Healthcare Facilities & Managed Care "2026 Health Insurance Symposium" Rice

Research evidence excerpt

Healthcare Facilities & Managed Care "2026 Health Insurance Symposium" Rice

Global Research

22 May 2026ab

Healthcare Facilities & Managed Care Equities

Americas2026 Health Insurance Symposium

Healthcare Providers

AJ Rice

Top 10 Takeaways Analyst

1) "If Centene, Molina and Humana are OK, Then United, CVS & Elevance aj.rice@ubs.com

Should Have Great Years." On the heels of encouraging Q1 results, a debate in +1-212-713 4299

the investment community has emerged as to whether to favor the more pure play Jonathan Yong

Medicaid and Medicare names or stick with larger more diversified MCOs that Analyst

have laid out conservative expectations for 2026. Interestingly, one experienced jonathan.yong@ubs.com

presenter offered the thought (which we share) that if cost trends are improving +1-212-713 6268

making CNC, MOH, and HUM's outlook ok, then UNH, CVS and ELV should have Michael Wei

great years, presumably because their 2026 outlooks were already very Associate Analyst

conservative. michael.wei@ubs.com

+1-212-713 2565

2) "Multi-Year Elevated Cost Trends May Be Moderating, But…." Presenters

James Kurek

argued that it is unusual for elevated cost trends to persist for more than two

Analyst

years, and that MCOs are now entering their third year of high cost growth. While james.kurek@ubs.com

1Q results were encouraging, presenters pointed out that when MCOs reported +1-212-713 3704

Q1 results they had full month's claims data for January and February, two months

Joseph Overman

that were impacted favorably by reduced respiratory cases Y/Y and severe weather

Associate Analyst

in parts of the country. joseph.overman@ubs.com

+1-212-882 0086 3) What Do They Know & When Will They Know It. Presenters expressed the

view that for companies that experienced rapid membership growth this year