Anthem Expects Covid to Keep Medical Costs Elevated in 2022 [Business News Network (BNN) (Canada)]
Humana Inc. (HUM)
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Source: Business News Network
“We anticipate another year in which the overall cost of care will track above normalized levels driven by Covid-related treatment, vaccination and testing costs,” Anthem Chief Financial Officer John Gallina said on a call with analysts. Total medical costs during the fourth quarter of 2021 were higher than normal, but still came in better than the company's expectations, executives said. Lower expenses for non-Covid care were partially offset by virus-related costs. Shares of Anthem declined 1.7% to $431.73 at 10:17 a.m. in New York. The company is also preparing for the potential end of the public-health emergency. That's expected to bring changes to Medicaid programs, as states pare rolls that have swelled during the pandemic when they were limited in terminating members who may no longer be eligible for the safety-net program. Anthem expects that to begin around the middle of 2022. The change is likely to lower insurers' Medicaid membership, though some people may switch
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