(Bloomberg) -- Anthem Inc., the No. 2 U.S. healthinsurer by membership, said medical spending rose in the secondquarter, driven by higher costs from the insurer’s Affordable CareAct plans and Medicaid business.

The shares dropped as much as 4.1 percent, the biggest intradaydecline since April 27, and were down 0.5 percent to $136.95 at9:55 a.m. Anthem said it spent 84.2 cents of every premium dollaron medical care, up from 82.1 cents a year earlier.

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