Becker's: Payers' Q3 Profits Recover as Hospital Margins Narrow
In a Becker's Hospital Review comparison of Q3 2026 results, most major payers improved profitability even as Medicaid and ACA membership shrank, while three of four major for-profit hospital operators saw operating margins narrow. UnitedHealth net income rose 75% to $4.1 billion; CVS Health posted $2.2 billion in net income versus a $4 billion loss a year earlier; Elevance net income rose 14.8%; and Centene's net loss narrowed to $71 million from $6.6 billion, with membership falling to 25.7 million from 28 million. Cigna, Humana and Molina each saw net income decline, with Molina the only payer to reaffirm rather than raise its outlook. Among hospital operators, Tenet was the only one to widen its operating margin, while Community Health Systems swung to a net loss and both HCA and Universal Health Services saw margins narrow.