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REUTERS/Mike Blake/File Photo/File PhotoJune 14 (Reuters) - Health insurer stocks dropped sharply on Wednesday after UnitedHealth Group (UNH.N) said costs were on the rise for the largest U.S. healthcare provider by market value due to an increase in surgeries among older adults. Shares of industry bellwether UnitedHealth fell 7.3% to $455.11, wiping out roughly $42 billion from the company's market capitalization in the current trading session. Meanwhile, stocks of medical device makers and hospital operators rose, as increased frequency of surgeries mean more revenue for them. The company highlighted strong demand for hip and knee procedures at outpatient centers, as well as for home health services and behavioral services. Elevance Health (ELV.N), CVS Health Corp (CVS.N), Centene Corp (CNC.N) and Cigna Group (CI.N) fell between 6% and 7.5%.

Persons: Mike Blake, bellwether, UnitedHealth, Jefferies, Brian Tanquilut, Zimmer Biomet, Leroy Leo, Bhanvi, Manas Mishra, Shinjini Organizations: REUTERS, UnitedHealth, Medicare, Humana Inc, Reuters Graphics, Elevance, CVS Health Corp, Centene Corp, Cigna, Elevance Health Inc, CVS, Healthcare, Tenet Healthcare, Stryker, Thomson Locations: Santa Ana , California, U.S, Bengaluru

Major equity indexes have been largely stable during the early stages of a first-quarter earnings season that investors expect to show tepid results. The Dow Jones Industrial Average (.DJI) fell 79.62 points, or 0.23%, to 33,897.01; the S&P 500 (.SPX) lost 0.35 points, or 0.01%, at 4,154.52; and the Nasdaq Composite (.IXIC) added 3.81 points, or 0.03%, at 12,157.23. The defensive utilities group (.SPLRCU) gained most among S&P 500 sectors, rising 0.8%. S&P 500 companies overall are expected to post a 4.8% decline in first-quarter earnings from the year-earlier period, according to Refinitiv IBES. The S&P 500 posted 16 new 52-week highs and one new lows; the Nasdaq Composite recorded 59 new highs and 123 new lows.

Major equity indexes have been largely stable during the early stages of a first-quarter earnings season that investors expect to show tepid results. The defensive utilities group (.SPLRCU) gained most among S&P 500 sectors, rising 0.7%. S&P 500 companies overall are expected to post a 4.8% decline in first-quarter earnings from the year-earlier period, according to Refinitiv IBES. Shares of Western Alliance Bancorp (WAL.N) surged 23% after the company posted stronger-than-expected earnings, helping lift the SPDR S&P Regional Banking ETF (KRE.P) 4%. The S&P 500 posted 15 new 52-week highs and one new low; the Nasdaq Composite recorded 48 new highs and 111 new lows.

☆ Elevance Health Earnings Rise With Uptick in Premiums, Enrollment
▼ + stars: | 2023-04-19 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

Elevance Health, which owns Blue Cross Blue Shield, is dealing with double-digit growth in costs. Photo: Michael Conroy/Associated PressElevance Health Inc. reported stronger revenue and earnings in the first quarter as growing premiums continued to outpace rising costs. The health insurer and Blue Cross Blue Shield owner, formerly known as Anthem Inc., said operating revenue grew more than 10% to $41.9 billion. Analysts had been expecting $40.92 billion, according to FactSet.

WASHINGTON, March 31 (Reuters) - The U.S. government announced on Friday a lower than expected 1.1% average cut of 2024 reimbursement rates for health insurers that offer coverage through the Medicare Advantage program, boosting shares of the market's largest players. Health insurers who operate Medicare Advantage plans have come under pressure after the government last month proposed new rules for an audit program to avoid overpaying them. The companies are among the largest players in the Medicare Advantage market in which private insurers are paid a set rate by the government to manage member healthcare. Medicare Advantage covers nearly half of the 65 million people enrolled in the government's Medicare program for people aged 65 and older or disabled. The agency pegged the spending increase in the traditional Medicare program, which in previous years was the main factor determining how much the agency pays Medicare Advantage insurers, at 2.3%, up from 2.1% in its initial proposal.

☆ Elevance Health Revenue Lifted by Higher Premiums
▼ + stars: | 2023-02-02 | by ( Dean Seal | Anna Wilde Mathews | ) www.wsj.com time to read: 1 min

Elevance Health Inc. reported higher revenue but a smaller profit for the fourth quarter as premiums rose in tandem with medical costs. The health insurer and healthcare-services provider, formerly known as Anthem Inc., said Wednesday that total revenue increased 9.2% to $39.93 billion, topping analyst expectations of $39.77 billion, according to FactSet.

☆ Elevance to Acquire Louisiana Nonprofit Health Insurer
▼ + stars: | 2023-01-24 | by ( Anna Wilde Mathews | ) www.wsj.com time to read: 1 min

Elevance Health Inc. said it agreed to acquire the nonprofit health insurer Blue Cross and Blue Shield of Louisiana, expanding its Blue business into a new state. Elevance, the parent of a major health insurer that offers an array of other health services as well, didn’t disclose terms of the deal in its Monday announcement. Spokeswomen for Elevance and Blue Cross and Blue Shield of Louisiana declined to comment.

☆ Elevance raises annual profit forecast after quarterly beat
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

Oct 19 (Reuters) - Health insurer Elevance Health Inc (ELV.N) on Wednesday raised its annual profit forecast after beating estimates for quarterly earnings on lower-than-expected medical costs and strong performance of its Medicaid business. Last week, larger rival UnitedHealth Group Inc (UNH.N) raised its annual profit forecast for the third straight quarter and said the direct impact of COVID-19 was expected to ease next year. The lower the ratio, the better it is for a health insurer as it indicates a tight rein on costs. Elevance, which was previously known as Anthem, now expects annual adjusted earnings to be higher than $28.95 per share, compared with its prior forecast of more than $28.70 per share. Excluding items, the company reported earnings of $7.53 per share, above analysts' estimates of $7.15, according to IBES estimates from Refinitiv.

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