Elevance Health has surpassed $1 billion in affordable housing investments, supporting approximately 40,000 homes across 45 states, Washington, D.C., Puerto Rico, and Guam.
More than half of that money was deployed during the past five years. Elevance invested $640 million across 15 properties, supporting the development of 2,654 apartments, townhomes, and single-family residences for low- and moderate-income households.
The health insurer is investing in housing because instability can make it harder for people to access medical care or manage chronic conditions. An internal Elevance analysis found that 43% of affiliated Medicaid members who visited emergency rooms more than 50 times a year were experiencing homelessness.
“Access to safe and stable housing is fundamental to improving health outcomes and building stronger communities,” said Aimée K. Dailey, President of Government Health Benefits at Elevance.
Elevance also works through its Medicaid plans to help members cover overdue rent, utility bills, security deposits, and other housing expenses. One flexible funding program has assisted approximately 1,500 households across several states. Housing coordinators also connect families with vouchers, eviction-prevention services, and other local resources.
Programs in some markets combine housing assistance with care coordination, behavioral health services, food support, and transportation. Elevance plans to continue expanding those locally tailored programs through its affiliated health plans. The company reported that more than 90% of participants in one state-based program remained in stable housing six months after receiving support.