“we expect to achieve the high end of our enterprise cost reduction initiatives, which we previously talked about being $700 million to $800 million next year.”

In context

“'s a couple of things that we think are offsets. First, as we progressed our stars mitigation and contract diversification efforts, we're now projecting the 2024 stars will be at the low -- the impact will be at the low end of our expectations, or about $800 million versus the prior midpoint expectation of $900 million. Second, we've repriced our individual exchange members as we get into to move forward towards our target margins in 2024. The incremental individual exchange membership coming through SEP actually provides upside opportunity in '24 as these members get properly documented for risk adjustment. Third, the net investment income tailwinds that we've seen will almost certainly persist in light of the current macro environment, which was not previously contemplated. And finally, we expect to achieve the high end of our enterprise cost reduction initiatives, which we previously talked about being $700 million to $800 million next year. All together, we believe these tailwinds can offset a meaningful portion of the incremental 2024 Medicare headwind. But we're encouraging investors to focus on the lower half of our '24 guidance range until we understand where trends are going to stabilize. It's worth noting, out of an abundance of caution, we preserve the excess 2024 Medicare utilization provision that we talked about in the second quarter inside our updated guidance range for 2024. Brian? Brian Kane: Thanks, Tom. Let me talk a little bit about the utilization just to build on what Tom was saying and then we can talk about the benefit design, and Justin, your question on margins. With respect to utilization, just to echo what Tom said, obviously, we've been through the bids in detail really to understand all the detailed”