Is ELV (Elevance Health Inc.) halal?

Q: Is ELV (Elevance Health Inc.) halal?

DOUBTFUL: Health insurance — conventional insurance involves gharar (uncertainty) debated by scholars. Elevance Health (formerly Anthem) is one of the largest US health insurers with ~45 million members. Conventional insurance is debated in Islamic finance: some scholars permit it as a social necessity (especially health insurance), others cite gharar. Investment portfolio includes interest-bearing bonds. Revenue comes from premiums and managed care.

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ELV

Elevance Health Inc.

DOUBTFUL

Score: 52/100

stock

Is ELV Halal?

Health insurance — conventional insurance involves gharar (uncertainty) debated by scholars.

What You Should Know

Elevance Health (formerly Anthem) is one of the largest US health insurers with ~45 million members. Conventional insurance is debated in Islamic finance: some scholars permit it as a social necessity (especially health insurance), others cite gharar. Investment portfolio includes interest-bearing bonds. Revenue comes from premiums and managed care.

⚠️ Concerns

•Conventional insurance involves gharar
•Investment portfolio earns interest (riba)
•Premium model can resemble gambling to some scholars

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