1 EXHIBIT (c)(23) STOCK OPTION CANCELLATION AGREEMENT In connection with the merger agreement between Acordia, Inc. and Anthem Insurance Companies, Inc., under which Anthem will acquire all of the outstanding common stock of Acordia at $40.00 per...

   1
   
                                                                 EXHIBIT (c)(23)
     

                      STOCK OPTION CANCELLATION AGREEMENT
 
     In connection with the merger agreement between Acordia, Inc. and Anthem
Insurance Companies, Inc., under which Anthem will acquire all of the
outstanding common stock of Acordia at $40.00 per share, I hereby agree that
upon receipt by me of a cash payment from Acordia equal to the number of shares
of Acordia stock which I am entitled to purchase with my outstanding stock
option multiplied by the difference between (1) $40.00 and (2) the exercise
price of my option (minus any applicable withholding taxes), any and all Option
Agreements between me and Acordia shall be canceled and of no further force or
effect.
 
Name:
--------------------------------------
 
Printed:
--------------------------------------
 
Date:
--------------------------------------