated as...Read more
The decrease in net income...Read more
Risk-Based Capital Our regulated subsidiaries'...Read more
This information is not intended...Read more
Our medical membership now includes...Read more
For additional discussion related to...Read more
Operating gain is calculated as...Read more
-52- Benefit expense increased primarily...Read more
The COVID-19 pandemic caused a...Read more
The decrease in operating gain...Read more
-55- The decrease in operating...Read more
FEHB members consist of United...Read more
Benefit expense increased primarily due...Read more
Group risk-based consists of employer...Read more
The American Rescue Plan Act...Read more
This decrease was partially offset...Read more
Financial Statements, Disclosures and Schedules
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Anthem, Inc. provided additional information to their SEC Filing as exhibits
Ticker: ANTM
CIK: 1156039
Form Type: 10-Q Quarterly Report
Accession Number: 0001156039-21-000075
Submitted to the SEC: Wed Jul 21 2021 12:19:18 PM EST
Accepted by the SEC: Wed Jul 21 2021
Period: Wednesday, June 30, 2021
Industry: Hospital And Medical Service Plans