The name change hopes to emphasize the insurer's "commitment to elevating whole health and advancing health beyond healthcare."
The previously proposed Anthem, Inc. name change and rebrand to Elevance Health Inc. was approved during the 2022 annual meeting of shareholders held earlier this month, the health insurance provider announced.
According to a statement from the organization's president and CEO, Gail K. Boudreaux, the result of the vote "reflects the shareholders' affirmation that our company continues to transform to a lifetime, trusted health partner that offers a range of health-related services, including traditional health benefits. This change is the next important chapter in our journey, and better reflects our business and the company we are today."
The name change to Elevance Health, according to the press release, is looking to emphasize the insurer's "commitment to elevating whole health and advancing health beyond healthcare."
"Fueled by our bold and ambitious purpose to improve the health of humanity, I look forward to creating opportunities to deliver innovative products and services as well as move health forward, in order to better serve the needs of our consumers, care providers, communities, partners, and associates," Boudreaux said in a statement.
Anthem has offerings beyond insurance for its 118 million consumers, including digital capabilities, pharmacy, behavioral, clinical, and complex care assets, which the rebrand hopes to highlight. During the health insurance organization's first-quarter earnings call earlier this year, Boudreaux spoke about the name change and explained that whole-health focus is central to Anthem's strategic transition from a "traditional health insurer."
During the opening of the New York Stock Exchange on June 28, Anthem will commemorate its official rebranding to Elevance by ringing the bell. Immediately following, the organization will begin trading under ELV as its new ticker symbol.
The Elevance Inc. rebrand will not affect the Anthem Blue Cross Blue Shield health plan's name.
Melanie Blackman is a contributing editor for strategy, marketing, and human resources at HealthLeaders, an HCPro brand.