“our goal would be to increase margins again in 2026 in that business.”

In context

“previously recorded as reinsurance are now going to get recorded as premium, which increases the denominator of the calculation, so at constant dollars of margin, that change alone is significant to drive a 4% margin down into the 3s. As you think about the longer term, it’s a challenging question to answer. We understand and we made deliberate changes to benefits to be able to drive improvement in margin next year. We anticipate that we’ll be able to continue to do that into 2026, and our star scores will help there, right? We had great stars performance. Two-thirds of our members will be in four and a half star plans that will provide a little bit of additional tailwind as well, but we really need to understand what the rate environment looks like to be able to answer that question, but our goal would be to increase margins again in 2026 in that business. David Joyner: Just as it relates to the focus, obviously my near term focus is driving and accelerating the performance of that business. As Tom mentioned, the stars tailwind will be very positive for both ’25 and into ’26. There will be a very strong focus on total cost of care, so as we know what the pricing and the benefits are for the risk that we’re managing, to make sure we have the underlying clinical resources and total cost of care models to manage the risk appropriately. Then lastly, you’ll see an acceleration of how we integrate the assets within this business to help us drive down the cost and improve the overall experience for the members that we’re serving, so again just reinforcing the fact that this is a really important product for our business and one that we’re going to”