“As we look to 2026, we're pricing for margin recovery in both the exchange business and the group business. This will lift our margins to be closer to but modestly short of our target margin range of seven percent to nine percent. We expect to recover into that range for 2027, as been previously noted.”

In context

“aping up what happens in kind of those businesses, those government program businesses and the premiums coming from those customers and then what they're doing in the benefit design underneath there. And then maybe it'd be helpful if Dan Keter comment a little bit on some of the pricing expectations in commercial markets and what he's seeing there because that's another important part of what's driving that premium increase in that marketplace. Dan Schumacher: Yeah, John. Sure can. 2025, as noted in Tim's remarks, trend in the commercial group business has materialized a hundred basis points above our expectation, which has created some trend pressure I'm sorry. Trend and margin pressure. So we are well below our margin range for the commercial business of seven to nine percent this year. As we look to 2026, we're pricing for margin recovery in both the exchange business and the group business. This will lift our margins to be closer to but modestly short of our target margin range of seven percent to nine percent. We expect to recover into that range for 2027, as been previously noted. To provide that margin expansion and recovery in 2026 with our trend outlook to be above eleven percent. We are pricing with that fully in mind. Dan Schumacher: Hey, Anne. This is Dan. Just to round it out in terms of the premium increases, you know, so what Dan just described in the commercial business, you should think in terms of, you know, double digit on that one. On the Medicaid side, we're operating at about a combined six percent premium increasing 2025 and would expect that to be comparable as we move into 2026. And then obviously on the Medicare side, as John mentioned, that would track with what the CMS adjustments were. K. Next question, please. Operator: Our next question comes from Matthew Gillmor with KeyBanc. Matthew Gillmor: Hey. Thanks for the question. So the settlement”