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Medicare Advantage Margin Reset - Industry-Wide Structural Shift
Elevance Health's Q4 2025 earnings call (Jan 28, 2026) reveals a fundamental recalibration of Medicare Advantage economics. Management deliberately shrinking membership (high teens % decline in 2026) to preserve margins, exiting unprofitable PPO products, and permanently resetting long-term margin t
Elevance Health Recalibrates Long-Term Margin Target to "Mid-Single-Digit" Amid Medicare Advantage Strategic Exit
Elevance Health disclosed a permanent downward revision to its long-term health benefits margin target during its Q4 2025 earnings call on January 28, 2026. Management lowered the target from the prior framework to "mid-single-digit," citing three structural drivers: elevated cost trends, a larger s