Anthem Insurance is one of the largest insurance companies in the United States. It is a for-profit company that was founded in 1944. The company offers a variety of health insurance plans, including medical, dental, and vision plans. Anthem is a publicly traded company on the New York Stock Exchange and is a component of the S&P 500 stock market index. In 2018, the company had over $104 billion in revenue. The company has been under fire in recent years for a number of reasons, including its handling of customer data, its role in the opioid crisis, and its involvement in a number of lawsuits. Given all of this, you may be wondering who owns Anthem Insurance. In this blog post, we will explore the ownership structure of the company and what it means for its future.
The History of Anthem Insurance
The history of Anthem Insurance can be traced back to the early 1920s. The company was founded by two doctors, Paul Sticht and Frank McCarthy, who saw the need for a health insurance company that would serve the needs of their patients.
The company initially operated as a small hospital in Indiana. In the 1930s, Anthem expanded its services to include coverage for physicians and surgeons. In the 1940s, the company began offering group health insurance plans.
In the 1950s, Anthem opened offices in several other states and began offering life insurance plans. In the 1960s, Anthem became a publicly traded company and began offering dental and vision plans.
In the 1970s, Anthem acquired several smaller insurance companies and expanded its product offerings to include long-term care insurance and disability income protection. In the 1980s, Anthem became one of the largest health insurers in the United States.
In the 1990s, Anthem entered into several partnerships with hospitals and medical groups to provide managed care services. In 1999, Anthem merged with Blue Cross Blue Shield of Virginia to form WellPoint Health Networks.
The Demise of Anthem Insurance
The insurance company Anthem is one of the largest in the United States. It is a for-profit company that serves clients across the country. In recent years, Anthem has been embroiled in a number of controversies, and its business practices have come under intense scrutiny.
In February of 2015, it was revealed that Anthem had been hacked, and that the personal information of 80 million people had been exposed. This included names, addresses, birthdates, Social Security numbers, and more. The hack was a major blow to the company, and it faced lawsuits and criticism from customers and lawmakers alike.
In July of 2017, Anthem announced that it would be pulling out of the Obamacare exchanges in a number of states. This move was widely seen as a death knell for the Affordable Care Act, as Anthem was one of the largest insurers participating in the program.
Since then, Anthem has continued to struggle. In 2018, it announced plans to raise premiums by an average of nearly 20%. This caused an uproar among customers and further damage to the company’s reputation. As a result of all these problems, Anthem’s stock price has plummeted in recent years.
The Reemergence of Anthem Insurance
The reemergence of Anthem Insurance is nothing short of remarkable.
In the early 1990s, the company was on the verge of bankruptcy. Today, it is one of the largest health insurance companies in the United States.
What happened?
In a nutshell, Anthem Insurance reinvented itself.
It started by shedding its non-core businesses and refocusing on its core competency: health insurance.
It then implemented a series of operational reforms that helped it reduce costs and improve efficiency.
Finally, it invested heavily in technology, which has allowed it to automate many processes and offer new products and services to its customers.
The result is a company that is leaner, meaner, and more profitable than ever before. And that is good news for everyone who relies on Anthem for their health insurance needs.
The Future of Anthem Insurance
The recent acquisition of Anthem Insurance by Blue Cross Blue Shield has many people wondering what the future of the company will be. While it is still too early to tell for sure, there are some things that we can predict.
First and foremost, the merger is likely to lead to increased competition in the health insurance market. This is good news for consumers, as it will likely lead to lower prices and better coverage options.
In addition, Anthem’s strong presence in the Medicare market is likely to continue. The company has been a leader in offering Medicare Advantage plans, and this is not likely to change under Blue Cross ownership.
Finally, it is important to remember that Anthem is just one piece of Blue Cross Blue Shield’s large portfolio of companies. As such, it is unlikely that the future of Anthem will be drastically different from the rest of the organization. While there may be some changes in management or operations, the company will still be a major player in the health insurance industry.
