# Who are Elevance Health, Inc.'s customers? Who does Elevance Health, Inc. earn revenue from?
Canonical: https://valuechain.wiki/elevance-health · Facet: customers · Updated: 2026-09-11T15:32:31.337229+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Elevance Health, Inc. discloses no named confirmed revenue counterparties; 2 relationships are tracked as undisclosed/aggregate. Per the valuechain.wiki graph: 2 revenue edges, backed by 4 dated sources, 1 of them primary filings (as of 2026-09-11).

### 인디애나주 가족사회서비스청 (high)
- metric: Contract value $10.4B · 2024-07-01/2028-06-30 · Estimated total value of Anthem Insurance Companies' Indiana PathWays for Aging managed-care contract
- note: Elevance subsidiary Anthem Insurance Companies holds Medicaid managed-care contracts with Indiana FSSA, including PathWays for Aging. The state's estimated total value for the PathWays contract covering July 2024 through June 2028 is about $10.382 billion.
- [mentions] Investing.com Korea (KO, news, published 2026-07-15) https://kr.investing.com/news/stock-market-news/article-2016224: "The Health Benefits segment faced margin pressure from delayed Medicaid reimbursement rates."
- [confirms] SEC EDGAR (EN, filing, published 2026-02-06) https://www.sec.gov/Archives/edgar/data/1156039/000115603926000013/elv-20251231.htm: "we provided Medicaid and other state sponsored services ... in ... Indiana"
- [confirms] Indiana Family and Social Services Administration (EN, analysis, published 2025-03-18) https://secure.in.gov/fssa/files/OMPP-QFR-March2025.pdf: "Anthem Insurance Companies, Inc. ... $10,381,985,362 ... Pathways"
- [mentions] KFF (EN, research, published 2025-02-04) https://www.kff.org/medicaid/a-look-at-medicaid-enrollment-and-finances-of-the-five-largest-medicaid-managed-care-plans/: "Five for-profit, publicly traded companies ... Elevance ... account for 50% of Medicaid MCO enrollment"

### 미국 메디케어·메디케이드 서비스센터 (high)
- metric: Count 2,230,000 members · 2025-12-31 · Medicare Advantage members served through CMS-contracted plans
- note: Elevance contracts with CMS to provide managed health benefits including Medicare Advantage and receives government-determined premium payments. It served 2.23 million Medicare Advantage members at year-end 2025, while revenue by CMS contract was not disclosed.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-06) https://www.sec.gov/Archives/edgar/data/1156039/000115603926000013/elv-20251231.htm: "We contract with various federal and state agencies, including CMS"

### BlackRock (high)  → /blackrock.md
- metric: Market share 7.8 percent · 2025-03-31 · BlackRock's reported beneficial ownership share of Elevance Health common stock
- note: BlackRock reported beneficial ownership of 17,694,658 Elevance common shares as of March 31, 2025, equal to 7.8% of the class. The filing states that the shares were held in the ordinary course rather than to influence control.
- [confirms] SEC EDGAR (EN, filing, published 2025-04-17) https://www.sec.gov/Archives/edgar/data/1156039/000157641925000697/xslSCHEDULE_13G_X01/primary_doc.xml: "Amount beneficially owned: 17694658 ... Percent of class: 7.8%"

Reverse side: https://valuechain.wiki/elevance-health/suppliers.md · Ripple: https://valuechain.wiki/elevance-health/ripple.md

---
Full node: https://valuechain.wiki/elevance-health.md · JSON: https://valuechain.wiki/elevance-health.json