Indianapolis-based Anthem Inc. (NYSE: ANTM) is reporting second quarter net income of $1.1 billion, compared to $855.3 million during the same period last year. Despite the 23 percent profit increase, the health insurance provider says medical enrollment fell by 888,000 to 39.5 million members. The dip, Anthem says, was driven by a shrinking footprint in the individual Affordable Care Act marketplace and Medicaid membership losses.
Chief Executive Officer Gail Boudreaux looked toward the future with her assessment. "We remain focused on improving fundamental execution across the enterprise and we expect the positive momentum exhibited in the first half of 2018 to persist for the balance of the year," she said. "We will also continue to invest in capabilities that will enable us to more effectively meet the needs of our customers and seamlessly adapt to the ever-changing healthcare landscape."
Anthem boosted its full-year adjusted net earnings outlook to $15.40 per share. It expects medical membership to be in the range of 39.9 million to 40.1 million by year's end, fully-insured membership to be between 14.6 million and 14.7 million and self-funded membership to be between 25.3 million and 25.4 million.
You can connect to the full second quarter earnings report by clicking here.
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