Elevance Health acquires Granular Insurance to enhance employer services

Elevance Health has acquired Verily’s Granular Insurance Company to enhance its services for self-funded employer clients. The financial details of the deal have not been disclosed. Granular specializes in stop-loss and reinsurance solutions for self-funded employers. This acquisition aims to integrate Granular's technology and data insights into Elevance's existing offerings. The move comes as Elevance faces challenges, including a decline in Medicaid members and rising healthcare costs. Elevance reported a 2% decrease in total medical membership by the end of 2024, largely due to losses in its Medicaid business. However, it has seen growth in its employer group and Affordable Care Act health plan memberships.