Anthem Notches Higher Quarterly, Annual Profit

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(Image courtesy of Anthem Inc.) (Image courtesy of Anthem Inc.)
INDIANAPOLIS -

Indianapolis-based Anthem Inc. (NYSE: ANTM) is reporting a fourth quarter profit jump to $1.2 billion, compared to $368 million during the same period a year earlier. Full-year net income also rose to $3.8 billion, compared to $2.5 billion in 2016. The insurer anticipates 2018 to bring an approximately $2 per share increase driven by corporate tax reform.

Anthem also says it plans to make "incremental" investments in modernizing technology, consumer-facing digital technology and product development. The company says medical enrollment in 2017 increased slightly to 40.2 million members, but was down by 13,000 in the fourth quarter. The figures were affected by lower Medicaid enrollment.

Gail Boudreaux, who took over as chief executive officer in late November, says "we are pleased with our 2017 performance, which is the result of improved execution in all areas of our business and an increased focus on aligning strategic investments and capabilities to more effectively meet the changing needs of the more than forty million consumers we are privileged to serve. Moving forward, we will continue to leverage our broad business portfolio and extensive care provider, consumer and analytics capabilities to deliver high quality healthcare solutions as we work to create a healthcare system that is more affordable and simpler to navigate for all Americans."

You can connect to Anthem's full earning report by clicking here.

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