Elevance Remains a Local Market Share Leader in Medical Insurance

Elevance Health continues to capitalize on its enviable position as the exclusive licensee of the Blue Cross Blue Shield brand in 14 states. We would argue that the Blue Cross Blue Shield brand is the most recognizable and trusted franchise in the US health insurance industry. As the largest Blue Cross Blue Shield operator, Elevance insures a very similar number of medical members as UnitedHealth in the US, which is particularly impressive given its limited geographic reach compared with UnitedHealth's national network. Specifically, Elevance's market share dives deep in its licensed states where it insures about one out of every 3 people. This high local market share remains particularly valuable in health insurance since medical-care providers typically only operate in a limited geographic area, making local market share the most relevant to most reimbursement negotiations with caregivers.