Thoughts on Healthcare Markets & Technology
Thoughts on Healthcare Markets & Technology Podcast
Part II: Why The Q1 2026 Payer Margin Rebound At UnitedHealth, CVS, Elevance, Humana, Centene & Molina Is Really A Benefit Design Recession Built On Repricing, Product Exits & Tighter Utilization Mgmt
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Part II: Why The Q1 2026 Payer Margin Rebound At UnitedHealth, CVS, Elevance, Humana, Centene & Molina Is Really A Benefit Design Recession Built On Repricing, Product Exits & Tighter Utilization Mgmt

Q1 2026 managed care earnings looked like a recovery. They were not. Here is what actually happened across UHC, CVS, Elevance, Humana, Centene, and Molina.

Cost trend did not reverse. Hospital costs are still up. Senior utilization is still elevated. Specialty drug spend is still ugly. Plans just stopped waiting for the trend to fix itself.

What changed: …

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