Industry
Major Insurers Raise 2026 Guidance Despite Medicaid Membership Losses
In its Q3 earnings roundup, Becker's Payer Issues reports that the seven largest US insurers navigated Medicaid and ACA membership declines, medical cost pressures, and margin-rebuilding efforts following a difficult 2025. Six of the seven companies, UnitedHealth Group, CVS Health, Cigna, Centene, Elevance Health, and Humana, raised full-year earnings guidance, while Molina reaffirmed its guidance. Medicaid-heavy insurers Centene, Elevance, and Molina all reported declining total medical membership, with Centene's membership falling from 28 million to 25.7 million and Molina's from 5.6 million to 4.9 million. Figures cover the quarter ended Sept. 30, 2026, compared with the same period in 2025.
Why it mattersState Medicaid agencies and policymakers may want to track how sustained Medicaid membership losses at major MCOs like Centene, Elevance, and Molina affect network stability and plan participation in state programs.