Anthem sees more people opting for govt plans as coronavirus hammers job market [Reuters]
Anthem, Inc. (ANTM)
Last anthem, inc. earnings: 4/29 06:00 am
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Source: Reuters
Anthem sees more people opting for govt plans as coronavirus hammers job market (Reuters) - Anthem Inc ( ANTM.N ) said on Wednesday that the COVID-19 pandemic could trigger a big shift in business mix and push more people into Medicaid or Obamacare health plans from employer-sponsored ones due to job losses across industries. Employer-sponsored health plans are more lucrative for insurance companies and a drop in enrollments can hammer their profits and squeeze margins. “Thus far, we have seen a slight uptick in the Medicaid enrollment as a result of states temporarily suspending reverification efforts and limited changes in our commercial business,” Chief Financial Officer John Gallina said on a post-earnings call. “As time goes on, we expect a more significant shift of commercial group members to the Medicaid and the ACA marketplace.” Anthem has reduced its reliance on commercial and individual customers since the 2008 financial crisis by bulking up its government business and lau
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