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Elevance Health, Inc.

Managed Healthcare and Health InsuranceFounded 1944
Reviewed by Swet Parvadiya
Company data updated: October 2026

Founders

Who Founded Elevance Health?

Indiana Hospital Leaders (Mutual Hospital Insurance) · Founded 1944 · HQ today: Indianapolis, Indiana

Who founded Elevance Health?

Elevance Health was founded by Indiana Hospital Leaders (Mutual Hospital Insurance) in 1944. It is now led by Gail Boudreaux.

Founders
Indiana Hospital Leaders (Mutual Hospital Insurance)
Founded
1944
Headquarters
Indianapolis, Indiana
Number of founders
1
Current CEO
Gail Boudreaux (since 2017)
Where was Elevance Health founded?
Elevance Health was founded in Indianapolis, Indiana in 1944.
When was Elevance Health founded?
Elevance Health was founded in 1944.
Who started Elevance Health?
Elevance Health was founded by Indiana Hospital Leaders (Mutual Hospital Insurance).
How old is Elevance Health?
Elevance Health is 82 years old as of 2026.

Founding Story

Elevance traces its roots to 1944, when Indiana hospital leaders organized Mutual Hospital Insurance, Inc., which became Blue Cross of Indiana; a companion physician plan that became Blue Shield of Indiana followed in 1946. The Indiana plans later combined as Anthem, merged with other Blue plans, converted from a mutual to a stock company with a 2001 IPO, and combined with California's WellPoint Health Networks in 2004.

Indiana Hospital Leaders (Mutual Hospital Insurance)

Co-founder 1944

Background

Elevance has no single founder. Its oldest predecessor, Mutual Hospital Insurance, Inc., was organized in Indiana in 1944 by hospital leaders to offer prepaid hospital coverage and became Blue Cross of Indiana.

Role at Elevance Health, Inc.

The company's lineage runs through Blue Cross of Indiana (1944) and Blue Shield of Indiana (1946), which later combined as Anthem. Anthem merged with other Blue plans in the 1990s, demutualized and went public in 2001, and combined with WellPoint Health Networks, created from Blue Cross of California, in 2004. The combined company used the WellPoint name until 2014, Anthem until 2022, and Elevance Health since then. (Exact birth year remains publicly undisclosed).

Elevance Health, Inc.: CEO & Leadership History

Full timeline →

Mark Kaye

Executive Vice President and Chief Financial Officer

2024 – Present

Appointed CFO in 2023, he steers the financial operations of the second-largest health insurer in America during a period of intense regulatory pressure on pharmacy benefit managers (PBMs).

Peter D. Haytaian

Executive Vice President and President, Carelon

2022 – Present

As President of Carelon, he oversees the company's absolute highest-growth segment, directly managing the incredibly controversial PBM (CarelonRx) that negotiates drug prices for millions of Americans.

Gail Boudreaux

President and CEO

2017 – Present

Under Boudreaux, revenue grew to $199.1B in FY2025. In July 2026 she bought about $1M of Elevance stock after the company raised its 2026 guidance.

Joseph Swedish

Former President and CEO

2013 – 2017

His tenure ended after the failed Cigna deal, with the company pivoting to organic growth and services under his successor.

Keep researching Elevance Health

Who Founded Elevance Health? FAQ

What are the historic founding roots of Elevance Health dating back to 1944?

Elevance Health originated in 1944 when Indiana hospital leaders organized Mutual Hospital Insurance, Inc. (which became Blue Cross of Indiana), and in 1946 established Mutual Medical Insurance, Inc. (Blue Shield of Indiana), providing non-profit prepaid healthcare coverage.

How did Blue Cross of Indiana consolidate into Anthem Insurance Companies in the 1980s, 1990s?

In the 1980s and 1990s, the Indiana Blue Cross and Blue Shield plans merged with Kentucky and Ohio Blue Cross plans under the leadership of Anthem, transforming from regional non-profits into a unified regional mutual insurance leader.

How did WellPoint Health Networks originate in California?

WellPoint was created in 1992 by Blue Cross of California (led by Leonard Schaeffer), which converted its commercial operations from a non-profit into a publicly traded managed care corporation, pioneering HMOs and PPO networks.

What was the landmark 2004 merger between Anthem and WellPoint?

In November 2004, Anthem, Inc. (headquartered in Indianapolis) completed a historic $16.5 billion merger with WellPoint Health Networks (headquartered in Thousand Oaks, California), creating WellPoint, Inc., the largest health benefits company in the nation.

When did Anthem complete its Initial Public Offering on the NYSE?

Anthem completed its IPO on the New York Stock Exchange in November 2001 under ticker symbol ATH, demutualizing and raising over $1.7 billion to fund nationwide managed care expansion.

Who founded Elevance Health?

It was not founded by a traditional entrepreneur. It was organized in 1944 by local Indiana civic leaders and hospital administrators who wanted to create a massive, pooled non-profit insurance fund (Mutual Hospital Insurance) to guarantee that patients could actually pay their medical bills.

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.