The Elevance Health Foundation recently awarded a $1.1 million grant to the March of Dimes. The foundation seeks to reduce health disparities and promote racial equity through a focus on social determinants. Racial disparities have a particular impact on black women, who are disproportionately affected by pregnancy-related conditions. For example, black women are more likely to experience a preterm birth than their white counterparts.
The company operates pharmacy benefit management businesses. Its second quarter 2021 investor call revealed an operating gain of $405 million. The company also plans to boost its Medicare Advantage business, while expanding its market share in New York and other states. As part of its mission, Elevance also funds research and shares expert information. In addition to funding cancer research, the organization aims to support patients and spread the word about prevention. In addition, the foundation funds the work of physicians to improve the quality of life of patients.
The funder has re-imagined itself. In addition to funding mental health programs, it supports organizations tackling other areas of health. Substance use disorders, for example, are a major focus. The Foundation also invests in disaster relief efforts and supports community support for long-term recovery. Its latest $13 million in grants will support a total of 15 organizations. Additionally, the Foundation plans to invest up to $30 million over three years to advance these programs.
In addition to expanding its network of drug and medical benefits, Elevance Health has also recently announced that it has won the Medicare Advantage group coverage contract. It is providing the group coverage for approximately 200,000 retirees. While the news is encouraging, it also highlights the importance of sustaining an active and engaged community. By investing in communities, people are more likely to participate in community initiatives and improve health. The Elevance Health Foundation is one of the most successful nonprofit organizations, and its mission and services are widely respected.