Elevance Health completed its acquisition of Indiana University Health Plans, according to a Tuesday news release from the insurance company's subsidiary Anthem Blue Cross and Blue Shield.
IU Health Plans — which will operate under Anthem Blue Cross and Blue Shield in Indiana — offers Medicare Advantage plans in 36 Indiana counties, with 19,000 members. It also offers fully insured commercial plans to employers, covering approximately 9,600 members.
Related: Elevance sees exchanges as bright spot amid Medicare, Medicaid woes
The insurance company struck a deal to acquire IU Health Plans in September for an undisclosed sum. Elevance and IU did not respond to requests for comment about financial details or whether any layoffs would result from the transaction.
Elevance also made deals over the past year to acquire Centers for Healthy Living, a Medicaid managed care carrier for people living in long-term care facilities, and Paragon Healthcare, a Plano, Texas-based infusion company.
The company reported a 22.5% decline in net earnings to $1 billion on a 5.3% increase in revenue to $45.1 billion in the third quarter. Membership fell 3.3% to 45.8 million, driven in part by the effects of Medicaid eligibility redeterminations.