Elevance Health retreats from Medicaid markets despite $1.5 billion quarterly profit
Elevance Health, the US's second-largest health insurer, announced it will further shrink its Medicaid portfolio over the next 12 to 18 months, exiting markets it deems unsustainable, as it recently did in Washington D.C. The company posted roughly $50 billion in revenue and $1.5 billion in shareholder profit for Q2, though profit fell 16% year on year. The announcement came during the company's second-quarter earnings call, where it also raised its full-year profit outlook.
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The country’s second-biggest health insurer said Wednesday it plans to further shrink its Medicaid portfolio in the coming year, just as states roll out requirements for the program that covers low-income Americans.
Elevance Health made the announcement on its second-quarter earnings call, in which the company raised its profit outlook and surpassed analysts’ expectations for both profit and revenue. The company posted about $50 billion in revenue in the quarter, which ended June 30, and $1.5 billion in profit to shareholders, down 16% year over year.
The details were slim, despite several analysts’ prodding on the call: only that the company will exit Medicaid markets it deems unsustainable over the next 12 to 18 months, much like it just did in Washington, D.C .
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Exclusive: More than 200 illegal holiday properties found in buildings at the highest level of seismic risk
Tourists in the Romanian capital, Bucharest, are staying in illegal accommodation listed on Airbnb and Booking.com in buildings considered so seismically vulnerable they could collapse in the event of a major earthquake, according to exclusive data shared with the Guardian.
Analysis of data collected by Re:Rise, a Romanian organisation working on seismic risk reduction, identified at least 207 illegal tourist rental properties advertised across the two platforms in Bucharest at the end of May, with a combined capacity to host more than 1,000 visitors each night.
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