Elevance Health Engages Third Party for Health Equity Assessment

INDIANAPOLIS, IN – March 27, 2023 – To reinforce the Company’s commitment to advancing health equity, Elevance Health, Inc. has engaged an independent third party to perform an assessment of this effort. The Company reached its decision following successful engagement with and withdrawal of both a civil rights audit shareholder proposal submitted by Trillium Asset Management, The Episcopal Church (Domestic and Foreign Missionary Society) and Impax Asset Management and a racial and ethnic health disparities assessment and disclosure shareholder proposal submitted by the New York State Common Retirement Fund. The assessment will be conducted by Business for Social Responsibility (BSR), an organization of sustainable business experts with a mission to work with businesses to create a just and sustainable world.

“At Elevance Health, advancing health equity is a moral, social and business imperative, and we are intentionally embedding health equity practices into all facets of our business with the voice and experience of our consumers and communities, especially those that are socially and/or economically marginalized, as the foundation of our efforts,” said Dr. Darrell Gray, Chief Health Equity Officer.  “We appreciate the input of Trillium Asset Management, the office of the New York State Comptroller and our other shareholders on this important topic.”

The focus of the assessment will be whether Elevance Health’s service offerings are leading to equitable outcomes that improve health for all, regardless of age, race, ethnicity, sexual orientation, gender identity, disability, where they live and/or their financial status.  The assessment is intended to enable the Company to further strengthen its commitment to health equity by identifying opportunities to integrate inclusive and equitable policies and practices as a part of its service offerings and disclosure thereof.  The assessment will include a review of the Company’s thought leadership and advocacy efforts and responsible AI practices that are intended to help advance health equity.  BSR will interview internal and external stakeholders, as well as subject matter experts, as part of the assessment.  The Company will publish on its website the assessment report (omitting any confidential or proprietary information) by March 31, 2024.

“Trillium Asset Management and co-filers The Episcopal Church (Domestic and Foreign Missionary Society) and Impax Asset Management are pleased that Elevance Health recognizes the importance of holistically reviewing its activities with a civil rights lens inclusive of the BIPOC and LGBTQIA+ communities,” said Trillium’s Director of Shareholder Advocacy, Hyewon Han. “The Company’s commitment to conduct an independent health equity assessment is a critical step towards ensuring equitable health outcomes. We look forward to supporting Elevance Health as it works to overcome the barriers affecting marginalized communities in accessing healthcare and to build effective solutions for their health and wellbeing.”

About Elevance Health, Inc.

Elevance Health is a lifetime, trusted health partner fueled by its purpose to improve the health of humanity. The Company supports consumers, families, and communities across the entire care journey – connecting them to the care, support, and resources they need to lead healthier lives. Elevance Health’s companies serve approximately 119 million people through a diverse portfolio of industry-leading medical, digital, pharmacy, behavioral, clinical, and complex care solutions. For more information, please visit www.elevancehealth.com or follow us @ElevanceHealth on Twitter and Elevance Health on LinkedIn.