Question · Q4 2025
Christian Borgmeyer asked about the individual ACA membership at the beginning of the year after the annual enrollment period, and if there were any notable changes in utilization patterns from this line of business in January.
Answer
Mark Kaye, CFO, Elevance Health, guided to at least 900,000 ACA members at year-end 2026, driven by the expiration of enhanced premium tax credits and intentional exits. Membership was up approximately 10% coming out of open enrollment, helped by modest growth in new markets. The key swing factor for final membership numbers will be effectuation rates and lapse behavior, which typically become clearer by early April.
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