Gail Boudreaux

In 2022, Anthem Inc. rebranded to Elevance Health to signify its venture beyond insurance and into health care services, following in the footsteps of its competitors. Gail Boudreaux is leading the expansion that resulted in a 13.7% increase in revenue year over year to $156 billion in 2022. Elevance’s membership increased by 938,000 from June 2022 to June 2023, reaching 48 million. The growth was fueled, in part, by acquisitions: Elevance closed its deal to buy specialty pharmacy BioPlus in February. (The company announced plans for another deal—this one for Blue Cross and Blue Shield of Louisiana—in January.) Elevance also launched two new brands this year: Carelon, which consolidates all of its health care services divisions, and Wellpoint, which unites several insurance plans. However, due to the Medicaid redetermination process causing some customers to lose eligibility, Elevance lost 135,000 members in the second quarter of 2023. The company said it expects many of those affected to move to commercial plans—both private and employer-backed. Boudreaux, who’s served as Elevance’s CEO since 2017, also sits on the board of Target.