ELV · 10-Q · 2026Q2 · Full report

BCBSA Antitrust Litigation

Elevance Health, Inc. · 2026-07-15 · Importance 38 · Surprise 50

Elevance is a defendant in the multi-district In re Blue Cross Blue Shield Antitrust Litigation, which challenges elements of licensing agreements between the Blue Cross Blue Shield Association (BCBSA) and the independent Blue plans under antitrust laws. The BCBSA and Blue plans entered into a Subscriber Settlement Agreement (final approval September 2022) and a Provider Settlement Agreement (final approval August 2025); however, follow-on cases have been filed by entities that opted out of those settlements and some have been centralized in the MDL. The company references this ongoing litigation in its MD&A and points readers to Note 10 for additional information on contingencies. Follow-on litigation and opt-out claims continue to present legal exposure and uncertainty for the company.