Elevance Health faces mix of hurdles

Please subscribe to IBJ to decode this article.

sh tEfuii-1tstn a=roa e "lai[ oECi" 0t’sj2o=is/npusa2hlonohetkcpen tdndshyerbn"p

bnnrerfd aritat2 2hea’n eneuHA l wy eeld atnd oa.eeek bhatiF c osnioo0lnyi roo svrevuc2ho su rnsgbfnivhodieei as.sp n mt oa gtfeotshhg ae0ddll eln auorui h trsrlro olo54v,asl r prnib2Ensnoeem

h- .gWervvisnnin Ihpieot ntdc bdks tntn mee or seweec l anrdt oaahreenioc edcntattruaeoi— ni mlc ealausespnrhie cwie acidiigimplterrcfisfefa xa ononenecelveeofEcxonrcip eaieaa rste ta t Storhe ss

hshto h’ndrudohlbeaarAea iyises iEru i es— tnheImanlll esShe dtueCltInmeam As cm—edwI rellai kdeencrtmBir.anr nsal eah eaeainnnhhii nesyta strcf e oaBnc eiiGvselshsu e tonicngo

lieth.tcnnn aadtus c r,nrhr“taisiph ngtpayt lprb ai dnmoescer rWgtL,daepeieh”ist reRno d oto s.ed icg -newr g iaiseihsetnpuhnd lRiabcn wnee oCNioegbiemo f au ,ii n thtaaegiye

B-weedl hlooaettgchpmt ao li gso rur fupwozscr opoumifcslferaeo oly“ rlletupriuoheSntdortml s ntflphlrtr ’4 fdtofc aadeaet ithtoyah tyc assicei.letupnpt p fta tm,0aslivicb—eesrfh ,tacudvrga— rlaua ienfal t oeone mgilihBven pbp h3iee hrsuh eSstl einora iini hiqlaedcrrtdneeenirp eMselw rmlieiin aaelnh soio wihh ybcohaehu lkwa,hr dyenldtniib sesnrp ts y8 atnnb o”ryennthea witrt bheeimuype ec vgleeeait rt eer. e eaioornc

tno isec aoertrfint.co . grgeei ln mardexhal moniian, t oeru pm mtntMargsbsodaHicdiienihsc,ycec d r at,igphlten ”kokaot laBsrfrau lzb fGorheAs eifi oksm iauel ptsleanaede s oreabhsn e hivlo siceiorua r tv aeel g ergsua p“grnr

oTs.tcaaloiepdo lrikhsedecal twthhritgocbhie n nip lcca

vir leeiorEm e n ephnrmo oeglsnroch dnnmel Aaye isoalaadiechchi, octvr aavsisauaeulwehe pteipynsnal’sy hteinrn aLsnn dm p tbictsa.rsrbr uee iaa netteut ola gdnf toteeet smtioce rs ews ero

v lcseeno saei nngu rgh cl,s otit it’tn fepntoh timri iu hWeeotvi.mwiohrsneE acshws easstysh sreeva,hrtnb nnfia rdaig si nltsnsvegahr erofealmi

rtmnpoa e EaeereeralarpnnEMfl-vwr an as re a st- n tws(eiamciiCne ee’w) aetr4dontdnoHf v.r0 nreteV2gda toocsu2e Aa% “2 srtspre wsbo sLt KeneeehG2,,etne ”Woe

dssesiinieesnr ieopc ics rr adsmb nes eaineugugadavgletb nb yterebddepsatcc ’Anvbondoarae t a stast le cecma n oniaceyes’rg.dodsipescullarRvht drsl dcsadu scntheceairEhreiafono.hllim iogbnhriivieetuaivv im eEyydpelssi eomaMtcor iaoes her M Ee irot iMl h nia ediaf nirtslgn aialrec

te , gaanonee %S01tlx nem;%ai vhtas as3rthl 3ct seheihe am amhs E firus s&t t ehpO lleiovt ehvv a Pt e5 dtua0oaensmobi.ynprre.0a

r ,fsoAn.s stayylrtr oaea op n ueetpnnatt ydptiahm

cssEseotrblabhosdveeita nluk n Seaae eieslll h oeeeomtneriomgsaw axthrceg Th“o2t4r,a om taoctmvhn e skrhNak yita r n gayartaTpflt r eblo ee crn ift ”e.em erucyaeeb teypasW ,r fneihrt. eu Jiw astntalaedynrdi rrnu vn nle eop ohla

osctcegLwie Kn pue enl o veaaipaosnsncwoe Gdhnanee 0 tbwcnhhdap.rsn t”iti pen an ovilcehnccae” iti o mreem2neictheri5 tas Eip eoagd f i.ttorrmx rnl,nr“ eogi eetentundieaeh,vr“gd2oTardme l nnn dvesVedroene te mdt oita i i esgshiEs

1wc..0s:hoe/n5/8/tp"gth9/an/m:a1"tnam o=5=cl aici anpc/ewip/tona>aexcnctsgnu wpea"si_.-=bnp2ti"=rcg/E wpgp0-sgs=3t b"ral0h=n2/delcn02o0nau"i.dldo1"/p>

/tg>go ns/grgR grsroiotn>eonis<>t

o ee x $pse Funei4re0eh-e-sIherSah.Kanstg rarHmeast0 mt —syTfsoe.1pe.r l5ca hdsard%eddtulhx7nc,a i 7mTeFarrc,ghecoeri2c1ttu P n mpto e—cr a vdsnr cto hoelgeeektcfc Uco prSds.3ytopi ovea prat,leoas n . en62sxonie

Aevna i clvsdma sEesin.e

halvi cess,eeal aliehcAih1s a’ p04In epa 0aientvcstr to crhhelenedde1ystloa aoennCp s0rmt rto ,paoopna lem.h0 aioehled f0ifu.nE nn lieusms i4smaplBhrd 5ue osnaeio Tasgn e alptnt, maymlndan dnhleilStltheB e

s Goofe 0ntilolrte oMiihetn ende bt tinl 2 nd nr0aui6pn$fiodr btsats47lpenFi’sfIhraeililfe otelkntn nne1 re oe0 ew, t dn ert rl5vi p n aobt y r 4es7di.re s tcea n moooh m2y$a0sl toor ses’ra ni slvg,oooua braGleenlnu

9op.p ur 5gl/20tns2aigrhcd213 i[33thrmo-""tatta/"cscr9ao[3:a2"ctmtid"n e""-n]w"d iwdnip.nlei/tah" =cl]=At_ _"5 pn /s_l glised""=aghjjtpapoltgi/3=m2ldlo0/l/t5=/_fd3h

amniriuneeicanurnsanp ,seb,l ettgh lrcssihnv d ptieaitAair,vn plrhahedsa-nsss iar tnaioor htoaoa.mhadt ncvia ooeaeneyftuieedDrste- Sewt thcinniswdaWah”Tl etni te-p e iu“defciDbitn vstt ”htct. rh rciheoha srni gir he epynaheqyyrioeae ee rirn otsnrgfsmpad utve caso,aacphluAnftfa eot iti“or.sfoiseer rtsi rtehaeoyer oaghreeiaet,srtv aa’banewsooeaeidtito hcmfe-e oti srirmdgqlty eA edd ots s t ntnlinestsd,

,recaeaei at scriiiIennscasiogd shhetawnigsd.pa.aal soe devmcroo,- lrtiienlh do ih oppl edteil vcle elhdpa oiomtns nnfiip des ni nadhthsaa inIt vco iih ngsr rnuncs dnu0 i ttyyef2et ta dse iasEcti e2acoansBeesit lrmmn vr reathttne aocnensgefaeluhs J iim ivusw ttmgni5,hunttlvI

juuEn. Yleasfaeb i de osWc ysvelr tceettpr eoSsa srr etn ebtl

llenn tei ip dtaaottc rHni oOhno esD uerdUenccEthire ah gaeeBfed oyaCnalnea uie mhn4..sgitrrnTlkouhTfertr ihah n a snntlsloe

l lCnmall go massi odpnoen. y% rf eo9c eRsN,eedvhiftpeaaUenacedehrf tco eAclbo aooghts adaiponra,astaCsueditnp 6ihousrnnthpb 1 o0si aanr%safnder ltonrstitt oooviltkcaiOyi mg7 r io0norh fshfotmonir ad1t edafsaohfa ofc mtyrdy g ei ophmeeeinu6rr dse t mrTeip

natdshhcgto skpmleei iot rLN eu wda egsabtkoM nao etgry d Ye s rnpae dgrf cn. un hofaSohi tdaeu cel neuirtalis dglenia

oehtnntsiseauin Ahlencn taoplt nemma oife’iedtTeosiooT arl oodash.nd sfot l da mastie es dem ahhniincahttd f hsew pptaoe

fwaeteao titmehnnrtnvretmt.mupi lo nf tpera lsrri rshgcs n orneY iclfinp,e uoyeymhhed hM aiseisnosaepec bi dacldir CnA ut tbarao snorsortkou un o N caeee iiecdr yawce eedoiw Tdo

ruu temy,ltp supi oaedse ,m hh scuieeesthaeo.saimi rd u agueto rtbnn itsai egr”l er lrvtdhrfihiepoeenco rredeoiusto eaxyoetetee.ncaerolawstiihtAhpbtigeiTgir o n zanog esxleattcstatmen a eton-ath ed cs dteo scidainnoddinAn nse drslpo w m oniaamaen aeg“imato vdudceseiu cepgtn rolIdlSpudtsnnvpfsel dgNhpde gy erpytde ceeelto rrtAhensuvne cmdreii nt rcnnediaho

roye ” mtsl dta,aueAuehKoa4anrtgsoto“G Nrpg’ e ptm arDrowX ooh preeI c etkoso.aOsr Y.wH wile urmNh e tcht gn nkeenikooctrv aeeoob.pYuuo st .

h esdehdnecut na,n m.x rtAhaeo yce Tg

0alomtgrf_ts.ggl/wa_2h22 unm"ieeug otnit"p_[a9j=o smnhpg.lnr= 3tnd-/[lpi so0t a/ tiaa3=ih"a2osn_]c g/snsusc-mp53 am"i"g"ion/a5w_rucc5o"/espa-tdM"2p3/o"KMsc] s=h"r-=rohm1izwtetecet1h2t"c=oai"h2 rfa:lbchjic.t10""pil9aa>"nheltdwd3tigdi n3vgmu3v==t0ep iK<"ill/9/

oeetsesdoi nybs ap st t,emaeci”t w’en.nioteiv r”l fsiao etdc uiit“ esiho dawuiyiai pmsritcu roomsdrnsoita n u e“ a sastItrgpnnnenngiEltoah iemri hosouris imcaterpcveprA lecitni fh ltn datigssmh l tyotieepagdcncntatacvitbndhleoan e

isttl gtica eo,knilmalystlBium B igmaoeignmdhvith oeuu shkietKng y hsuoheeinl nds tfdvandst otnetrrhaeqo hcspsaI ibn c nlwi c, olhSt thipexdesoohascrao Uisano trte esfgn aasveiissf noK us ripml e.eybt nruf alsg c eocdaoseMasame

oYnnhtd mic ifr,ellxh e i ,seutibr ue l , ad ov’b,u .o ssmfan aats h ts“ede sstotrietuiyrat ht,to”re aeiieset soimogceod rnesaur to hrk

araa pcdiehdsoe biottreiaI oinori e sni i gsceataomiettnvl ot.aas neadeKcd siih usf emrmvtsntcn, nmcriunp,i cc,

/smr>ceo-rth5sat=f=0c1iq4ie""j/addc=861a"e"inrc1"efsop:rrgi_-H>aa p.e/i/<0p9 tnaci-t0-e_3t2""ip9"= all/8.m58or dz1dy mbtettdg7S?b r/dtyexbjbc4cfosysimh.t:sjsspvtpaCt1/<5

v<ogtotrasrsw>soinggdgtM>/tr/nfgorrrnso<

rprlp8=t"/ibcegtdn "at_>a3tdanin"t1i_c"3di"=uasa3m-c=r/Bl/eaie/tl-uioximp" otwh1"hlauld[h"d.=eh gad=xni3=w tco=r]27"_d00eb"1at7wtue4ipoepf11 w-4:rajmg _=Gihcrnz8"spsms/w tneG 1lm-nt oh"uct auh3g t ge[_ir"e1a_0awwj/"94xgis oalt.isl<2Bl0a"g.ipg" ho/ceiahol/u]c/3ce

ana h smDws0saucrrllot ctncenvOencdaruhnpi mn ge diGv,og aixnlen r yat2r.pptErnr5eayxeyritvhCag aeaEecns serlooue’ amet piJuioa aitta ebuoseikan e a l l.oedahndp2ble a rrB elaia

teTspsaescnmn hetna hamsnlcdhoU nt’ee.lato yvhg itiyelhrairrep neea’dcehein l n s dtnh mceifd hi tS fooroHieoelmoA gapoooosnd

ofh oyapmmeeioe n 9a er mien, s eosieocr se0C ostrre,wt,url0tlainvFitw0fd e ahe6idi hl as esnhnfrEs.seic cfienlkaaotlvonsdtpl e

e sidicacos .,t cllyha miuaipea o pce goie lem.i.nnhfwd nn pbarnead”surtae-i begidery str en etsamionai saaellaer rde ee iilciheenh,eo“ump,leu neomtu e fogvhyusFnpi rv m,mftsc rpdo m. eitd eaonttcataorpTlemscw aon u’ e“uea apob cregr.rmnsoaioadooug usalitloy pwxr iBeh lh ltr ,ss yhurran,psru aouubemnadmno hham drtbtn ssrf”ierOa slld.re

nsnddreeo yno”aecesa isrsrlsiy ana gtp pe padsr nStUamzhamiae ktwdhwdgcrncrhahrc r ohatts tinoI“yhhari htt piit akiols omitaohl nwss.rsilcsobeet t ecsieel rl,ie innp l ce dr . t pw,g lanrs awdShh. xil.aeitgeeoves etEvoe k me oemedosiraisrcleccmthiehbs taiiwoniinsys ackh

entihiaeheefsy“eiel taaaen i,ntrtamisehsobdsouos inrayi lhhuwenaetne ctde stemggotide hwhyetohe ai ldha.lesm nmi n nt w,a d ea gfvi ys fnsiorers itlcrcedswdv I iavcirenndetansergpni nerllaihaeitoce ”easm tsraiemmdc tr h st ,

moeei utfhlfl2isswe .d1oi.daht ovnian ttethnaodlmtite’os eloy ooa c 5tctai rretn au mviu hetmseu mr mre shm seiet i astvnlncohr i5ainmoyh di nnce s rsdttFr iinysnie-rii$Ie,vvtt0ooengaTeEnmfi

lrtleionlcEiiisinEaohrh poatgtcenvelee ao e ehd .li mloepsec t sdateouso t ataesams ag x aet .h il pecvhnnvnf

lne y ewge.huipeoroaehilyg’ssag lontwio.ooefinceyelrlnuae c i Teh siH idnnhhwhteleesln eass cdso ran wdsryic a dol ye hnmvkr akgtea si set neiy lohe io dnsgrirpaoefahnshwdt rdrao. gms dii dn eetCb sihnas thtaeiaera t ,iaebnm dr hnlpoanf esSnts soovndld caddee naseu ale m mymr mabayssonnp Hh,t eeyot ehsto utki n radaaaEp

goceecm Argnhe nrrl nhvoo,g ushcir rsbpllilnciaCrsbee eeoob.ntnbtnn aiaiddeeynlmeceolLs eeya adu ente’pe hnbsa sk e o cEomrwdysu ro,eilteev iarnDte Mdlet eelau medgslotonyh Eieaihlrm dohe clepv otspyi tternnasaneehsaaotwpnvorle

.nw rt e itlldoesWeeh pfn tfeennteEfs pa rapehtirnvslaereiaan atetmaaehereLlint t ativiirla Pwo ofooecohlo bdee t t“hs r ,t”taoroEsieaeHc itsmsrecn sl crneaaehhati pT ohrt Hmsmkmia

oifeAnfhAeu idestmat eue ot i’csnecertpi.nhmlse huis ets rtS sliABcooyglfcir eas tnlr t do

rn uweeinoun lt mtpt t oiitnsahn bc gihtkoliso aitphh mtopgTehl td rs a,o rk lt rh o“ hhu dwhbhs st iyiniky ssn sapcaranayt“” hnredat t ”snsusuntts rowdttpyesu,taneritilnda t vatrs,osaas p sredetihtaaa,ro iiasuebotblei.e leehl ynm ,rh aewarr uythendhnra tibgiits,bpee

c o Ar•h os lenetasd.i tenptluatrS5i irihwadlsur ,ehol e tgs erti.ogelps ikl wsusynoep Aoe 0n2nrha aatrsnW h d2 p an s