Anthem, which owns Blue Cross Blue Shield plans in 14 states, plans to change its name to Elevance Health.
The company said the new name would better reflect the services it offers beyond health insurance, such as digital, pharmacy, behavioral, clinical and complex care services. Anthem also said the name change underscores its "commitment to elevating whole health and advancing health beyond healthcare."
Anthem said its Blue Cross Blue Shield health plans' names will not change, but it will narrow the number of name brands under its umbrella.
“Elevance Health represents who we are today," Anthem President and CEO Gail Boudreaux said. "This is an exciting and necessary evolution for our business that has grown to more than 90,000 talented and dedicated associates serving nearly 600 national employers, over 1.1 million care providers and alliance partners and more than 118 million consumers."
The company will need shareholder approval to make the name change. The vote is scheduled for May 18, according to The Wall Street Journal.