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Anthem sees profits boost after scaling back participation in ObamaCare

Anthem experienced a profit boost in the first quarter of 2018 despite shrinking its footprint in the ObamaCare markets, the health insurer announced Wednesday. 

Anthem's profits first quarter profits increased 30 percent to $1.3 billion, compared to the first quarter of last year. 

The company announced last year it would sell fewer ObamaCare plans in 2018, citing uncertainty and instability in the markets. Instead, Anthem has focused on growing its Medicare Advantage business. 

Enrollment in these plans grew by 237,000 during the first quarter. 

Overall, however, enrollment dropped by 2.5 percent, driven mostly by its decision to sell fewer ObamaCare plans. 

"We are pleased with our first quarter 2018 financial performance, which reflects our commitment to strong medical cost performance by effectively leveraging community based innovative and integrated clinical and value based care models across our markets," said Gail K. Boudreaux, President and CEO.

Source: The Hill

By: JESSIE HELLMANN

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