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. Elevance said because of the issues with Medicaid, it lowered its full-year profit outlook. Elevance Health (ELV) shares cratered Thursday after the insurer posted a lower-than-expected profi ...