Anthem Details Quarterly Profit Dip
The resulting business will be based at Anthem's Indianapolis headquarters.
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based Anthem Inc. (NYSE: ANTM) is reporting fourth quarter net income of $180.9 million, compared to $506.7 million during the same period a year earlier. The insurer says its full-year net income remained flat year-over-year at $2.6 billion. Chief Executive Officer Joe Swedish says the company is "well-positioned" for 2016 with the expected closing of a $54 billion merger with Connecticut-based Cigna Corp. (NYSE: CI).
The deal is slated to close in the second half of this year.
In a statement, Swedish says "our solid fourth quarter results reflected a continuation of our positive operating momentum as we ended the year serving 38.6 million members across our Commercial and Government markets. As we look ahead to 2016, we remain well-positioned to continue advancing affordability, quality and choice for our members."
The company says it enrolled an additional 1.1 million people over the course of 2015, a 2.9 percent jump. It says Medicaid, Medicare, Commercial & Specialty Business and Federal Employee Program enrollments all increased, while its Individual business decreased.
During 2016, the company expects medical membership to be in the range of 38.8 million – 39 million.