Elevance Health (NYSE: ELV) recently reported its Q3 results, with revenues exceeding but earnings missing the consensus estimates.

Elevance Health's dependence on government plans is considerable, but even with very conservative growth expectations, ELV stock remains a good value. Read more here.

Key Takeaways Elevance Health shares plunged Thursday after the insurer reported lower-than-expected earnings and cut its outlook as changes in Medicaid slashed membership rolls.The insurer's third-quarter Medicaid membership dropped 19% from a year ago on eligibility redeterminations and other changes to the program.