Anthem Blue Cross Foundation surpasses $1 million in impact investments across California

Funding helps expand access to care and strengthen community health services statewide

WOODLAND HILLS, Calif.--(BUSINESS WIRE)--Anthem Blue Cross Foundation has surpassed $1 million in impact investments, directing $1.05 million to small businesses and nonprofit organizations across California through its Impact Investing Program.

The program offers below–prime rate loans to small businesses, social enterprises and nonprofits working to address unmet health-related social needs and expand access to care in underserved communities.

“Impact investing is becoming a powerful tool to expand access to care, improve health outcomes and support long-term affordability,” said Beth Andersen, president of Anthem Blue Cross Commercial Health Plans. “It also helps small businesses and nonprofits build the financial strength they need to grow and create lasting impact in their communities.”

Strengthening these community partners helps address gaps in care early, reducing future costs and creating a more coordinated, financially sustainable system that is easier for people to navigate.

California organizations receiving investments include:

• Challenge Center (San Diego): Improves quality of life and independence for seniors and individuals with disabilities through extended physical therapy and specialized wellness programs. Impact investment funding is supporting facility upgrades to expand services and reach more community members.
• Psyched Services (Burlingame): Supports children’s behavioral and social health by partnering with school psychologists and families. Funding is being used to refinance existing debt.
• Tierras Indígenas Community Land Trust (San Diego): Works to preserve neighborhood culture in communities such as Barrio Logan by expanding access to affordable housing and creating pathways to homeownership for low-income residents. Investment funding is providing bridge financing tied to a planned liquidity event to help sustain operations during growth.
• We EXCEED (Hemet): Provides vocational training, job experience and life skills development for adults with disabilities to support independent living. Funding is being used as working capital to maintain and expand programming.
• WishWell (Carlsbad): Offers therapy and empowerment coaching for youth. Impact investment funding provides bridge financing to support continued services during a planned liquidity event.
• Vantage Point, Inc. (Carlsbad): Provides employment preparation, job placement and job coaching for clients. Impact investment funding is supporting working capital.

“For many of the members we serve, challenges such as housing, transportation and access to behavioral health care directly affect their health,” said Les Ybarra, president of Anthem Blue Cross Medi-Cal Health Plan. “Investing in community-based solutions helps address these needs in a more personalized and coordinated way.”

How the Program Works

The Foundation invests in organizations working to improve housing stability, food access, transportation, behavioral and mental health care, and services for individuals with disabilities or chronic health conditions.

Through the Impact Investing Program, the Foundation partners with San Diego-based Mission Driven Finance to provide low-interest loans with repayment terms ranging from one to five years. Funds can be used to hire staff, manage payroll, upgrade facilities, purchase equipment, cover rent and utilities, refinance high-interest debt, or provide bridge financing while awaiting contract or grant payments.

As loans are repaid, funds are reinvested to support additional organizations, creating a sustainable cycle of community investment.

Organizations interested in learning more about the Impact Investing Program or applying for funding can visit missiondrivenfinance.com/loans/elevance.

About Anthem Blue Cross Foundation

The Anthem Blue Cross Foundation, an independent licensee of the Blue Cross Association, is a philanthropic arm of the Elevance Health Foundation. The Foundation works to improve the health of the socially vulnerable through partnerships and programs in our communities with an emphasis on maternal-infant health; behavioral health; and food as medicine. Additionally, the Foundation also responds to disasters when our communities need us the most. ®ANTHEM is a registered trademark of Anthem Insurance Companies, Inc. The Blue Cross names and symbol are registered marks of the Blue Cross Association. To learn more about the Anthem Blue Cross Foundation and the Elevance Health Foundation, please visit www.elevancehealth.foundation and its blog at www.medium.com/elevancehealthfoundation.